The Manufacturers Life Insurance Company Lowers Stake in BeOne Medicines Ltd. – Sponsored ADR $ONC

The Manufacturers Life Insurance Company cut its holdings in BeOne Medicines Ltd. – Sponsored ADR (NASDAQ:ONC) by 40.0% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 5,308 shares of the company’s stock after selling 3,538 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in BeOne Medicines were worth $1,576,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Mariner LLC boosted its stake in shares of BeOne Medicines by 3.8% during the fourth quarter. Mariner LLC now owns 883 shares of the company’s stock worth $269,000 after buying an additional 32 shares during the period. Signaturefd LLC boosted its holdings in BeOne Medicines by 10.7% in the 4th quarter. Signaturefd LLC now owns 340 shares of the company’s stock valued at $103,000 after purchasing an additional 33 shares in the last quarter. CWM LLC increased its position in BeOne Medicines by 32.8% during the 4th quarter. CWM LLC now owns 158 shares of the company’s stock worth $48,000 after purchasing an additional 39 shares during the period. Farther Finance Advisors LLC increased its position in BeOne Medicines by 21.8% during the 4th quarter. Farther Finance Advisors LLC now owns 218 shares of the company’s stock worth $66,000 after purchasing an additional 39 shares during the period. Finally, Benjamin Edwards Inc. raised its stake in shares of BeOne Medicines by 8.0% during the 4th quarter. Benjamin Edwards Inc. now owns 690 shares of the company’s stock worth $210,000 after buying an additional 51 shares in the last quarter. 48.55% of the stock is owned by hedge funds and other institutional investors.

BeOne Medicines Trading Up 3.1%

Shares of ONC opened at $359.00 on Tuesday. The stock has a market cap of $39.39 billion, a PE ratio of 63.20 and a beta of 0.49. BeOne Medicines Ltd. – Sponsored ADR has a 12 month low of $253.95 and a 12 month high of $385.22. The stock’s 50-day moving average is $298.11 and its two-hundred day moving average is $308.86. The company has a debt-to-equity ratio of 0.17, a current ratio of 3.40 and a quick ratio of 3.06.

BeOne Medicines (NASDAQ:ONC) last issued its quarterly earnings data on Wednesday, August 5th. The company reported $2.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.40 by $0.65. The company had revenue of $1.71 billion during the quarter, compared to the consensus estimate of $1.66 billion. BeOne Medicines had a net margin of 10.70% and a return on equity of 14.23%. Equities analysts forecast that BeOne Medicines Ltd. – Sponsored ADR will post 7.3 earnings per share for the current fiscal year.

Insider Transactions at BeOne Medicines

In other news, CEO John Oyler sold 145,861 shares of BeOne Medicines stock in a transaction dated Tuesday, July 14th. The stock was sold at an average price of $305.95, for a total transaction of $44,626,172.95. Following the sale, the chief executive officer directly owned 8,122 shares of the company’s stock, valued at approximately $2,484,925.90. The trade was a 94.73% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Xiaobin Wu sold 1,484 shares of the business’s stock in a transaction dated Monday, June 8th. The stock was sold at an average price of $269.37, for a total value of $399,745.08. Following the completion of the transaction, the chief operating officer owned 40 shares in the company, valued at approximately $10,774.80. This trade represents a 97.38% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last three months, insiders sold 345,561 shares of company stock valued at $105,625,947. 6.19% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of research firms recently weighed in on ONC. Zacks Research downgraded BeOne Medicines from a “strong-buy” rating to a “hold” rating in a research note on Friday, July 3rd. Barclays upped their price target on shares of BeOne Medicines from $403.00 to $407.00 and gave the company an “overweight” rating in a report on Thursday. TD Cowen upped their price objective on BeOne Medicines from $424.00 to $454.00 and gave the company a “buy” rating in a research report on Thursday, August 6th. Wall Street Zen raised shares of BeOne Medicines from a “buy” rating to a “strong-buy” rating in a research note on Saturday, July 18th. Finally, Royal Bank Of Canada dropped their target price on BeOne Medicines from $451.00 to $450.00 and set an “outperform” rating for the company in a research note on Thursday, August 6th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $402.14.

BeOne Medicines Profile

BeOne Medicines Ltd. is a global oncology company domiciled in Switzerland that is discovering and developing innovative treatments that are more affordable and accessible to cancer patients worldwide. The firm portfolio spanning hematology and solid tumors, BeOne is expediting development of its diverse pipeline of novel therapeutics through its internal capabilities and collaborations. The company was founded by Xiao Dong Wang and John V. Oyler on October 28, 2010 and is headquartered in Basel, Switzerland.