China Biologic Products Inc. (CBPO) Lowered to Hold at Zacks Investment Research
China Biologic Products Inc. (NASDAQ:CBPO) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Tuesday.
According to Zacks, “China Biologic Products, Inc., through its indirect majority-owned subsidiary, is principally engaged in the research, development, production, manufacturing and sale of plasma-based biopharmaceutical products to hospitals and other health care facilities in China. Its subsidiary, Shandong Taibang Biological Products Co. Ltd., operates from its manufacturing facility located in Taian City, Shandong Province. The Company’s principal products include its approved human albumin and immunoglobulin products. These human albumin products are mainly used to increase blood volume and its immunoglobulin products are used for the treatment and prevention of diseases. “
Several other research firms have also recently weighed in on CBPO. Jefferies Group reiterated a “buy” rating and set a $136.00 price objective on shares of China Biologic Products in a research report on Friday, July 22nd. Credit Suisse Group AG upgraded China Biologic Products from a “neutral” rating to an “outperform” rating in a research report on Tuesday, July 5th.
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Shares of China Biologic Products (NASDAQ:CBPO) traded down 2.51% on Tuesday, reaching $120.09. 168,361 shares of the company traded hands. China Biologic Products has a one year low of $95.70 and a one year high of $144.29. The firm’s 50 day moving average is $119.27 and its 200 day moving average is $117.24. The company has a market capitalization of $3.23 billion, a P/E ratio of 34.63 and a beta of 1.55.
China Biologic Products (NASDAQ:CBPO) last announced its quarterly earnings results on Thursday, August 4th. The biopharmaceutical company reported $1.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.16 by $0.10. China Biologic Products had a return on equity of 19.65% and a net margin of 29.66%. The business earned $91.40 million during the quarter, compared to the consensus estimate of $87.60 million. During the same quarter last year, the firm posted $1.06 EPS. The company’s quarterly revenue was up 15.6% on a year-over-year basis. Analysts expect that China Biologic Products will post $4.33 earnings per share for the current fiscal year.
In related news, CFO Ming Yang sold 21,092 shares of the firm’s stock in a transaction on Monday, August 15th. The stock was sold at an average price of $124.32, for a total value of $2,622,157.44. Following the transaction, the chief financial officer now owns 24,782 shares in the company, valued at $3,080,898.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Zhijing Cbpo Liu sold 1,968 shares of the firm’s stock in a transaction on Monday, August 15th. The stock was sold at an average price of $124.32, for a total value of $244,661.76. The disclosure for this sale can be found here. Company insiders own 2.68% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of CBPO. Copper Rock Capital Partners LLC boosted its position in shares of China Biologic Products by 9.3% in the third quarter. Copper Rock Capital Partners LLC now owns 22,901 shares of the biopharmaceutical company’s stock worth $2,834,000 after buying an additional 1,941 shares during the last quarter. BNP Paribas Arbitrage SA boosted its position in shares of China Biologic Products by 3,357.5% in the third quarter. BNP Paribas Arbitrage SA now owns 1,383 shares of the biopharmaceutical company’s stock worth $172,000 after buying an additional 1,343 shares during the last quarter. Macquarie Group Ltd. bought a new position in shares of China Biologic Products during the second quarter worth approximately $2,721,000. CI Investments Inc. boosted its position in shares of China Biologic Products by 13.1% in the second quarter. CI Investments Inc. now owns 65,700 shares of the biopharmaceutical company’s stock worth $6,985,000 after buying an additional 7,600 shares during the last quarter. Finally, Royal Bank of Canada bought a new position in shares of China Biologic Products during the second quarter worth approximately $9,733,000. Institutional investors own 71.71% of the company’s stock.
China Biologic Products Company Profile
China Biologic Products, Inc (China Biologic) is a biopharmaceutical company. The Company is principally engaged in the research, development, manufacturing and sales of human plasma-based biopharmaceutical products in China. It operates in the manufacture and sales of human plasma products segment. It has a product portfolio with over 20 various dosage forms of plasma products and other biopharmaceutical products across over nine categories.
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