Pictet Asset Management Ltd. cut its stake in shares of MedReleaf Corp. (NYSE:LEA) by 2.6% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 22,800 shares of the company’s stock after selling 600 shares during the period. Pictet Asset Management Ltd.’s holdings in MedReleaf Corp. were worth $3,946,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the business. State of Alaska Department of Revenue raised its position in MedReleaf Corp. by 1.3% during the second quarter. State of Alaska Department of Revenue now owns 1,574 shares of the company’s stock worth $223,000 after acquiring an additional 20 shares during the period. CIBC World Markets Inc. raised its position in MedReleaf Corp. by 0.3% during the second quarter. CIBC World Markets Inc. now owns 12,656 shares of the company’s stock worth $1,798,000 after acquiring an additional 40 shares during the period. Parallel Advisors LLC raised its position in MedReleaf Corp. by 3.9% during the second quarter. Parallel Advisors LLC now owns 1,117 shares of the company’s stock worth $166,000 after acquiring an additional 42 shares during the period. Benjamin F. Edwards & Company Inc. raised its position in MedReleaf Corp. by 6.1% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 831 shares of the company’s stock worth $118,000 after acquiring an additional 48 shares during the period. Finally, Pacer Advisors Inc. raised its position in MedReleaf Corp. by 2.8% during the second quarter. Pacer Advisors Inc. now owns 2,433 shares of the company’s stock worth $346,000 after acquiring an additional 66 shares during the period.

In other MedReleaf Corp. news, Director Jonathan F. Foster sold 2,854 shares of the stock in a transaction dated Tuesday, September 26th. The shares were sold at an average price of C$173.39, for a total transaction of C$494,855.06. Following the completion of the transaction, the director now owns 7,761 shares of the company’s stock, valued at C$1,345,679.79. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Mel Stephens sold 2,411 shares of the stock in a transaction dated Monday, September 25th. The stock was sold at an average price of C$172.88, for a total transaction of C$416,813.68. Following the transaction, the senior vice president now directly owns 44,484 shares of the company’s stock, valued at approximately C$7,690,393.92. The disclosure for this sale can be found here. Insiders sold 9,404 shares of company stock valued at $1,601,681 in the last three months.

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Shares of MedReleaf Corp. (LEA) opened at C$175.43 on Friday. MedReleaf Corp. has a 1-year low of C$117.53 and a 1-year high of C$178.80.

MedReleaf Corp. (NYSE:LEA) last announced its quarterly earnings data on Wednesday, October 25th. The company reported C$3.96 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of C$3.80 by C$0.16. MedReleaf Corp. had a net margin of 6.17% and a return on equity of 31.60%. The firm had revenue of C$4.98 billion during the quarter, compared to analyst estimates of C$4.84 billion. During the same quarter in the prior year, the firm posted $3.19 earnings per share. MedReleaf Corp.’s quarterly revenue was up 10.1% on a year-over-year basis.

A number of research firms have recently issued reports on LEA. Zacks Investment Research lowered shares of MedReleaf Corp. from a “buy” rating to a “hold” rating in a report on Tuesday, October 31st. Cowen and Company reaffirmed a “buy” rating and set a $196.00 target price on shares of MedReleaf Corp. in a report on Friday, October 27th. Barclays PLC upped their target price on shares of MedReleaf Corp. from $171.00 to $175.00 and gave the stock an “equal weight” rating in a report on Thursday, October 26th. Deutsche Bank AG upped their target price on shares of MedReleaf Corp. from $167.00 to $176.00 and gave the stock a “hold” rating in a report on Thursday, October 26th. Finally, Guggenheim lowered shares of MedReleaf Corp. from a “buy” rating to a “neutral” rating and set a $167.00 target price for the company. in a report on Thursday, October 26th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of C$173.13.

MedReleaf Corp. Profile

Lear Corporation (Lear) is a supplier to the global automotive industry. The Company is engaged in supplying seating, electrical distribution systems and electronic modules, as well as related sub-systems, components and software, to automotive manufacturers. The Company’s segments include Seating and E-Systems.

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Institutional Ownership by Quarter for MedReleaf Corp. (NYSE:LEA)

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