Roche (OTCMKTS:RHHBY) Sets New 12-Month High – What’s Next?

Roche Holding AG (OTCMKTS:RHHBY)’s stock price reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $43.96 and last traded at $43.06, with a volume of 4303336 shares traded. The stock had previously closed at $43.89.

Wall Street Analysts Forecast Growth

RHHBY has been the topic of several analyst reports. Morgan Stanley began coverage on Roche in a research note on Wednesday, February 12th. They issued an “equal weight” rating on the stock. UBS Group upgraded Roche from a “hold” rating to a “strong-buy” rating in a research note on Thursday, February 13th. Finally, Sanford C. Bernstein upgraded Roche to a “strong-buy” rating in a research report on Thursday, January 30th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating, one has given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy”.

Roche Price Performance

The stock’s 50 day simple moving average is $39.01 and its 200 day simple moving average is $38.46. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.97 and a current ratio of 1.26.

Hedge Funds Weigh In On Roche

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Canopy Partners LLC raised its holdings in shares of Roche by 4.6% during the 3rd quarter. Canopy Partners LLC now owns 7,772 shares of the company’s stock valued at $310,000 after buying an additional 344 shares in the last quarter. Brooklyn Investment Group bought a new position in Roche during the third quarter valued at approximately $40,000. IHT Wealth Management LLC purchased a new stake in shares of Roche during the 3rd quarter valued at about $236,000. Bard Financial Services Inc. increased its holdings in Roche by 156.8% in the 3rd quarter. Bard Financial Services Inc. now owns 80,500 shares of the company’s stock worth $3,216,000 after acquiring an additional 49,150 shares in the last quarter. Finally, Confluence Investment Management LLC lifted its holdings in Roche by 26.3% in the 4th quarter. Confluence Investment Management LLC now owns 13,981 shares of the company’s stock worth $488,000 after purchasing an additional 2,910 shares in the last quarter.

About Roche

Roche Holding AG engages in the pharmaceuticals and diagnostics businesses in Europe, North America, Latin America, Asia, Africa, Australia, and Oceania. The company offers pharmaceutical products in the therapeutic areas of anemia, blood and solid tumors, dermatology, hemophilia, inflammatory and autoimmune, neurological disorders, ophthalmology, respiratory disorders, and transplantation.