Pictet Asset Management Holding SA Purchases 6,342 Shares of New Oriental Education & Technology Group Inc. (NYSE:EDU)

Pictet Asset Management Holding SA raised its position in shares of New Oriental Education & Technology Group Inc. (NYSE:EDU) by 4.3% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 155,284 shares of the company’s stock after purchasing an additional 6,342 shares during the period. Pictet Asset Management Holding SA owned about 0.09% of New Oriental Education & Technology Group worth $9,966,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also made changes to their positions in EDU. JPMorgan Chase & Co. lifted its stake in New Oriental Education & Technology Group by 192.2% in the third quarter. JPMorgan Chase & Co. now owns 826,783 shares of the company’s stock worth $62,703,000 after acquiring an additional 543,810 shares during the period. Public Employees Retirement System of Ohio purchased a new stake in shares of New Oriental Education & Technology Group in the 3rd quarter worth approximately $27,425,000. Green Court Capital Management Ltd bought a new position in shares of New Oriental Education & Technology Group during the fourth quarter valued at approximately $21,152,000. Panview Capital Ltd purchased a new position in New Oriental Education & Technology Group during the fourth quarter valued at approximately $27,358,000. Finally, Erste Asset Management GmbH bought a new position in New Oriental Education & Technology Group in the fourth quarter worth approximately $1,264,000.

Analysts Set New Price Targets

EDU has been the topic of several recent research reports. Macquarie cut New Oriental Education & Technology Group from an “outperform” rating to an “underperform” rating and dropped their target price for the company from $79.00 to $44.00 in a research report on Wednesday, January 22nd. Morgan Stanley downgraded shares of New Oriental Education & Technology Group from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $83.00 to $52.00 in a report on Wednesday, January 22nd. JPMorgan Chase & Co. cut shares of New Oriental Education & Technology Group from an “overweight” rating to a “neutral” rating and lowered their price target for the company from $85.00 to $50.00 in a report on Wednesday, January 22nd. StockNews.com lowered shares of New Oriental Education & Technology Group from a “buy” rating to a “hold” rating in a research note on Thursday, March 13th. Finally, China Renaissance downgraded shares of New Oriental Education & Technology Group from a “buy” rating to a “hold” rating in a research note on Monday, March 24th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $61.20.

New Oriental Education & Technology Group Stock Up 1.4 %

Shares of New Oriental Education & Technology Group stock opened at $48.61 on Thursday. The company has a 50 day moving average price of $49.38 and a 200 day moving average price of $58.48. The firm has a market capitalization of $8.25 billion, a P/E ratio of 20.69 and a beta of 0.47. New Oriental Education & Technology Group Inc. has a 52 week low of $44.46 and a 52 week high of $91.04.

About New Oriental Education & Technology Group

New Oriental Education & Technology Group, Inc is a holding company, which engages in the provision of private educational services. It operates through the following segments: Educational Services and Test Preparation Courses, Private Label Products and Livestreaming E-Commerce, Overseas Study Consulting Services, and Educational Materials and Distribution.