Healthcare of Ontario Pension Plan Trust Fund Sells 550,800 Shares of New Oriental Education & Technology Group, Inc. $EDU

Healthcare of Ontario Pension Plan Trust Fund decreased its stake in shares of New Oriental Education & Technology Group, Inc. (NYSE:EDU) by 62.1% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 336,700 shares of the company’s stock after selling 550,800 shares during the period. Healthcare of Ontario Pension Plan Trust Fund’s holdings in New Oriental Education & Technology Group were worth $19,067,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in EDU. Invesco Ltd. lifted its holdings in New Oriental Education & Technology Group by 5,697.3% in the 4th quarter. Invesco Ltd. now owns 4,610,905 shares of the company’s stock worth $253,738,000 after purchasing an additional 4,531,370 shares during the last quarter. Discerene Group LP grew its holdings in New Oriental Education & Technology Group by 23.7% during the fourth quarter. Discerene Group LP now owns 1,955,430 shares of the company’s stock valued at $107,607,000 after purchasing an additional 374,916 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new position in shares of New Oriental Education & Technology Group in the fourth quarter valued at approximately $86,526,000. Orbis Allan Gray Ltd raised its position in shares of New Oriental Education & Technology Group by 40.2% in the fourth quarter. Orbis Allan Gray Ltd now owns 837,551 shares of the company’s stock valued at $46,090,000 after purchasing an additional 240,053 shares during the period. Finally, Federated Hermes Inc. lifted its stake in shares of New Oriental Education & Technology Group by 13,865.2% in the fourth quarter. Federated Hermes Inc. now owns 742,249 shares of the company’s stock worth $40,846,000 after buying an additional 736,934 shares during the last quarter.

New Oriental Education & Technology Group Trading Up 1.4%

EDU opened at $49.91 on Tuesday. The business has a 50 day moving average of $47.26 and a 200-day moving average of $53.16. The stock has a market capitalization of $7.89 billion, a price-to-earnings ratio of 19.12, a P/E/G ratio of 0.69 and a beta of 0.19. New Oriental Education & Technology Group, Inc. has a 1-year low of $41.62 and a 1-year high of $64.97.

New Oriental Education & Technology Group (NYSE:EDU) last announced its earnings results on Tuesday, April 14th. The company reported $0.10 earnings per share (EPS) for the quarter. The business had revenue of $1.42 billion for the quarter. New Oriental Education & Technology Group had a net margin of 7.82% and a return on equity of 11.67%. Equities analysts predict that New Oriental Education & Technology Group, Inc. will post 3.14 EPS for the current year.

Analysts Set New Price Targets

Several analysts recently issued reports on EDU shares. New Street Research set a $65.00 price objective on shares of New Oriental Education & Technology Group in a report on Thursday, June 11th. Zacks Research downgraded shares of New Oriental Education & Technology Group from a “strong-buy” rating to a “hold” rating in a report on Monday, March 30th. The Goldman Sachs Group raised shares of New Oriental Education & Technology Group from a “neutral” rating to a “buy” rating and cut their target price for the stock from $67.00 to $65.00 in a research report on Thursday, June 11th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of New Oriental Education & Technology Group in a research report on Tuesday, July 21st. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $66.24.

About New Oriental Education & Technology Group

New Oriental Education & Technology Group (NYSE: EDU) is one of China’s leading providers of private educational services, specializing in language training, test preparation and consulting for overseas study. The company’s offerings span a range of subjects, including English language instruction, preparatory courses for examinations such as the TOEFL, GRE and GMAT, and K-12 after-school tutoring. New Oriental’s curriculum is delivered through a combination of in-person learning centers and digital platforms, enabling students across various regions to access its educational resources.

Founded in 1993 by Michael Yu Minhong in Beijing, New Oriental began as a small language school and quickly expanded its footprint.