Lazard Asset Management LLC Buys 14,696 Shares of BeOne Medicines Ltd. – Sponsored ADR $ONC

Lazard Asset Management LLC boosted its stake in shares of BeOne Medicines Ltd. – Sponsored ADR (NASDAQ:ONC) by 30.5% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 62,917 shares of the company’s stock after purchasing an additional 14,696 shares during the period. Lazard Asset Management LLC owned about 0.06% of BeOne Medicines worth $18,684,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Renaissance Technologies LLC purchased a new stake in BeOne Medicines in the first quarter worth about $19,438,000. Arrowstreet Capital Limited Partnership lifted its position in shares of BeOne Medicines by 96.3% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 110,586 shares of the company’s stock valued at $32,841,000 after buying an additional 54,260 shares in the last quarter. First Trust Advisors LP lifted its position in shares of BeOne Medicines by 91.9% during the 1st quarter. First Trust Advisors LP now owns 241,426 shares of the company’s stock valued at $71,696,000 after buying an additional 115,601 shares in the last quarter. ABN Amro Investment Solutions lifted its position in shares of BeOne Medicines by 48.3% during the 1st quarter. ABN Amro Investment Solutions now owns 47,564 shares of the company’s stock valued at $14,125,000 after buying an additional 15,488 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in shares of BeOne Medicines by 15.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 56,879 shares of the company’s stock valued at $16,859,000 after acquiring an additional 7,815 shares during the period. Institutional investors own 48.55% of the company’s stock.

BeOne Medicines Price Performance

ONC stock opened at $330.46 on Wednesday. The company has a debt-to-equity ratio of 0.20, a quick ratio of 3.27 and a current ratio of 3.64. The company’s fifty day moving average price is $292.77 and its 200-day moving average price is $309.37. BeOne Medicines Ltd. – Sponsored ADR has a one year low of $253.95 and a one year high of $385.22. The company has a market capitalization of $36.26 billion, a PE ratio of 73.93 and a beta of 0.49.

BeOne Medicines (NASDAQ:ONC) last posted its earnings results on Wednesday, April 1st. The company reported $0.25 earnings per share for the quarter. The company had revenue of $1.51 billion during the quarter. BeOne Medicines had a net margin of 8.94% and a return on equity of 12.06%. On average, equities analysts anticipate that BeOne Medicines Ltd. – Sponsored ADR will post 5.93 EPS for the current fiscal year.

Insider Activity

In other BeOne Medicines news, CEO John Oyler sold 145,861 shares of the stock in a transaction dated Tuesday, July 14th. The shares were sold at an average price of $305.95, for a total transaction of $44,626,172.95. Following the completion of the transaction, the chief executive officer owned 8,122 shares of the company’s stock, valued at $2,484,925.90. This represents a 94.73% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Xiaobin Wu sold 1,484 shares of the firm’s stock in a transaction dated Monday, June 8th. The shares were sold at an average price of $269.37, for a total value of $399,745.08. Following the transaction, the chief operating officer owned 40 shares of the company’s stock, valued at approximately $10,774.80. The trade was a 97.38% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 343,360 shares of company stock valued at $104,926,209 in the last three months. Insiders own 6.19% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. Truist Financial increased their target price on shares of BeOne Medicines from $413.00 to $416.00 and gave the stock a “buy” rating in a report on Tuesday, July 7th. Barclays lowered their price target on shares of BeOne Medicines from $409.00 to $403.00 and set an “overweight” rating on the stock in a report on Tuesday, July 14th. Weiss Ratings reiterated a “sell (d-)” rating on shares of BeOne Medicines in a research report on Friday, July 17th. Wall Street Zen raised shares of BeOne Medicines from a “buy” rating to a “strong-buy” rating in a research note on Saturday, July 18th. Finally, Nomura upgraded shares of BeOne Medicines to a “strong-buy” rating in a research report on Monday. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $394.00.

BeOne Medicines Company Profile

BeOne Medicines Ltd. is a global oncology company domiciled in Switzerland that is discovering and developing innovative treatments that are more affordable and accessible to cancer patients worldwide. The firm portfolio spanning hematology and solid tumors, BeOne is expediting development of its diverse pipeline of novel therapeutics through its internal capabilities and collaborations. The company was founded by Xiao Dong Wang and John V. Oyler on October 28, 2010 and is headquartered in Basel, Switzerland.