New Oriental Education & Technology Group, Inc. (EDU) Holdings Increased by Pictet Asset Management Ltd.

Pictet Asset Management Ltd. grew its holdings in shares of New Oriental Education & Technology Group, Inc. (NYSE:EDU) by 97.6% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 416,883 shares of the company’s stock after acquiring an additional 205,896 shares during the period. Pictet Asset Management Ltd. owned 0.26% of New Oriental Education & Technology Group worth $36,794,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of EDU. PNC Financial Services Group Inc. grew its holdings in New Oriental Education & Technology Group by 2.4% during the 2nd quarter. PNC Financial Services Group Inc. now owns 1,513 shares of the company’s stock worth $107,000 after acquiring an additional 35 shares during the period. Nippon Life Insurance Co. acquired a new stake in New Oriental Education & Technology Group during the 2nd quarter worth about $111,000. Advisor Group Inc. grew its holdings in New Oriental Education & Technology Group by 182.5% during the 2nd quarter. Advisor Group Inc. now owns 1,743 shares of the company’s stock worth $123,000 after acquiring an additional 1,126 shares during the period. Stevens Capital Management LP acquired a new stake in New Oriental Education & Technology Group during the 2nd quarter worth about $207,000. Finally, Wetherby Asset Management Inc. acquired a new stake in New Oriental Education & Technology Group during the 2nd quarter worth about $227,000. Hedge funds and other institutional investors own 75.58% of the company’s stock.

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New Oriental Education & Technology Group (NYSE:EDU) last issued its quarterly earnings data on Tuesday, October 24th. The company reported $1.00 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.04 by ($0.04). The company had revenue of $661.20 million for the quarter, compared to the consensus estimate of $643.90 million. New Oriental Education & Technology Group had a net margin of 15.15% and a return on equity of 17.32%. The firm’s revenue for the quarter was up 23.8% on a year-over-year basis. During the same quarter last year, the company earned $0.90 EPS.

Several analysts have recently commented on the company. CLSA downgraded New Oriental Education & Technology Group from an “outperform” rating to an “underperform” rating in a research note on Tuesday, October 24th. Vetr downgraded New Oriental Education & Technology Group from a “buy” rating to a “hold” rating and set a $94.84 target price for the company. in a research note on Wednesday, October 4th. J P Morgan Chase & Co downgraded New Oriental Education & Technology Group from a “neutral” rating to an “underweight” rating and set a $82.00 target price for the company. in a research note on Thursday, September 14th. Benchmark Co. raised their target price on New Oriental Education & Technology Group from $94.00 to $100.00 and gave the company a “buy” rating in a research note on Friday, October 6th. Finally, Jefferies Group LLC restated a “buy” rating and issued a $109.00 target price on shares of New Oriental Education & Technology Group in a research note on Thursday, October 26th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and nine have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $89.76.

New Oriental Education & Technology Group Company Profile

New Oriental Education & Technology Group Inc is a provider of private educational services in the People’s Republic of China (the PRC). The Company provides educational services under its New Oriental brand. The Company operates through seven segments, which include language training and test preparation, primary and secondary school education, online education, content development and distribution, pre-school education, overseas study consulting services and study tour.

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Institutional Ownership by Quarter for New Oriental Education & Technology Group (NYSE:EDU)

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