MAI Capital Management reduced its position in shares of Roche Holding AG (OTCMKTS:RHHBY – Get Rating) by 19.1% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,332 shares of the company's stock after selling 3,385 shares during the quarter. MAI Capital Management's holdings in Roche were worth $598,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also bought and sold shares of RHHBY. Sofinnova Investments Inc. acquired a new stake in shares of Roche during the 4th quarter worth about $70,764,000. Fisher Asset Management LLC lifted its position in Roche by 25.0% during the first quarter. Fisher Asset Management LLC now owns 5,823,906 shares of the company's stock worth $289,890,000 after acquiring an additional 1,165,391 shares during the last quarter. Cardinal Capital Management Inc. bought a new stake in shares of Roche during the first quarter worth approximately $18,402,000. Cullen Capital Management LLC grew its position in shares of Roche by 11.8% in the first quarter. Cullen Capital Management LLC now owns 1,144,467 shares of the company's stock valued at $56,548,000 after purchasing an additional 120,595 shares during the last quarter. Finally, Kempner Capital Management Inc. bought a new position in shares of Roche during the first quarter worth approximately $3,625,000. Institutional investors own 0.23% of the company's stock.
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Analyst Upgrades and Downgrades
A number of equities research analysts have recently weighed in on RHHBY shares. Cowen dropped their target price on Roche from $58.00 to $48.00 and set an "outperform" rating for the company in a report on Monday, June 27th. Jefferies Financial Group raised shares of Roche from a "hold" rating to a "buy" rating in a report on Thursday, September 8th. Deutsche Bank Aktiengesellschaft reduced their price target on Roche from CHF 350 to CHF 325 and set a "hold" rating on the stock in a research report on Friday, July 22nd. Cowen cut their target price on Roche from $58.00 to $48.00 and set an "outperform" rating for the company in a research report on Monday, June 27th. Finally, Credit Suisse Group upgraded Roche from a "neutral" rating to an "outperform" rating in a research report on Thursday, September 15th. One analyst has rated the stock with a sell rating, three have given a hold rating and eight have issued a buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $260.14.
Roche Price Performance
RHHBY opened at $40.62 on Friday. The company's 50 day moving average is $41.30 and its 200-day moving average is $43.42. Roche Holding AG has a 1-year low of $37.88 and a 1-year high of $53.86. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.73 and a current ratio of 0.93.
Roche Profile
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Roche Holding AG engages in the pharmaceuticals and diagnostics businesses in Switzerland, Germany, the United States, Austria, Netherlands, the United Kingdom, France, Belgium, and internationally. The company offers pharmaceutical products for treating oncology, neuroscience, infectious, immunology, cardiovascular and metabolism, ophthalmology, and respiratory, as well as anemia, cancer, dermatology, hemophilia, inflammatory and autoimmune, neurological, and transplantation.
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