Goldman Sachs Group Inc. Raises Position in Patheon NV (NASDAQ:PTHN)

Goldman Sachs Group Inc. raised its stake in shares of Patheon NV (NASDAQ:PTHN) by 48.4% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 100,293 shares of the company’s stock after buying an additional 32,718 shares during the period. Goldman Sachs Group Inc. owned 0.07% of Patheon NV worth $2,642,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of PTHN. Zweig DiMenna Associates LLC acquired a new position in shares of Patheon NV during the first quarter valued at approximately $6,585,000. Ameriprise Financial Inc. raised its stake in shares of Patheon NV by 47.6% in the first quarter. Ameriprise Financial Inc. now owns 1,803,720 shares of the company’s stock worth $47,511,000 after buying an additional 581,914 shares during the last quarter. Three Peaks Capital Management LLC purchased a new stake in shares of Patheon NV during the first quarter worth $2,641,000. UBS Asset Management Americas Inc. purchased a new stake in shares of Patheon NV during the first quarter worth $302,000. Finally, Forward Management LLC raised its stake in shares of Patheon NV by 67.4% in the first quarter. Forward Management LLC now owns 8,714 shares of the company’s stock worth $230,000 after buying an additional 3,509 shares during the last quarter.

Patheon NV (NASDAQ PTHN) opened at 34.97 on Friday. The firm has a market cap of $5.08 billion and a price-to-earnings ratio of 44.83. The stock has a 50 day moving average of $34.92 and a 200-day moving average of $31.47. Patheon NV has a 52-week low of $23.72 and a 52-week high of $35.10.

Patheon NV (NASDAQ:PTHN) last posted its quarterly earnings results on Thursday, June 8th. The company reported $0.20 earnings per share for the quarter, beating analysts’ consensus estimates of $0.19 by $0.01. The business had revenue of $483.40 million during the quarter, compared to the consensus estimate of $466.08 million. The business’s revenue was up 3.2% on a year-over-year basis. On average, analysts expect that Patheon NV will post $1.15 EPS for the current year.

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Several brokerages have issued reports on PTHN. Jefferies Group LLC reissued a “hold” rating and set a $35.00 price objective on shares of Patheon NV in a research report on Friday, July 21st. Zacks Investment Research downgraded shares of Patheon NV from a “buy” rating to a “hold” rating in a report on Thursday, June 15th. Leerink Swann downgraded shares of Patheon NV from an “outperform” rating to a “market perform” rating and boosted their price objective for the stock from $31.00 to $35.00 in a report on Friday, June 9th. Raymond James Financial, Inc. downgraded shares of Patheon NV from an “outperform” rating to a “mkt perform” rating in a report on Friday, June 9th. Finally, J P Morgan Chase & Co downgraded shares of Patheon NV from an “overweight” rating to a “neutral” rating in a report on Thursday, June 8th. Seven analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Patheon NV presently has a consensus rating of “Hold” and an average target price of $34.50.

Patheon NV Company Profile

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.

Institutional Ownership by Quarter for Patheon NV (NASDAQ:PTHN)

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