Hutchison China MediTech (NASDAQ:HCM) Lowered to Hold at Zacks Investment Research

Zacks Investment Research lowered shares of Hutchison China MediTech (NASDAQ:HCM) from a buy rating to a hold rating in a research report report published on Wednesday morning, Zacks.com reports.

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. “

Several other equities research analysts have also weighed in on the company. BidaskClub upgraded Hutchison China MediTech from a hold rating to a buy rating in a report on Tuesday, January 5th. Deutsche Bank Aktiengesellschaft initiated coverage on Hutchison China MediTech in a report on Friday, October 2nd. They issued a buy rating and a $40.00 target price for the company. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The company currently has a consensus rating of Buy and a consensus target price of $40.00.

HCM opened at $34.23 on Wednesday. The business has a 50 day moving average price of $30.98 and a 200 day moving average price of $31.13. Hutchison China MediTech has a twelve month low of $14.74 and a twelve month high of $37.00. The company has a debt-to-equity ratio of 0.07, a quick ratio of 3.01 and a current ratio of 3.14. The firm has a market cap of $4.57 billion, a P/E ratio of -42.79 and a beta of 1.13.

Hedge funds have recently modified their holdings of the company. Sands Capital Management LLC grew its position in Hutchison China MediTech by 30.8% during the 3rd quarter. Sands Capital Management LLC now owns 3,272,034 shares of the company’s stock worth $105,687,000 after acquiring an additional 770,058 shares during the last quarter. JPMorgan Chase & Co. raised its stake in Hutchison China MediTech by 7.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,421,554 shares of the company’s stock valued at $45,134,000 after buying an additional 103,722 shares during the last quarter. State Street Corp raised its stake in Hutchison China MediTech by 3.3% during the 3rd quarter. State Street Corp now owns 1,099,877 shares of the company’s stock valued at $35,526,000 after buying an additional 34,903 shares during the last quarter. Great West Life Assurance Co. Can raised its stake in Hutchison China MediTech by 875.7% during the 3rd quarter. Great West Life Assurance Co. Can now owns 444,973 shares of the company’s stock valued at $2,822,000 after buying an additional 399,369 shares during the last quarter. Finally, Bank of America Corp DE raised its stake in Hutchison China MediTech by 28.5% during the 2nd quarter. Bank of America Corp DE now owns 415,860 shares of the company’s stock valued at $11,469,000 after buying an additional 92,339 shares during the last quarter. Institutional investors own 30.21% of the company’s stock.

Hutchison China MediTech Company Profile

Hutchison China MediTech Limited, a commercial-stage biopharmaceutical company, engages in the discovery, development, and commercialization of targeted therapeutics and immunotherapies for oncology and immunological diseases in the People's Republic of China. It operates through Innovation Platform and Commercial Platform segments.

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