Roche Holding Ltd. (RHHBY) Downgraded by Zacks Investment Research
Roche Holding Ltd. (NASDAQ:RHHBY) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a research note issued to investors on Monday.
According to Zacks, “Roche continues to face competition from generics for some of its key drugs. Entry of generics and pricing pressure for some of its drugs like Pegasys, Xeloda and Valcyte would hurt the top line in the coming quarters. In addition, possibility of stiff competition from biosimilars looms large on some of Roche’s key drugs such as Avastin, Rituxan and Herceptin for the long term. The biosimilar versions of MabThera and Herceptin are expected to enter the market in the second half of 2017, which will be followed by that of Avastin. On the diagnostics front, Roche is facing a challenging business environment as the diabetes care business is facing pricing pressure in the U.S. along with reimbursement issues. Moreover, the volatile business environment in the diabetes care space is expected to continue. In addition, estimates have been moving down lately ahead of the company’s third-quarter 2016 earnings release.”
Separately, Citigroup Inc. reaffirmed a “buy” rating on shares of Roche Holding in a report on Wednesday, August 3rd.
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Shares of Roche Holding (NASDAQ:RHHBY) opened at 29.69 on Monday. Roche Holding has a 52-week low of $29.35 and a 52-week high of $35.13. The company has a 50-day moving average of $30.81 and a 200-day moving average of $31.58. The stock has a market capitalization of $202.41 billion and a price-to-earnings ratio of 22.11.
Hedge funds have recently added to or reduced their stakes in the company. Williams Jones & Associates LLC boosted its stake in Roche Holding by 27,884.8% in the second quarter. Williams Jones & Associates LLC now owns 1,119,391 shares of the company’s stock worth $36,884,000 after buying an additional 1,115,391 shares in the last quarter. Patten & Patten Inc. TN boosted its stake in Roche Holding by 7.3% in the third quarter. Patten & Patten Inc. TN now owns 218,063 shares of the company’s stock worth $6,753,000 after buying an additional 14,765 shares in the last quarter. CT Mason boosted its stake in Roche Holding by 3.9% in the third quarter. CT Mason now owns 101,328 shares of the company’s stock worth $3,138,000 after buying an additional 3,800 shares in the last quarter. Sky Investment Group LLC boosted its stake in Roche Holding by 1.4% in the second quarter. Sky Investment Group LLC now owns 77,136 shares of the company’s stock worth $2,542,000 after buying an additional 1,072 shares in the last quarter. Finally, Norman Fields Gottscho Capital Management LLC boosted its stake in Roche Holding by 447.9% in the third quarter. Norman Fields Gottscho Capital Management LLC now owns 54,650 shares of the company’s stock worth $1,693,000 after buying an additional 44,675 shares in the last quarter.
About Roche Holding
Roche Holding AG is a research-based healthcare company. The Company develops, manufactures and delivers medicines, and diagnostic instruments and tests. Its operating businesses are organized into two divisions: Pharmaceuticals and Diagnostics. Its Pharmaceuticals division consists of two business segments: Roche Pharmaceuticals and Chugai.
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