Patten & Patten Inc. TN Lowers Position in Roche Holding AG (OTCMKTS:RHHBY)

Patten & Patten Inc. TN lowered its holdings in Roche Holding AG (OTCMKTS:RHHBY) by 10.8% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 14,399 shares of the company’s stock after selling 1,752 shares during the period. Patten & Patten Inc. TN’s holdings in Roche were worth $522,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Pacer Advisors Inc. increased its position in shares of Roche by 1,937.5% during the 4th quarter. Pacer Advisors Inc. now owns 1,099,659 shares of the company’s stock valued at $39,841,000 after purchasing an additional 1,045,687 shares during the last quarter. Saratoga Research & Investment Management increased its position in shares of Roche by 19.4% during the 3rd quarter. Saratoga Research & Investment Management now owns 2,268,479 shares of the company’s stock valued at $76,969,000 after purchasing an additional 368,444 shares during the last quarter. Comerica Bank bought a new position in Roche during the 2nd quarter worth approximately $4,198,000. Tower Bridge Advisors bought a new position in Roche during the 3rd quarter worth approximately $2,811,000. Finally, Ramirez Asset Management Inc. bought a new position in Roche during the 3rd quarter worth approximately $2,575,000.

Roche Stock Performance

OTCMKTS RHHBY opened at $31.38 on Wednesday. Roche Holding AG has a fifty-two week low of $31.13 and a fifty-two week high of $40.48. The company has a current ratio of 1.35, a quick ratio of 1.04 and a debt-to-equity ratio of 0.75. The stock has a 50 day simple moving average of $33.01 and a two-hundred day simple moving average of $34.09.

Analyst Ratings Changes

RHHBY has been the topic of several recent research reports. Argus restated a “hold” rating on shares of Roche in a research report on Monday, March 4th. Morgan Stanley lowered Roche from an “equal weight” rating to an “underweight” rating in a research report on Tuesday, January 16th. One research analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $40.00.

About Roche

Roche Holding AG engages in the pharmaceuticals and diagnostics businesses in Europe, North America, Latin America, Asia, Africa, Australia, and Oceania. The company offers pharmaceutical products in the therapeutic areas of anemia, blood and solid tumors, dermatology, hemophilia, inflammatory and autoimmune, neurological disorders, ophthalmology, respiratory disorders, and transplantation.