Jefferies Financial Group Comments on HUTCHMED (China) Limited’s FY2023 Earnings (NASDAQ:HCM)

HUTCHMED (China) Limited (NASDAQ:HCM – Get Rating) – Analysts at Jefferies Financial Group issued their FY2023 earnings per share (EPS) estimates for HUTCHMED in a report issued on Tuesday, February 28th. Jefferies Financial Group analyst K. Shi anticipates that the company will post earnings of ($0.58) per share for the year. The consensus estimate for HUTCHMED’s current full-year earnings is ($1.54) per share. Jefferies Financial Group also issued estimates for HUTCHMED’s FY2024 earnings at ($0.07) EPS, FY2025 earnings at $0.03 EPS and FY2026 earnings at $0.84 EPS.

Separately, Cantor Fitzgerald reissued an “overweight” rating on shares of HUTCHMED in a report on Wednesday.

HUTCHMED Price Performance

Shares of HUTCHMED stock opened at $17.42 on Friday. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.37 and a quick ratio of 3.03. HUTCHMED has a fifty-two week low of $7.39 and a fifty-two week high of $23.00. The business has a 50-day moving average price of $17.02 and a 200 day moving average price of $13.16.

Hedge Funds Weigh In On HUTCHMED

Institutional investors have recently made changes to their positions in the stock. DekaBank Deutsche Girozentrale grew its holdings in shares of HUTCHMED by 107.0% during the third quarter. DekaBank Deutsche Girozentrale now owns 90,912 shares of the company’s stock valued at $766,000 after purchasing an additional 46,995 shares during the last quarter. BNP Paribas Arbitrage SA grew its holdings in shares of HUTCHMED by 156.4% during the second quarter. BNP Paribas Arbitrage SA now owns 576,308 shares of the company’s stock valued at $7,285,000 after purchasing an additional 351,516 shares during the last quarter. M&G Investment Management Ltd. grew its holdings in HUTCHMED by 22.3% in the 2nd quarter. M&G Investment Management Ltd. now owns 6,977,228 shares of the company’s stock worth $90,704,000 after buying an additional 1,272,331 shares in the last quarter. Platinum Investment Management Ltd. grew its holdings in HUTCHMED by 17.5% in the 2nd quarter. Platinum Investment Management Ltd. now owns 224,634 shares of the company’s stock worth $2,839,000 after buying an additional 33,478 shares in the last quarter. Finally, AIA Group Ltd grew its holdings in HUTCHMED by 29.3% in the 3rd quarter. AIA Group Ltd now owns 461,065 shares of the company’s stock worth $4,085,000 after buying an additional 104,425 shares in the last quarter. 22.14% of the stock is owned by institutional investors.

HUTCHMED Company Profile

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HUTCHMED (China) Limited discovers, develops, and commercializes targeted therapeutics and immunotherapies for cancer and immunological diseases in HongKong and internationally. It operates in Oncology/Immunology and Other Ventures segments. The company develops Savolitinib, an inhibitor for non-small cell lung cancer (NSCLC), papillary and renal cell carcinoma, colorectal cancer (CRC), and gastric cancer (GC); and Fruquintinib, an inhibitor for CRC, breast cancer, GC, endometrial cancer (EMC), NSCLC, hepatocellular carcinoma, and gastrointestinal and solid tumors.