Kornitzer Capital Management Inc. KS Sells 92,623 Shares of Roche Holding AG (OTCMKTS:RHHBY)

Kornitzer Capital Management Inc. KS reduced its stake in Roche Holding AG (OTCMKTS:RHHBY) by 40.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 135,125 shares of the company’s stock after selling 92,623 shares during the period. Kornitzer Capital Management Inc. KS’s holdings in Roche were worth $4,690,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Saratoga Research & Investment Management grew its holdings in Roche by 6.9% in the 1st quarter. Saratoga Research & Investment Management now owns 2,458,918 shares of the company’s stock valued at $78,489,000 after buying an additional 158,482 shares in the last quarter. Cardinal Capital Management Inc. acquired a new stake in shares of Roche during the second quarter valued at about $16,860,000. OLD National Bancorp IN raised its stake in shares of Roche by 3.2% during the second quarter. OLD National Bancorp IN now owns 265,242 shares of the company’s stock valued at $9,206,000 after acquiring an additional 8,146 shares during the last quarter. Meritage Portfolio Management boosted its stake in shares of Roche by 186.9% in the 1st quarter. Meritage Portfolio Management now owns 174,714 shares of the company’s stock valued at $5,577,000 after purchasing an additional 113,823 shares during the last quarter. Finally, Rhumbline Advisers lifted its holdings in Roche by 0.9% in the second quarter. Rhumbline Advisers now owns 103,985 shares of the company’s stock valued at $3,605,000 after buying an additional 904 shares during the period.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. The Goldman Sachs Group initiated coverage on shares of Roche in a report on Thursday, May 30th. They set a “sell” rating on the stock. Deutsche Bank Aktiengesellschaft raised shares of Roche from a “sell” rating to a “hold” rating in a research report on Friday, May 17th. Two analysts have rated the stock with a sell rating and three have assigned a hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $40.00.

Roche Price Performance

Shares of OTCMKTS:RHHBY opened at $40.64 on Friday. Roche Holding AG has a 1-year low of $29.20 and a 1-year high of $42.43. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.04 and a current ratio of 1.35. The stock’s fifty day simple moving average is $39.02 and its two-hundred day simple moving average is $34.55.

Roche Profile

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.