Zacks Investment Research Downgrades China Biologic Products Inc. (CBPO) to Hold
China Biologic Products Inc. (NASDAQ:CBPO) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Tuesday.
According to Zacks, “China Biologic Products, Inc., through its indirect majority-owned subsidiary, is principally engaged in the research, development, production, manufacturing and sale of plasma-based biopharmaceutical products to hospitals and other health care facilities in China. Its subsidiary, Shandong Taibang Biological Products Co. Ltd., operates from its manufacturing facility located in Taian City, Shandong Province. The Company’s principal products include its approved human albumin and immunoglobulin products. These human albumin products are mainly used to increase blood volume and its immunoglobulin products are used for the treatment and prevention of diseases. “
A number of other equities research analysts have also recently issued reports on the company. Jefferies Group reiterated a “buy” rating and set a $136.00 price objective on shares of China Biologic Products in a research note on Friday, July 22nd. Credit Suisse Group AG upgraded China Biologic Products from a “neutral” rating to an “outperform” rating in a research note on Tuesday, July 5th.
Shares of China Biologic Products (NASDAQ:CBPO) opened at 120.00 on Tuesday. China Biologic Products has a 1-year low of $94.53 and a 1-year high of $144.29. The firm’s 50-day moving average is $119.58 and its 200-day moving average is $117.28. The firm has a market cap of $3.23 billion, a P/E ratio of 34.60 and a beta of 1.55.
China Biologic Products (NASDAQ:CBPO) last announced its quarterly earnings data on Thursday, August 4th. The biopharmaceutical company reported $1.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.16 by $0.10. China Biologic Products had a return on equity of 19.65% and a net margin of 29.66%. The company had revenue of $91.40 million for the quarter, compared to analysts’ expectations of $87.60 million. During the same quarter in the prior year, the business posted $1.06 EPS. The business’s revenue was up 15.6% compared to the same quarter last year. On average, analysts anticipate that China Biologic Products will post $4.33 EPS for the current fiscal year.
In related news, insider Zhijing Cbpo Liu sold 1,968 shares of the stock in a transaction on Monday, August 15th. The stock was sold at an average price of $124.32, for a total value of $244,661.76. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Wenfang Liu sold 2,900 shares of the stock in a transaction on Monday, August 15th. The shares were sold at an average price of $124.32, for a total value of $360,528.00. Following the completion of the sale, the director now owns 3,383 shares in the company, valued at approximately $420,574.56. The disclosure for this sale can be found here. 2.68% of the stock is owned by corporate insiders.
Large investors have recently bought and sold shares of the stock. Baillie Gifford & Co. acquired a new stake in China Biologic Products during the second quarter worth $155,307,000. Capital Research Global Investors boosted its stake in China Biologic Products by 42.5% in the second quarter. Capital Research Global Investors now owns 3,031,654 shares of the biopharmaceutical company’s stock worth $322,325,000 after buying an additional 904,377 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its stake in China Biologic Products by 590.9% in the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 397,893 shares of the biopharmaceutical company’s stock worth $42,304,000 after buying an additional 340,304 shares during the period. Ameriprise Financial Inc. boosted its stake in China Biologic Products by 266.3% in the second quarter. Ameriprise Financial Inc. now owns 189,841 shares of the biopharmaceutical company’s stock worth $20,183,000 after buying an additional 138,020 shares during the period. Finally, AGF Investments Inc. boosted its stake in China Biologic Products by 116,781.6% in the second quarter. AGF Investments Inc. now owns 133,245 shares of the biopharmaceutical company’s stock worth $14,164,000 after buying an additional 133,131 shares during the period. Institutional investors and hedge funds own 71.71% of the company’s stock.
About China Biologic Products
China Biologic Products, Inc (China Biologic) is a biopharmaceutical company. The Company is principally engaged in the research, development, manufacturing and sales of human plasma-based biopharmaceutical products in China. It operates in the manufacture and sales of human plasma products segment. It has a product portfolio with over 20 various dosage forms of plasma products and other biopharmaceutical products across over nine categories.
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