Kornitzer Capital Management Inc. KS Reduces Stake in Roche Holding AG (OTCMKTS:RHHBY)

Kornitzer Capital Management Inc. KS reduced its position in Roche Holding AG (OTCMKTS:RHHBY) by 8.2% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 233,756 shares of the company’s stock after selling 20,891 shares during the period. Kornitzer Capital Management Inc. KS’s holdings in Roche were worth $8,488,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the company. First Horizon Advisors Inc. increased its stake in Roche by 39.4% in the 3rd quarter. First Horizon Advisors Inc. now owns 1,724 shares of the company’s stock valued at $58,000 after purchasing an additional 487 shares in the last quarter. Bard Financial Services Inc. increased its stake in Roche by 3.6% in the 3rd quarter. Bard Financial Services Inc. now owns 14,500 shares of the company’s stock valued at $492,000 after purchasing an additional 500 shares in the last quarter. Paradigm Asset Management Co. LLC increased its stake in Roche by 18.4% in the 3rd quarter. Paradigm Asset Management Co. LLC now owns 5,151 shares of the company’s stock valued at $175,000 after purchasing an additional 800 shares in the last quarter. Wetzel Investment Advisors Inc. purchased a new position in Roche in the 4th quarter valued at approximately $53,000. Finally, Operose Advisors LLC acquired a new stake in Roche during the 3rd quarter valued at $59,000.

Roche Stock Performance

Shares of RHHBY stock traded up $0.36 during mid-day trading on Friday, hitting $30.41. 18,593,670 shares of the company’s stock were exchanged, compared to its average volume of 3,155,297. Roche Holding AG has a fifty-two week low of $29.95 and a fifty-two week high of $40.48. The stock has a 50-day simple moving average of $32.07 and a two-hundred day simple moving average of $33.73. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.35 and a quick ratio of 1.04.

Wall Street Analyst Weigh In

RHHBY has been the topic of a number of analyst reports. Morgan Stanley cut Roche from an “equal weight” rating to an “underweight” rating in a report on Tuesday, January 16th. Argus reiterated a “hold” rating on shares of Roche in a report on Monday, March 4th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $40.00.

About Roche

Roche Holding AG engages in the pharmaceuticals and diagnostics businesses in Europe, North America, Latin America, Asia, Africa, Australia, and Oceania. The company offers pharmaceutical products in the therapeutic areas of anemia, blood and solid tumors, dermatology, hemophilia, inflammatory and autoimmune, neurological disorders, ophthalmology, respiratory disorders, and transplantation.