Pictet Asset Management Holding SA Boosts Stock Position in New Oriental Education & Technology Group Inc. (NYSE:EDU)

Pictet Asset Management Holding SA lifted its position in New Oriental Education & Technology Group Inc. (NYSE:EDU) by 4.3% in the 4th quarter, HoldingsChannel reports. The firm owned 155,284 shares of the company’s stock after purchasing an additional 6,342 shares during the quarter. Pictet Asset Management Holding SA’s holdings in New Oriental Education & Technology Group were worth $9,966,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. JPMorgan Chase & Co. raised its position in New Oriental Education & Technology Group by 175.4% during the 4th quarter. JPMorgan Chase & Co. now owns 2,276,762 shares of the company’s stock worth $146,123,000 after buying an additional 1,449,979 shares during the last quarter. Norges Bank purchased a new position in shares of New Oriental Education & Technology Group during the fourth quarter worth $92,345,000. Panview Capital Ltd acquired a new position in New Oriental Education & Technology Group during the fourth quarter valued at $27,358,000. Public Employees Retirement System of Ohio purchased a new stake in New Oriental Education & Technology Group in the third quarter valued at $27,425,000. Finally, Carrhae Capital LLP grew its position in New Oriental Education & Technology Group by 52.4% during the 4th quarter. Carrhae Capital LLP now owns 1,042,689 shares of the company’s stock worth $66,920,000 after purchasing an additional 358,502 shares during the period.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. China Renaissance downgraded New Oriental Education & Technology Group from a “buy” rating to a “hold” rating in a research note on Monday, March 24th. JPMorgan Chase & Co. cut shares of New Oriental Education & Technology Group from an “overweight” rating to a “neutral” rating and dropped their price objective for the stock from $85.00 to $50.00 in a research note on Wednesday, January 22nd. Morgan Stanley cut shares of New Oriental Education & Technology Group from an “overweight” rating to an “equal weight” rating and decreased their target price for the company from $83.00 to $52.00 in a research note on Wednesday, January 22nd. StockNews.com lowered shares of New Oriental Education & Technology Group from a “buy” rating to a “hold” rating in a research report on Thursday, March 13th. Finally, Macquarie downgraded shares of New Oriental Education & Technology Group from an “outperform” rating to an “underperform” rating and decreased their price objective for the stock from $79.00 to $44.00 in a research report on Wednesday, January 22nd. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $61.20.

New Oriental Education & Technology Group Stock Performance

Shares of NYSE EDU opened at $48.61 on Thursday. The firm has a fifty day moving average of $49.38 and a 200 day moving average of $58.48. The firm has a market cap of $8.25 billion, a PE ratio of 20.69 and a beta of 0.47. New Oriental Education & Technology Group Inc. has a one year low of $44.46 and a one year high of $91.04.

About New Oriental Education & Technology Group

New Oriental Education & Technology Group, Inc is a holding company, which engages in the provision of private educational services. It operates through the following segments: Educational Services and Test Preparation Courses, Private Label Products and Livestreaming E-Commerce, Overseas Study Consulting Services, and Educational Materials and Distribution.