Zacks Investment Research downgraded shares of Patheon NV (NASDAQ:PTHN) from a buy rating to a hold rating in a report released on Thursday.

According to Zacks, “Patheon N.V. is a provider of pharmaceutical development and manufacturing services. Patheon N.V. is based in Amsterdam, Netherlands. “

PTHN has been the topic of several other reports. Jefferies Group LLC reaffirmed a buy rating and issued a $32.00 target price (down from $33.00) on shares of Patheon NV in a research report on Friday, March 17th. Robert W. Baird lowered Patheon NV from an outperform rating to a neutral rating and cut their target price for the stock from $34.00 to $28.00 in a research report on Friday, March 17th. Raymond James Financial, Inc. reaffirmed a market perform rating and issued a $35.00 target price on shares of Patheon NV in a research report on Thursday, June 8th. J P Morgan Chase & Co downgraded Patheon NV from an overweight rating to a neutral rating in a report on Thursday, June 8th. Finally, Evercore ISI downgraded Patheon NV to an outperform rating and set a $35.00 price target for the company. in a report on Monday, May 15th. Eight research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Patheon NV has a consensus rating of Hold and an average target price of $33.05.

Patheon NV (NASDAQ:PTHN) opened at 34.80 on Thursday. The company’s 50-day moving average price is $32.43 and its 200-day moving average price is $29.39. Patheon NV has a 12 month low of $23.72 and a 12 month high of $35.10. The stock has a market cap of $5.05 billion and a P/E ratio of 44.62.

Patheon NV (NASDAQ:PTHN) last issued its earnings results on Thursday, June 8th. The company reported $0.20 earnings per share for the quarter, topping the consensus estimate of $0.19 by $0.01. The firm had revenue of $483.40 million during the quarter, compared to analysts’ expectations of $466.08 million. The firm’s quarterly revenue was up 3.2% on a year-over-year basis. Equities analysts forecast that Patheon NV will post $1.14 earnings per share for the current year.

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Hedge funds have recently made changes to their positions in the stock. Wellington Management Group LLP increased its stake in shares of Patheon NV by 66.5% in the first quarter. Wellington Management Group LLP now owns 4,604,034 shares of the company’s stock valued at $121,270,000 after buying an additional 1,839,609 shares in the last quarter. OppenheimerFunds Inc. bought a new stake in shares of Patheon NV during the first quarter valued at about $24,290,000. Ameriprise Financial Inc. increased its stake in shares of Patheon NV by 47.6% in the first quarter. Ameriprise Financial Inc. now owns 1,803,720 shares of the company’s stock valued at $47,511,000 after buying an additional 581,914 shares in the last quarter. Schroder Investment Management Group increased its stake in shares of Patheon NV by 68.3% in the first quarter. Schroder Investment Management Group now owns 1,007,821 shares of the company’s stock valued at $26,375,000 after buying an additional 409,100 shares in the last quarter. Finally, Redmile Group LLC increased its stake in shares of Patheon NV by 87.6% in the first quarter. Redmile Group LLC now owns 826,843 shares of the company’s stock valued at $21,779,000 after buying an additional 386,123 shares in the last quarter.

About Patheon NV

Patheon N.V. is a provider of outsourced pharmaceutical development and manufacturing services. The Company’s segments include Drug Product Services (DPS), Pharmaceutical Development Services (PDS) and Drug Substance Services (DSS). The DPS segment is engaged in manufacturing and packaging for approved prescription, over-the-counter (OTC) and nutritional products.

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