iShares U.S. Pharmaceuticals ETF (NYSEARCA:IHE) Sets New 12-Month High – Still a Buy?

iShares U.S. Pharmaceuticals ETF (NYSEARCA:IHE)’s share price hit a new 52-week high during mid-day trading on Monday . The company traded as high as $86.32 and last traded at $86.1480, with a volume of 4881 shares traded. The stock had previously closed at $86.15.

iShares U.S. Pharmaceuticals ETF Price Performance

The company has a market cap of $694.31 million, a price-to-earnings ratio of 17.75 and a beta of 0.54. The firm has a fifty day simple moving average of $81.06 and a 200 day simple moving average of $73.48.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of IHE. BNP Paribas Financial Markets bought a new stake in iShares U.S. Pharmaceuticals ETF during the second quarter valued at about $13,108,000. JPMorgan Chase & Co. boosted its stake in iShares U.S. Pharmaceuticals ETF by 1.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 112,379 shares of the company’s stock valued at $8,154,000 after purchasing an additional 1,443 shares during the period. Goldman Sachs Group Inc. grew its holdings in iShares U.S. Pharmaceuticals ETF by 4.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 104,815 shares of the company’s stock valued at $7,396,000 after buying an additional 4,815 shares during the last quarter. Royal Bank of Canada increased its position in iShares U.S. Pharmaceuticals ETF by 0.3% in the 1st quarter. Royal Bank of Canada now owns 101,984 shares of the company’s stock worth $7,197,000 after buying an additional 325 shares during the period. Finally, Raymond James Financial Inc. lifted its holdings in shares of iShares U.S. Pharmaceuticals ETF by 3.2% during the second quarter. Raymond James Financial Inc. now owns 63,564 shares of the company’s stock worth $4,166,000 after buying an additional 1,955 shares during the last quarter.

About iShares U.S. Pharmaceuticals ETF

iShares U.S. Pharmaceuticals ETF, formerly iShares Dow Jones U.S. Pharmaceuticals Index Fund (the Fund), is an exchange traded fund. The Fund seeks investment results that correspond generally to the price and yield performance of the Dow Jones U.S. Select Pharmaceuticals Index (the Index). The Index measures the performance of the pharmaceuticals sector of the United States equity market, and includes pharmaceutical companies such as manufacturers of prescription or over-the-counter drugs or vaccines, but excludes producers of vitamins.