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 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. reiterated a “buy” rating on shares of Roche Holding in a report on Wednesday, August 3rd.
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Roche Holding (NASDAQ:RHHBY) opened at 29.69 on Monday. The company has a market cap of $202.41 billion and a PE ratio of 22.11. 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.
Hedge funds have recently bought and sold shares of the company. Genesee Valley Trust Co. raised its stake in Roche Holding by 1.6% in the third quarter. Genesee Valley Trust Co. now owns 16,891 shares of the company’s stock valued at $525,000 after buying an additional 271 shares during the last quarter. Eqis Capital Management Inc. raised its stake in Roche Holding by 4.1% in the third quarter. Eqis Capital Management Inc. now owns 11,650 shares of the company’s stock valued at $361,000 after buying an additional 464 shares during the last quarter. Wunderlich Capital Managemnt raised its stake in Roche Holding by 2.5% in the second quarter. Wunderlich Capital Managemnt now owns 40,510 shares of the company’s stock valued at $1,335,000 after buying an additional 977 shares during the last quarter. Sky Investment Group LLC raised 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 valued at $2,542,000 after buying an additional 1,072 shares during the last quarter. Finally, Sterling Capital Management LLC raised its stake in Roche Holding by 19.1% in the second quarter. Sterling Capital Management LLC now owns 19,085 shares of the company’s stock valued at $627,000 after buying an additional 3,056 shares during the last quarter.
Roche Holding Company Profile
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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