Neuberger Berman Group LLC lowered its position in shares of Incyte Co. (NASDAQ:INCY) by 0.9% in the first quarter, Holdings Channel reports. The fund owned 338,218 shares of the biopharmaceutical company’s stock after selling 3,233 shares during the period. Neuberger Berman Group LLC’s holdings in Incyte were worth $29,090,000 at the end of the most recent quarter.
Several other hedge funds have also recently added to or reduced their stakes in the company. Metropolitan Life Insurance Co. NY raised its position in shares of Incyte by 0.3% during the fourth quarter. Metropolitan Life Insurance Co. NY now owns 34,590 shares of the biopharmaceutical company’s stock worth $2,200,000 after acquiring an additional 120 shares during the last quarter. Thrivent Financial for Lutherans raised its position in shares of Incyte by 1.8% during the fourth quarter. Thrivent Financial for Lutherans now owns 7,688 shares of the biopharmaceutical company’s stock worth $489,000 after acquiring an additional 135 shares during the last quarter. ETF Managers Group LLC raised its position in shares of Incyte by 9.8% during the first quarter. ETF Managers Group LLC now owns 1,717 shares of the biopharmaceutical company’s stock worth $148,000 after acquiring an additional 153 shares during the last quarter. Grandfield & Dodd LLC raised its position in shares of Incyte by 2.1% during the fourth quarter. Grandfield & Dodd LLC now owns 8,137 shares of the biopharmaceutical company’s stock worth $517,000 after acquiring an additional 169 shares during the last quarter. Finally, Daiwa Securities Group Inc. raised its position in shares of Incyte by 2.4% during the fourth quarter. Daiwa Securities Group Inc. now owns 7,747 shares of the biopharmaceutical company’s stock worth $493,000 after acquiring an additional 180 shares during the last quarter. Institutional investors own 91.17% of the company’s stock.
In other Incyte news, EVP Paula J. Swain sold 10,000 shares of the business’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $87.01, for a total value of $870,100.00. Following the completion of the transaction, the executive vice president now directly owns 38,295 shares of the company’s stock, valued at $3,332,047.95. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 17.10% of the stock is currently owned by insiders.
NASDAQ:INCY opened at $77.71 on Friday. Incyte Co. has a 1 year low of $57.00 and a 1 year high of $88.83. The company has a quick ratio of 5.21, a current ratio of 5.22 and a debt-to-equity ratio of 0.01. The stock has a market capitalization of $16.66 billion, a price-to-earnings ratio of 94.77 and a beta of 1.20.
Incyte (NASDAQ:INCY) last posted its earnings results on Tuesday, April 30th. The biopharmaceutical company reported $0.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.33 by $0.29. Incyte had a return on equity of 13.28% and a net margin of 12.66%. The firm had revenue of $497.86 million during the quarter, compared to analysts’ expectations of $488.00 million. During the same period in the previous year, the firm earned ($0.01) earnings per share. The company’s revenue was up 30.2% on a year-over-year basis. As a group, equities research analysts anticipate that Incyte Co. will post 1.78 earnings per share for the current year.
A number of equities research analysts recently commented on the company. BidaskClub upgraded Incyte from a “strong sell” rating to a “sell” rating in a report on Friday, May 3rd. Cowen reiterated a “buy” rating on shares of Incyte in a report on Monday, April 22nd. Royal Bank of Canada upped their price objective on Incyte to $89.00 and gave the company an “outperform” rating in a report on Friday, February 15th. Raymond James set a $100.00 price objective on Incyte and gave the company a “buy” rating in a report on Friday, February 15th. Finally, Oppenheimer set a $85.00 price objective on Incyte and gave the company a “hold” rating in a report on Sunday, April 7th. Thirteen research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. Incyte presently has an average rating of “Hold” and a consensus target price of $88.00.
ILLEGAL ACTIVITY WARNING: This news story was reported by Dispatch Tribunal and is the property of of Dispatch Tribunal. If you are accessing this news story on another publication, it was illegally copied and republished in violation of United States and international trademark and copyright laws. The legal version of this news story can be viewed at https://www.dispatchtribunal.com/2019/06/15/neuberger-berman-group-llc-sells-3233-shares-of-incyte-co-nasdaqincy.html.
Incyte Corporation, a biopharmaceutical company, focuses on the discovery, development, and commercialization of various therapeutics in the United States. The company offers JAKAFI, a drug for the treatment of myelofibrosis and polycythemia vera cancers; and Iclusig, a kinase inhibitor to treat chronic myeloid leukemia and philadelphia-chromosome positive acute lymphoblastic leukemia.
Read More: Asset Allocation
Want to see what other hedge funds are holding INCY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Incyte Co. (NASDAQ:INCY).
Receive News & Ratings for Incyte Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Incyte and related companies with MarketBeat.com's FREE daily email newsletter.