Zacks Investment Research downgraded shares of Roche Holding Ltd. (NASDAQ:RHHBY) from a hold rating to a strong sell rating in a research note issued to investors on Monday morning.
According to Zacks, “Roche continues to face competition from generics for some of its key drugs. Entry of generics and pricing pressure for some of its drugs like Pegasys, Xeloda and Valcyte would hurt the top line in the coming quarters. In addition, possibility of stiff competition from biosimilars looms large on some of Roche’s key drugs such as Avastin, Rituxan and Herceptin for the long term. The biosimilar versions of MabThera and Herceptin are expected to enter the market in the second half of 2017, which will be followed by that of Avastin. On the diagnostics front, Roche is facing a challenging business environment as the diabetes care business is facing pricing pressure in the U.S. along with reimbursement issues. Moreover, the volatile business environment in the diabetes care space is expected to continue. In addition, estimates have been moving down lately ahead of the company’s third-quarter 2016 earnings release.”
Separately, Citigroup Inc. reissued a buy rating on shares of Roche Holding in a research report on Wednesday, August 3rd.
Roche Holding (NASDAQ:RHHBY) traded up 0.31% during mid-day trading on Monday, hitting $29.44. The stock had a trading volume of 53,342 shares. The stock has a market cap of $200.70 billion and a P/E ratio of 21.92. Roche Holding has a one year low of $29.33 and a one year high of $35.13. The company has a 50 day moving average price of $30.77 and a 200 day moving average price of $31.59.
Institutional investors have recently bought and sold shares of the stock. Wunderlich Capital Managemnt boosted its position in Roche Holding by 2.5% in the second quarter. Wunderlich Capital Managemnt now owns 40,510 shares of the company’s stock worth $1,335,000 after buying an additional 977 shares during the last quarter. Sterling Capital Management LLC boosted its position in Roche Holding by 19.1% in the second quarter. Sterling Capital Management LLC now owns 19,085 shares of the company’s stock worth $627,000 after buying an additional 3,056 shares during the last quarter. Sky Investment Group LLC boosted its position in Roche Holding by 1.4% in the second quarter. Sky Investment Group LLC now owns 77,136 shares of the company’s stock worth $2,542,000 after buying an additional 1,072 shares during the last quarter. Williams Jones & Associates LLC boosted its position in Roche Holding by 27,884.8% in the second quarter. Williams Jones & Associates LLC now owns 1,119,391 shares of the company’s stock worth $36,884,000 after buying an additional 1,115,391 shares during the last quarter. Finally, CT Mason boosted its position in Roche Holding by 3.9% in the third quarter. CT Mason now owns 101,328 shares of the company’s stock worth $3,138,000 after buying an additional 3,800 shares during the last quarter.
About Roche Holding
Roche Holding AG is a research-based healthcare company. The Company develops, manufactures and delivers medicines, and diagnostic instruments and tests. Its operating businesses are organized into two divisions: Pharmaceuticals and Diagnostics. Its Pharmaceuticals division consists of two business segments: Roche Pharmaceuticals and Chugai.