Icon Advisers Inc. Co. Invests $1,929,000 in China Biologic Products Inc. (CBPO)
Icon Advisers Inc. Co. bought a new stake in shares of China Biologic Products Inc. (NASDAQ:CBPO) during the third quarter, Holdings Channel reports. The fund bought 15,500 shares of the biopharmaceutical company’s stock, valued at approximately $1,929,000.
A number of other institutional investors also recently added to or reduced their stakes in CBPO. BNP Paribas Arbitrage SA boosted its position in China Biologic Products by 3,357.5% in the third quarter. BNP Paribas Arbitrage SA now owns 1,383 shares of the biopharmaceutical company’s stock valued at $172,000 after buying an additional 1,343 shares during the last quarter. BlackRock Investment Management LLC bought a new position in China Biologic Products during the second quarter valued at approximately $158,000. Capstone Investment Advisors LLC bought a new position in China Biologic Products during the second quarter valued at approximately $223,000. Legal & General Group Plc boosted its position in China Biologic Products by 23.5% in the second quarter. Legal & General Group Plc now owns 2,101 shares of the biopharmaceutical company’s stock valued at $223,000 after buying an additional 400 shares during the last quarter. Finally, Capital Fund Management S.A. bought a new position in China Biologic Products during the second quarter valued at approximately $268,000. 70.11% of the stock is currently owned by hedge funds and other institutional investors.
China Biologic Products Inc. (NASDAQ:CBPO) traded up 1.15% during trading on Tuesday, hitting $120.28. 157,680 shares of the stock traded hands. The stock has a market cap of $3.26 billion, a P/E ratio of 32.98 and a beta of 1.70. China Biologic Products Inc. has a 52 week low of $100.53 and a 52 week high of $144.29. The firm’s 50-day moving average is $118.52 and its 200 day moving average is $116.86.
China Biologic Products (NASDAQ:CBPO) last issued its earnings results on Wednesday, November 2nd. The biopharmaceutical company reported $1.22 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.05 by $0.17. China Biologic Products had a net margin of 30.63% and a return on equity of 19.61%. The company had revenue of $86.50 million for the quarter, compared to the consensus estimate of $88.46 million. During the same quarter in the previous year, the company earned $0.99 EPS. The firm’s revenue for the quarter was up 9.9% compared to the same quarter last year. Equities research analysts forecast that China Biologic Products Inc. will post $4.51 earnings per share for the current fiscal year.
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Several equities analysts have recently weighed in on the stock. Jefferies Group restated a “buy” rating and set a $155.00 price objective on shares of China Biologic Products in a research report on Friday, November 4th. Zacks Investment Research lowered shares of China Biologic Products from a “buy” rating to a “hold” rating in a research report on Friday, August 12th.
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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