StockNews.com Begins Coverage on Global Cord Blood (NYSE:CO)

Research analysts at StockNews.com initiated coverage on shares of Global Cord Blood (NYSE:CO) in a note issued to investors on Wednesday. The brokerage set a “strong-buy” rating on the medical research company’s stock.

Global Cord Blood Price Performance

NYSE:CO opened at $1.35 on Wednesday. The business has a 50 day moving average of $1.52 and a 200 day moving average of $1.35. The company has a market capitalization of $164.09 million, a price-to-earnings ratio of 2.11 and a beta of 0.16. Global Cord Blood has a 1-year low of $2.03 and a 1-year high of $5.50.

Institutional Trading of Global Cord Blood

A number of hedge funds have recently bought and sold shares of the company. Northern Trust Corp purchased a new position in Global Cord Blood in the 2nd quarter worth approximately $96,000. Natixis Advisors L.P. increased its stake in Global Cord Blood by 5.6% in the 2nd quarter. Natixis Advisors L.P. now owns 199,880 shares of the medical research company’s stock worth $592,000 after purchasing an additional 10,550 shares during the period. Finally, Moneta Group Investment Advisors LLC increased its stake in Global Cord Blood by 99,844.5% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 26,093,520 shares of the medical research company’s stock worth $77,957,000 after purchasing an additional 26,067,412 shares during the period.

Global Cord Blood Company Profile

Global Cord Blood operates as a holding company, which engages in the provision of cord blood banking services. It provides cord blood processing and storage service. The company also offers cord blood collection, laboratory testing, hematopoietic stem cell processing and stem cell storage services. The firm preserves cord blood units donated by the public and provides matching services on such donated units and deliver matching units to patients in need of transplants.