FY2024 Earnings Estimate for HUTCHMED (China) Limited Issued By Trinity Delta (NASDAQ:HCM)

HUTCHMED (China) Limited (NASDAQ:HCM) – Research analysts at Trinity Delta boosted their FY2024 earnings estimates for HUTCHMED in a research report issued on Wednesday, April 3rd. Trinity Delta analyst L. Gregorek now expects that the company will post earnings per share of ($0.71) for the year, up from their previous estimate of ($0.82). The consensus estimate for HUTCHMED’s current full-year earnings is ($0.45) per share.

Several other research analysts have also recently commented on HCM. StockNews.com raised HUTCHMED from a “hold” rating to a “buy” rating in a research report on Wednesday, March 27th. Cantor Fitzgerald reissued an “overweight” rating on shares of HUTCHMED in a report on Friday, January 12th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $29.70.

HUTCHMED Stock Up 6.3 %

Shares of HCM stock opened at $17.94 on Monday. HUTCHMED has a one year low of $10.68 and a one year high of $20.73. The stock has a fifty day moving average price of $15.44 and a 200 day moving average price of $16.72. The company has a quick ratio of 2.60, a current ratio of 2.72 and a debt-to-equity ratio of 0.06.

Institutional Trading of HUTCHMED

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in HCM. Goldman Sachs Group Inc. increased its position in HUTCHMED by 1,096.7% in the second quarter. Goldman Sachs Group Inc. now owns 3,913,287 shares of the company’s stock worth $49,464,000 after purchasing an additional 3,586,271 shares during the period. Bellevue Group AG increased its position in HUTCHMED by 62.6% in the first quarter. Bellevue Group AG now owns 1,750,690 shares of the company’s stock worth $33,123,000 after purchasing an additional 673,820 shares during the period. Millennium Management LLC increased its position in HUTCHMED by 141.0% in the fourth quarter. Millennium Management LLC now owns 870,022 shares of the company’s stock worth $12,859,000 after purchasing an additional 508,959 shares during the period. Renaissance Technologies LLC acquired a new stake in HUTCHMED in the second quarter worth about $5,266,000. Finally, Jane Street Group LLC increased its position in HUTCHMED by 450.0% in the fourth quarter. Jane Street Group LLC now owns 391,802 shares of the company’s stock worth $5,791,000 after purchasing an additional 320,568 shares during the period. 8.82% of the stock is currently owned by institutional investors and hedge funds.

About HUTCHMED

HUTCHMED (China) Limited, together with its subsidiaries, discovers, develops, and commercializes targeted therapeutics and immunotherapies for cancer and immunological diseases in Hong Kong and internationally. The company develops Savolitinib for the treatment of non-small cell lung cancer (NSCLC), papillary renal cell carcinoma (RCC), and gastric cancer (GC); and Fruquintinib, an inhibitor for colorectal cancer (CRC), breast cancer, gastric cancer, microsatellite stable-CRC endometrial cancer (EMC), NSCLC, RCC, gastrointestinal, cervical, and solid tumors.