Alkeon Capital Management LLC Sells 1,344 Shares of New Oriental Education & Technology Group Inc. (NYSE:EDU)

Alkeon Capital Management LLC lessened its stake in shares of New Oriental Education & Technology Group Inc. (NYSE:EDU) by 0.1% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,563,597 shares of the company’s stock after selling 1,344 shares during the period. Alkeon Capital Management LLC’s holdings in New Oriental Education & Technology Group were worth $118,583,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of New Oriental Education & Technology Group by 20,215.2% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 994,431 shares of the company’s stock valued at $75,418,000 after purchasing an additional 989,536 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of New Oriental Education & Technology Group by 14.2% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,658 shares of the company’s stock valued at $126,000 after buying an additional 206 shares during the period. Healthcare of Ontario Pension Plan Trust Fund increased its position in New Oriental Education & Technology Group by 23.2% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,823,200 shares of the company’s stock valued at $138,271,000 after buying an additional 342,800 shares in the last quarter. Hancock Whitney Corp raised its stake in New Oriental Education & Technology Group by 49.4% during the 3rd quarter. Hancock Whitney Corp now owns 4,075 shares of the company’s stock worth $309,000 after buying an additional 1,348 shares during the period. Finally, Harvest Fund Management Co. Ltd boosted its holdings in New Oriental Education & Technology Group by 9.5% in the third quarter. Harvest Fund Management Co. Ltd now owns 289,420 shares of the company’s stock worth $21,935,000 after acquiring an additional 25,000 shares in the last quarter.

Analyst Upgrades and Downgrades

EDU has been the subject of several recent research reports. Morgan Stanley set a $83.00 price objective on New Oriental Education & Technology Group in a report on Thursday, October 17th. StockNews.com upgraded shares of New Oriental Education & Technology Group from a “sell” rating to a “hold” rating in a report on Thursday, October 24th. Finally, Citigroup reduced their price objective on shares of New Oriental Education & Technology Group from $127.00 to $106.00 and set a “buy” rating for the company in a report on Friday, August 2nd.

New Oriental Education & Technology Group Trading Up 1.6 %

Shares of New Oriental Education & Technology Group stock opened at $59.52 on Friday. The stock has a fifty day simple moving average of $65.28 and a 200 day simple moving average of $70.03. New Oriental Education & Technology Group Inc. has a 12-month low of $54.00 and a 12-month high of $98.20. The company has a market capitalization of $10.10 billion, a P/E ratio of 25.44 and a beta of 0.49.

New Oriental Education & Technology Group (NYSE:EDU) last announced its earnings results on Wednesday, October 23rd. The company reported $1.60 EPS for the quarter, beating the consensus estimate of $1.33 by $0.27. New Oriental Education & Technology Group had a net margin of 8.38% and a return on equity of 9.43%. The company had revenue of $1.44 billion during the quarter, compared to the consensus estimate of $1.45 billion. During the same quarter in the prior year, the company posted $0.99 earnings per share. The firm’s revenue for the quarter was up 30.5% on a year-over-year basis. On average, analysts predict that New Oriental Education & Technology Group Inc. will post 2.94 EPS for the current year.

About New Oriental Education & Technology Group

New Oriental Education & Technology Group Inc provides private educational services under the New Oriental brand in the People’s Republic of China. The company operates through four segments: Educational Services and Test Preparation Courses; Online Education and Other Services; Overseas Study Consulting Services; and Educational Materials and Distribution.