New Oriental Education & Technology Group, Inc. (NYSE:EDU) Shares Bought by Pictet Asset Management Ltd.

Pictet Asset Management Ltd. grew its stake in shares of New Oriental Education & Technology Group, Inc. (NYSE:EDU) by 97.6% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 416,883 shares of the company’s stock after purchasing an additional 205,896 shares during the quarter. Pictet Asset Management Ltd. owned approximately 0.26% of New Oriental Education & Technology Group worth $36,794,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. boosted its stake in shares of New Oriental Education & Technology Group by 2.4% during the second quarter. PNC Financial Services Group Inc. now owns 1,513 shares of the company’s stock valued at $107,000 after purchasing an additional 35 shares during the period. Nippon Life Insurance Co. purchased a new stake in New Oriental Education & Technology Group in the second quarter worth $111,000. Advisor Group Inc. lifted its stake in New Oriental Education & Technology Group by 182.5% in the second quarter. Advisor Group Inc. now owns 1,743 shares of the company’s stock worth $123,000 after acquiring an additional 1,126 shares during the period. Stevens Capital Management LP purchased a new stake in New Oriental Education & Technology Group in the second quarter worth $207,000. Finally, Wetherby Asset Management Inc. purchased a new stake in New Oriental Education & Technology Group in the second quarter worth $227,000. 75.75% of the stock is owned by hedge funds and other institutional investors.

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A number of analysts recently commented on EDU shares. Jefferies Group LLC reaffirmed a “buy” rating and issued a $109.00 price target on shares of New Oriental Education & Technology Group in a research note on Thursday, October 26th. Vetr lowered New Oriental Education & Technology Group from a “buy” rating to a “hold” rating and set a $94.84 price target for the company. in a research note on Tuesday, October 10th. Bank of America Corporation raised New Oriental Education & Technology Group from a “neutral” rating to a “buy” rating and set a $105.00 price objective for the company in a research report on Monday, September 25th. Zacks Investment Research raised New Oriental Education & Technology Group from a “hold” rating to a “buy” rating and set a $89.00 price objective for the company in a research report on Tuesday, July 18th. Finally, CLSA lowered New Oriental Education & Technology Group from an “outperform” rating to an “underperform” rating in a research report on Tuesday, October 24th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and nine have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $89.76.

New Oriental Education & Technology Group, Inc. (NYSE:EDU) traded up $0.11 during mid-day trading on Friday, hitting $85.53. The stock had a trading volume of 747,400 shares, compared to its average volume of 2,194,007. New Oriental Education & Technology Group, Inc. has a 12-month low of $37.16 and a 12-month high of $94.63. The stock has a market cap of $13,486.97, a PE ratio of 46.23, a P/E/G ratio of 1.33 and a beta of 1.31.

New Oriental Education & Technology Group (NYSE:EDU) last posted its quarterly earnings results on Tuesday, October 24th. The company reported $1.00 EPS for the quarter, missing the Zacks’ consensus estimate of $1.04 by ($0.04). New Oriental Education & Technology Group had a return on equity of 17.32% and a net margin of 15.15%. The business had revenue of $661.20 million during the quarter, compared to analysts’ expectations of $643.90 million. During the same period in the prior year, the firm posted $0.90 earnings per share. The firm’s revenue for the quarter was up 23.8% on a year-over-year basis. equities analysts predict that New Oriental Education & Technology Group, Inc. will post 2.03 earnings per share for the current year.

New Oriental Education & Technology Group Profile

New Oriental Education & Technology Group Inc is a provider of private educational services in the People’s Republic of China (the PRC). The Company provides educational services under its New Oriental brand. The Company operates through seven segments, which include language training and test preparation, primary and secondary school education, online education, content development and distribution, pre-school education, overseas study consulting services and study tour.

Institutional Ownership by Quarter for New Oriental Education & Technology Group (NYSE:EDU)

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