Hutchison China MediTech Ltd – (HCM) Receives Average Rating of “Strong Buy” from Brokerages

Shares of Hutchison China MediTech Ltd – (NASDAQ:HCM) have been assigned an average broker rating score of 1.00 (Strong Buy) from the three brokers that provide coverage for the company, Zacks Investment Research reports. Three equities research analysts have rated the stock with a strong buy recommendation.

Brokerages have set a 12-month consensus price objective of $41.00 for the company, according to Zacks. Zacks has also assigned Hutchison China MediTech an industry rank of 178 out of 265 based on the ratings given to related companies.

A number of brokerages have recently weighed in on HCM. BidaskClub downgraded Hutchison China MediTech from a “buy” rating to a “hold” rating in a report on Tuesday, January 30th. Canaccord Genuity boosted their price target on Hutchison China MediTech to $38.00 and gave the company a “buy” rating in a report on Monday, October 16th.

A number of large investors have recently added to or reduced their stakes in HCM. Comerica Bank acquired a new position in Hutchison China MediTech during the 3rd quarter worth $203,000. Perceptive Advisors LLC acquired a new position in Hutchison China MediTech during the 3rd quarter worth $273,000. Mckinley Capital Management LLC Delaware acquired a new position in Hutchison China MediTech during the 4th quarter worth $1,237,000. Wells Fargo & Company MN acquired a new position in Hutchison China MediTech during the 4th quarter worth $1,340,000. Finally, The Manufacturers Life Insurance Company boosted its position in Hutchison China MediTech by 7.7% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 103,799 shares of the company’s stock worth $2,420,000 after acquiring an additional 7,400 shares during the period. Institutional investors and hedge funds own 4.19% of the company’s stock.

Shares of Hutchison China MediTech (HCM) traded up $0.14 during midday trading on Tuesday, hitting $30.76. The stock had a trading volume of 119,000 shares, compared to its average volume of 112,200. Hutchison China MediTech has a 1-year low of $12.62 and a 1-year high of $42.25. The company has a quick ratio of 1.73, a current ratio of 1.84 and a debt-to-equity ratio of 0.09.

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About Hutchison China MediTech

Hutchison China MediTech Limited (Chi-Med) is a China-based, globally-focused healthcare group. The Company researches, develops, manufactures and sells pharmaceuticals and health-related consumer products. Its Innovation Platform focuses on discovering and developing therapeutics in oncology and autoimmune diseases for the global market.

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