Mirae Asset Global Investments Co. Ltd. cut its position in China Biologic Products Inc (NASDAQ:CBPO) by 18.8% during the first quarter, Holdings Channel reports. The fund owned 308,282 shares of the biopharmaceutical company’s stock after selling 71,494 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in China Biologic Products were worth $30,868,000 at the end of the most recent quarter.
A number of other institutional investors also recently added to or reduced their stakes in CBPO. Hudson Bay Capital Management LP acquired a new stake in shares of China Biologic Products during the fourth quarter worth $3,086,000. Granite Point Capital Management L.P. acquired a new stake in shares of China Biologic Products during the third quarter worth $1,680,000. Greenwoods Asset Management Ltd acquired a new stake in shares of China Biologic Products during the third quarter worth $2,054,000. UBS Asset Management Americas Inc. boosted its stake in shares of China Biologic Products by 1.8% in the fourth quarter. UBS Asset Management Americas Inc. now owns 181,287 shares of the biopharmaceutical company’s stock worth $19,492,000 after buying an additional 3,217 shares during the period. Finally, Jabre Capital Partners S.A. acquired a new stake in shares of China Biologic Products during the third quarter worth $1,245,000. 69.86% of the stock is owned by institutional investors.
Shares of China Biologic Products Inc (NASDAQ:CBPO) traded up 1.78% during midday trading on Friday, reaching $111.00. 94,937 shares of the company’s stock were exchanged. The company has a market cap of $3.02 billion, a price-to-earnings ratio of 28.75 and a beta of 1.78. China Biologic Products Inc has a 12-month low of $96.99 and a 12-month high of $137.38. The stock’s 50 day moving average price is $111.60 and its 200 day moving average price is $110.84.
China Biologic Products (NASDAQ:CBPO) last posted its quarterly earnings data on Thursday, February 23rd. The biopharmaceutical company reported $0.95 EPS for the quarter, topping the consensus estimate of $0.84 by $0.11. The firm had revenue of $77.60 million during the quarter, compared to analyst estimates of $76.61 million. China Biologic Products had a net margin of 30.63% and a return on equity of 19.61%. China Biologic Products’s revenue was up 13.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.74 EPS. Equities analysts anticipate that China Biologic Products Inc will post $5.09 earnings per share for the current fiscal year.
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A number of equities research analysts have weighed in on CBPO shares. Zacks Investment Research upgraded shares of China Biologic Products from a “sell” rating to a “buy” rating and set a $121.00 price objective on the stock in a report on Tuesday, February 28th. Jefferies Group LLC set a $128.00 price objective on shares of China Biologic Products and gave the stock a “buy” rating in a report on Monday, February 27th. Finally, Morgan Stanley restated an “overweight” rating and issued a $135.00 price objective on shares of China Biologic Products in a report on Friday, March 3rd.
In related news, insider Zhijing Cbpo Liu sold 7,500 shares of the business’s stock in a transaction that occurred on Tuesday, May 9th. The shares were sold at an average price of $116.49, for a total transaction of $873,675.00. Following the completion of the transaction, the insider now owns 10,969 shares in the company, valued at approximately $1,277,778.81. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO David Gao sold 116,653 shares of the business’s stock in a transaction that occurred on Wednesday, March 1st. The stock was sold at an average price of $100.63, for a total transaction of $11,738,791.39. Following the transaction, the chief executive officer now owns 449,396 shares of the company’s stock, valued at approximately $45,222,719.48. The disclosure for this sale can be found here. In the last quarter, insiders have sold 144,153 shares of company stock valued at $14,628,066. 2.68% of the stock is currently owned by company insiders.
About China Biologic Products
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 through the manufacture and sales of human plasma products segment.
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