Zacks Investment Research lowered shares of Hutchison China MediTech (NASDAQ:HCM) from a hold rating to a sell rating in a research note published on Thursday, March 15th.
According to Zacks, “Hutchison China MediTech Limited researches, develops, manufactures and sells pharmaceuticals and health-related consumer products. The Company offers drugs for oncology and autoimmune diseases treatment. Hutchison China MediTech Limited is based in Hong Kong. “
Separately, BidaskClub downgraded shares of Hutchison China MediTech from a buy rating to a hold rating in a research report on Tuesday, January 30th.
Hutchison China MediTech stock traded down $0.24 during midday trading on Thursday, reaching $29.67. 36,543 shares of the company’s stock were exchanged, compared to its average volume of 74,484. Hutchison China MediTech has a 52 week low of $18.00 and a 52 week high of $42.25. The stock has a market capitalization of $3,976.59, a P/E ratio of -134.86 and a beta of 0.40.
Several institutional investors have recently modified their holdings of HCM. Castleark Management LLC bought a new stake in shares of Hutchison China MediTech in the fourth quarter worth $177,000. Comerica Bank bought a new stake in Hutchison China MediTech during the third quarter valued at $203,000. Geode Capital Management LLC bought a new stake in Hutchison China MediTech during the fourth quarter valued at $258,000. Perceptive Advisors LLC bought a new stake in Hutchison China MediTech during the third quarter valued at $273,000. Finally, Mckinley Capital Management LLC Delaware bought a new stake in Hutchison China MediTech during the fourth quarter valued at $1,237,000. 7.46% of the stock is currently owned by institutional investors.
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About Hutchison China MediTech
Hutchison China MediTech Limited, a biopharmaceutical company, engages in the research, development, manufacture, and sale of pharmaceuticals and healthcare products primarily in the People's Republic of China and Hong Kong. It operates through Innovation Platform and Commercial Platform segments.
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