First Citizens Bank & Trust Co. Has $691,000 Position in Anika Therapeutics Inc. (ANIK)
First Citizens Bank & Trust Co. cut its position in shares of Anika Therapeutics Inc. (NASDAQ:ANIK) by 8.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 12,886 shares of the company’s stock after selling 1,246 shares during the period. First Citizens Bank & Trust Co.’s holdings in Anika Therapeutics were worth $691,000 at the end of the most recent reporting period.
Other hedge funds have also recently made changes to their positions in the company. Bank of Montreal Can acquired a new position in shares of Anika Therapeutics during the second quarter worth approximately $247,000. BNP Paribas Arbitrage SA increased its position in shares of Anika Therapeutics by 87.3% in the second quarter. BNP Paribas Arbitrage SA now owns 4,685 shares of the company’s stock worth $251,000 after buying an additional 2,184 shares during the period. Capstone Asset Management Co. increased its position in shares of Anika Therapeutics by 3.2% in the second quarter. Capstone Asset Management Co. now owns 4,830 shares of the company’s stock worth $259,000 after buying an additional 150 shares during the period. Capital One National Association acquired a new position in shares of Anika Therapeutics during the second quarter worth approximately $277,000. Finally, Adams Diversified Equity Fund Inc. acquired a new position in shares of Anika Therapeutics during the second quarter worth approximately $483,000. Hedge funds and other institutional investors own 77.84% of the company’s stock.
Shares of Anika Therapeutics Inc. (NASDAQ:ANIK) traded down 2.19% during trading on Thursday, hitting $45.56. The stock had a trading volume of 89,885 shares. The stock’s 50 day moving average price is $47.44 and its 200-day moving average price is $48.11. The stock has a market cap of $673.24 million, a P/E ratio of 19.89 and a beta of 1.49. Anika Therapeutics Inc. has a one year low of $32.76 and a one year high of $54.96.
Anika Therapeutics (NASDAQ:ANIK) last announced its quarterly earnings results on Wednesday, July 27th. The company reported $0.57 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.44 by $0.13. The business earned $26.60 million during the quarter, compared to the consensus estimate of $24.75 million. Anika Therapeutics had a net margin of 33.77% and a return on equity of 17.24%. The business’s revenue was up 16.2% compared to the same quarter last year. During the same quarter last year, the firm earned $0.51 EPS. Analysts expect that Anika Therapeutics Inc. will post $2.00 earnings per share for the current fiscal year.
Separately, Zacks Investment Research raised shares of Anika Therapeutics from a “hold” rating to a “strong-buy” rating and set a $58.00 price objective for the company in a research note on Monday, August 1st.
Anika Therapeutics Company Profile
Anika Therapeutics, Inc is an orthopedic medicines company. The Company offers therapeutic pain management solutions. It is engaged in developing, manufacturing and commercializing approximately 20 products based on its hyaluronic acid (HA) technology. It orthopedic medicine portfolio consists of marketed (ORTHOVISC and MONOVISC) and pipeline (CINGAL and HYALOFAST in the United States) products to alleviate pain and restore joint function by replenishing depleted HA and aiding cartilage repair and regeneration.
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