Healthcare of Ontario Pension Plan Trust Fund Sells 235,200 Shares of On Holding AG $ONON

Healthcare of Ontario Pension Plan Trust Fund decreased its holdings in shares of On Holding AG (NYSE:ONON) by 78.4% in the 1st quarter, Holdings Channel reports. The firm owned 64,800 shares of the company’s stock after selling 235,200 shares during the period. Healthcare of Ontario Pension Plan Trust Fund’s holdings in ON were worth $2,204,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Cullen Frost Bankers Inc. lifted its position in ON by 639.7% during the fourth quarter. Cullen Frost Bankers Inc. now owns 540 shares of the company’s stock valued at $25,000 after purchasing an additional 467 shares during the last quarter. Caitlin John LLC purchased a new stake in shares of ON during the 4th quarter valued at $25,000. MidAtlantic Capital Management Inc. purchased a new stake in shares of ON during the 4th quarter valued at $27,000. Caitong International Asset Management Co. Ltd lifted its holdings in shares of ON by 555.1% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 701 shares of the company’s stock worth $33,000 after acquiring an additional 594 shares during the last quarter. Finally, Ascentis Independent Advisors bought a new stake in shares of ON during the 1st quarter worth $34,000. 36.39% of the stock is currently owned by institutional investors.

ON Trading Down 2.1%

Shares of ONON stock opened at $36.34 on Friday. The business has a 50-day moving average of $37.56 and a 200 day moving average of $39.30. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.98 and a quick ratio of 2.39. On Holding AG has a 1-year low of $31.41 and a 1-year high of $52.20. The stock has a market capitalization of $23.19 billion, a PE ratio of 39.07, a P/E/G ratio of 0.69 and a beta of 2.12.

ON (NYSE:ONON) last announced its quarterly earnings results on Tuesday, May 12th. The company reported $0.46 EPS for the quarter, topping analysts’ consensus estimates of $0.35 by $0.11. ON had a return on equity of 15.72% and a net margin of 7.92%.The business had revenue of $1.04 billion for the quarter, compared to analysts’ expectations of $1.03 billion. During the same period in the previous year, the firm earned $0.21 EPS. The business’s quarterly revenue was up 14.5% on a year-over-year basis. As a group, sell-side analysts anticipate that On Holding AG will post 1.5 earnings per share for the current year.

Analysts Set New Price Targets

ONON has been the topic of a number of research analyst reports. Evercore set a $42.00 target price on ON in a research note on Tuesday, May 12th. Raymond James Financial raised ON from an “outperform” rating to a “strong-buy” rating and set a $52.00 price target for the company in a research note on Thursday, April 23rd. Weiss Ratings upgraded ON from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Tuesday, May 12th. Telsey Advisory Group decreased their price objective on ON from $60.00 to $51.00 and set an “outperform” rating on the stock in a report on Wednesday, May 13th. Finally, Wall Street Zen downgraded ON from a “buy” rating to a “hold” rating in a research report on Saturday, July 18th. Three equities research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $53.63.

Insider Buying and Selling

In other news, CEO Caspar Felix Coppetti purchased 60,000 shares of the stock in a transaction that occurred on Thursday, May 14th. The stock was bought at an average cost of $36.64 per share, for a total transaction of $2,198,400.00. Following the acquisition, the chief executive officer directly owned 2,375,855 shares of the company’s stock, valued at $87,051,327.20. This represents a 2.59% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO David Michael Allemann purchased 60,000 shares of the company’s stock in a transaction on Thursday, May 14th. The shares were purchased at an average cost of $36.63 per share, with a total value of $2,197,800.00. Following the transaction, the chief executive officer directly owned 2,841,108 shares in the company, valued at $104,069,786.04. This trade represents a 2.16% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders have bought a total of 180,000 shares of company stock valued at $6,594,000 over the last three months. 68.57% of the stock is owned by company insiders.

About ON

On Holding AG, commonly known as On, is a Swiss performance footwear and apparel company headquartered in Zurich. Founded in 2010, the company designs, develops and sells running shoes, performance apparel and accessories for road, trail and everyday use. On’s product philosophy centers on engineered cushioning and responsiveness intended to serve both serious athletes and lifestyle consumers.

On is best known for its proprietary midsole technology and distinctive sole architecture, marketed under names such as the Cloud family of shoes and related performance lines.