Healthcare of Ontario Pension Plan Trust Fund Buys 342,800 Shares of New Oriental Education & Technology Group Inc. (NYSE:EDU)

Healthcare of Ontario Pension Plan Trust Fund raised its stake in shares of New Oriental Education & Technology Group Inc. (NYSE:EDU) by 23.2% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,823,200 shares of the company’s stock after purchasing an additional 342,800 shares during the period. Healthcare of Ontario Pension Plan Trust Fund’s holdings in New Oriental Education & Technology Group were worth $138,271,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the stock. Ridgewood Investments LLC bought a new position in shares of New Oriental Education & Technology Group in the 2nd quarter worth about $43,000. Ashton Thomas Private Wealth LLC bought a new position in shares of New Oriental Education & Technology Group in the 2nd quarter worth about $50,000. Blue Trust Inc. raised its position in shares of New Oriental Education & Technology Group by 782.4% in the 2nd quarter. Blue Trust Inc. now owns 803 shares of the company’s stock worth $62,000 after acquiring an additional 712 shares in the last quarter. Hancock Whitney Corp bought a new position in shares of New Oriental Education & Technology Group in the 2nd quarter worth about $212,000. Finally, QRG Capital Management Inc. raised its position in shares of New Oriental Education & Technology Group by 7.4% in the 2nd quarter. QRG Capital Management Inc. now owns 3,666 shares of the company’s stock worth $285,000 after acquiring an additional 254 shares in the last quarter.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the company. Morgan Stanley set a $83.00 price objective on New Oriental Education & Technology Group in a research report on Thursday, October 17th. Citigroup lowered their price objective on New Oriental Education & Technology Group from $127.00 to $106.00 and set a “buy” rating for the company in a research report on Friday, August 2nd. Finally, StockNews.com raised New Oriental Education & Technology Group from a “sell” rating to a “hold” rating in a research report on Thursday, October 24th.

New Oriental Education & Technology Group Price Performance

Shares of EDU opened at $58.58 on Wednesday. The stock has a 50-day moving average of $65.35 and a 200-day moving average of $70.28. The company has a market cap of $9.94 billion, a PE ratio of 25.03 and a beta of 0.49. New Oriental Education & Technology Group Inc. has a one year low of $54.00 and a one year high of $98.20.

New Oriental Education & Technology Group (NYSE:EDU) last issued 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. The company had revenue of $1.44 billion during the quarter, compared to the consensus estimate of $1.45 billion. New Oriental Education & Technology Group had a return on equity of 9.43% and a net margin of 8.38%. The firm’s revenue for the quarter was up 30.5% compared to the same quarter last year. During the same period last year, the business posted $0.99 EPS. Analysts expect that New Oriental Education & Technology Group Inc. will post 2.94 EPS for the current fiscal year.

New Oriental Education & Technology Group Company Profile

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.