Parametric Portfolio Associates LLC reduced its stake in shares of Patheon NV (NYSE:PTHN) by 18.4% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 21,681 shares of the company’s stock after selling 4,890 shares during the period. Parametric Portfolio Associates LLC’s holdings in Patheon were worth $756,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Alpine Associates Management Inc. purchased a new stake in shares of Patheon during the 2nd quarter worth about $35,624,000. Citigroup Inc. boosted its stake in shares of Patheon by 4,608.0% during the 2nd quarter. Citigroup Inc. now owns 737,273 shares of the company’s stock worth $25,716,000 after acquiring an additional 721,613 shares in the last quarter. ARP Americas LLC purchased a new stake in shares of Patheon during the 2nd quarter worth about $14,992,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new stake in shares of Patheon during the 2nd quarter worth about $12,457,000. Finally, GABELLI & Co INVESTMENT ADVISERS INC. purchased a new stake in shares of Patheon during the 2nd quarter worth about $12,424,000. 0.72% of the stock is currently owned by institutional investors.
Patheon NV (PTHN) remained flat at $$34.98 on Wednesday. The company had a trading volume of 229,700 shares, compared to its average volume of 754,718. The company has a debt-to-equity ratio of -7.33, a quick ratio of 0.91 and a current ratio of 1.65. Patheon NV has a 1-year low of $23.72 and a 1-year high of $35.13. The firm has a market capitalization of $5,076.86, a PE ratio of 45.43 and a beta of 2.69.
Separately, BidaskClub lowered shares of Patheon from a “sell” rating to a “strong sell” rating in a research note on Saturday, September 2nd. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and one has assigned a buy rating to the stock. Patheon presently has a consensus rating of “Hold” and an average price target of $33.60.
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Patheon N.V. is a provider of outsourced pharmaceutical development and manufacturing services. The Company’s segments include Drug Product Services (DPS), Pharmaceutical Development Services (PDS) and Drug Substance Services (DSS). The DPS segment is engaged in manufacturing and packaging for approved prescription, over-the-counter (OTC) and nutritional products.
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