Patheon NV (NASDAQ:PTHN) Shares Sold by Fmr LLC
Fmr LLC reduced its stake in Patheon NV (NASDAQ:PTHN) by 65.3% during the first quarter, Holdings Channel reports. The firm owned 702,772 shares of the company’s stock after selling 1,325,218 shares during the period. Fmr LLC’s holdings in Patheon NV were worth $18,511,000 at the end of the most recent quarter.
A number of other institutional investors have also modified their holdings of PTHN. Wellington Management Group LLP raised its stake in 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 Patheon NV during the first quarter valued at approximately $24,290,000. Ameriprise Financial Inc. raised its stake in 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 raised its stake in 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, Zweig DiMenna Associates LLC bought a new stake in Patheon NV during the first quarter valued at approximately $6,585,000.
Patheon NV (NASDAQ:PTHN) opened at 34.86 on Wednesday. The stock has a market cap of $5.06 billion and a price-to-earnings ratio of 44.69. The stock’s 50 day moving average price is $34.82 and its 200-day moving average price is $30.43. Patheon NV has a 12 month low of $23.72 and a 12 month high of $35.00.
Patheon NV (NASDAQ:PTHN) last announced its quarterly earnings data on Thursday, June 8th. The company reported $0.20 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.19 by $0.01. The business had revenue of $483.40 million for the quarter, compared to analyst estimates of $466.08 million. The firm’s revenue was up 3.2% compared to the same quarter last year. Equities research analysts predict that Patheon NV will post $1.14 EPS for the current year.
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Several equities research analysts have commented on PTHN shares. Zacks Investment Research lowered Patheon NV from a “hold” rating to a “strong sell” rating in a research report on Wednesday, March 22nd. Piper Jaffray Companies lowered Patheon NV from an “overweight” rating to a “neutral” rating in a research report on Monday, May 15th. William Blair lowered Patheon NV from an “outperform” rating to a “market perform” rating in a research report on Monday, May 15th. Evercore ISI lowered Patheon NV to an “outperform” rating and set a $35.00 price objective on the stock. in a research report on Monday, May 15th. Finally, Jefferies Group LLC lowered Patheon NV from a “buy” rating to a “hold” rating and upped their price objective for the stock from $32.00 to $35.00 in a research report on Tuesday, May 16th. Eight analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $32.88.
Patheon NV Company Profile
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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