Hutchison China MediTech Limited (HCM) Cut to “Buy” at BidaskClub

Hutchison China MediTech Limited (NASDAQ:HCM) was downgraded by research analysts at BidaskClub from a “strong-buy” rating to a “buy” rating in a research note issued to investors on Thursday, October 19th.

Separately, Canaccord Genuity lifted their price objective on Hutchison China MediTech Limited to $38.00 and gave the stock a “buy” rating in a research report on Monday, October 16th.



Shares of Hutchison China MediTech Limited (NASDAQ:HCM) opened at 31.74 on Thursday. The company has a market cap of $3.85 billion, a price-to-earnings ratio of 299.43 and a beta of -1.89. The firm has a 50-day moving average of $27.78 and a 200 day moving average of $27.78. Hutchison China MediTech Limited has a one year low of $11.40 and a one year high of $32.03.

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Hedge funds have recently modified their holdings of the company. Renaissance Technologies LLC purchased a new position in shares of Hutchison China MediTech Limited in the 1st quarter valued at approximately $618,000. The Manufacturers Life Insurance Company lifted its stake in shares of Hutchison China MediTech Limited by 7.7% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 103,799 shares of the company’s stock valued at $2,420,000 after purchasing an additional 7,400 shares during the period. Baillie Gifford & Co. lifted its stake in shares of Hutchison China MediTech Limited by 6.1% in the 2nd quarter. Baillie Gifford & Co. now owns 167,547 shares of the company’s stock valued at $3,905,000 after purchasing an additional 9,655 shares during the period. JPMorgan Chase & Co. purchased a new position in shares of Hutchison China MediTech Limited in the 2nd quarter valued at approximately $5,102,000. Finally, Wellington Management Group LLP lifted its stake in shares of Hutchison China MediTech Limited by 7.4% in the 1st quarter. Wellington Management Group LLP now owns 510,826 shares of the company’s stock valued at $10,190,000 after purchasing an additional 35,053 shares during the period. Hedge funds and other institutional investors own 4.06% of the company’s stock.

About Hutchison China MediTech Limited

Hutchison China MediTech Limited (Chi-Med) is a China-based, globally-focused healthcare group. The Company researches, develops, manufactures and sells pharmaceuticals and health-related consumer products. Its Innovation Platform focuses on discovering and developing therapeutics in oncology and autoimmune diseases for the global market.

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