HUTCHISON CHINA/S (NASDAQ:HCM) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Thursday.
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. “
HCM has been the subject of a number of other research reports. BidaskClub cut HUTCHISON CHINA/S from a “buy” rating to a “hold” rating in a report on Tuesday, October 9th. MED began coverage on HUTCHISON CHINA/S in a report on Monday, July 23rd. They issued a “positive” rating for the company.
Shares of HUTCHISON CHINA/S stock traded down $1.09 during trading on Thursday, reaching $36.60. 1,003,278 shares of the company’s stock were exchanged, compared to its average volume of 123,949. The company has a debt-to-equity ratio of 0.06, a quick ratio of 4.55 and a current ratio of 4.67. HUTCHISON CHINA/S has a 1-year low of $25.76 and a 1-year high of $42.25. The stock has a market capitalization of $4.22 billion, a P/E ratio of -166.36 and a beta of 0.01.
A number of institutional investors and hedge funds have recently modified their holdings of HCM. OppenheimerFunds Inc. increased its holdings in HUTCHISON CHINA/S by 76.5% in the 2nd quarter. OppenheimerFunds Inc. now owns 2,972,947 shares of the company’s stock worth $89,604,000 after purchasing an additional 1,288,177 shares in the last quarter. Alps Advisors Inc. acquired a new position in HUTCHISON CHINA/S in the 2nd quarter worth about $5,785,000. Allianz Asset Management GmbH increased its holdings in HUTCHISON CHINA/S by 47.3% in the 3rd quarter. Allianz Asset Management GmbH now owns 447,494 shares of the company’s stock worth $14,405,000 after purchasing an additional 143,765 shares in the last quarter. State of New Jersey Common Pension Fund D acquired a new position in HUTCHISON CHINA/S in the 2nd quarter worth about $2,651,000. Finally, Bellevue Group AG increased its holdings in HUTCHISON CHINA/S by 20.3% in the 3rd quarter. Bellevue Group AG now owns 400,029 shares of the company’s stock worth $12,877,000 after purchasing an additional 67,493 shares in the last quarter. 11.42% of the stock is owned by institutional investors and hedge funds.
HUTCHISON CHINA/S Company Profile
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.
Read More: Outstanding Shares and The Effect on Share Price
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