GABELLI & Co INVESTMENT ADVISERS INC. Purchases Shares of 356,188 Patheon NV (PTHN)
GABELLI & Co INVESTMENT ADVISERS INC. purchased a new stake in Patheon NV (NASDAQ:PTHN) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 356,188 shares of the company’s stock, valued at approximately $12,424,000. Patheon NV accounts for approximately 1.3% of GABELLI & Co INVESTMENT ADVISERS INC.’s investment portfolio, making the stock its 20th largest position.
Several other hedge funds also recently made changes to their positions in the company. Russell Investments Group Ltd. bought a new stake in shares of Patheon NV during the second quarter valued at about $119,000. Quantbot Technologies LP bought a new stake in shares of Patheon NV during the first quarter valued at about $185,000. AQR Capital Management LLC bought a new stake in shares of Patheon NV during the fourth quarter valued at about $220,000. Forward Management LLC increased its stake in shares of Patheon NV by 67.4% in the first quarter. Forward Management LLC now owns 8,714 shares of the company’s stock valued at $230,000 after buying an additional 3,509 shares during the period. Finally, Legal & General Group Plc increased its stake in shares of Patheon NV by 1,626.7% in the first quarter. Legal & General Group Plc now owns 10,170 shares of the company’s stock valued at $268,000 after buying an additional 9,581 shares during the period.
Shares of Patheon NV (NASDAQ PTHN) traded down 0.043% during mid-day trading on Wednesday, hitting $34.965. The company had a trading volume of 6,752 shares. The firm’s 50 day moving average is $34.91 and its 200-day moving average is $31.37. The firm has a market cap of $5.07 billion and a PE ratio of 44.827. Patheon NV has a 12-month low of $23.72 and a 12-month high of $35.10.
Patheon NV (NASDAQ:PTHN) last announced its earnings results on Thursday, June 8th. The company reported $0.20 EPS for the quarter, topping the consensus estimate of $0.19 by $0.01. The business had revenue of $483.40 million during the quarter, compared to analyst estimates of $466.08 million. Patheon NV’s quarterly revenue was up 3.2% on a year-over-year basis. On average, equities analysts expect that Patheon NV will post $1.15 EPS for the current year.
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Several brokerages recently issued reports on PTHN. Raymond James Financial, Inc. reissued a “market perform” rating and issued a $35.00 price target on shares of Patheon NV in a report on Thursday, June 8th. Leerink Swann downgraded Patheon NV from an “outperform” rating to a “market perform” rating and raised their price target for the stock from $31.00 to $35.00 in a report on Friday, June 9th. Evercore ISI downgraded Patheon NV to an “outperform” rating and set a $35.00 price target on the stock. in a report on Monday, May 15th. Zacks Investment Research downgraded Patheon NV from a “buy” rating to a “hold” rating in a report on Thursday, June 15th. Finally, Jefferies Group LLC reissued a “hold” rating and issued a $35.00 price target on shares of Patheon NV in a report on Friday, July 21st. Eight investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Patheon NV has a consensus rating of “Hold” and a consensus target price of $33.86.
Patheon NV Company Profile
Patheon N.V. is a provider of outsourced pharmaceutical development and manufacturing services. The Company’s segments include Drug Product Services (DPS), Pharmaceutical Development Services (PDS) and Drug Substance Services (DSS). The DPS segment is engaged in manufacturing and packaging for approved prescription, over-the-counter (OTC) and nutritional products.
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