FY2024 Earnings Estimate for HUTCHMED (China) Limited Issued By Trinity Delta (NASDAQ:HCM)

HUTCHMED (China) Limited (NASDAQ:HCM) – Trinity Delta lifted their FY2024 EPS estimates for shares of HUTCHMED in a report released on Wednesday, April 3rd. Trinity Delta analyst L. Gregorek now forecasts that the company will earn ($0.71) per share for the year, up from their previous forecast of ($0.82). The consensus estimate for HUTCHMED’s current full-year earnings is ($0.45) per share.

HCM has been the topic of several other reports. Cantor Fitzgerald restated an “overweight” rating on shares of HUTCHMED in a research report on Friday, January 12th. StockNews.com raised shares of HUTCHMED from a “hold” rating to a “buy” rating in a research report on Wednesday, March 27th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $29.70.

HUTCHMED Stock Performance

HCM opened at $17.94 on Monday. The firm has a 50-day simple moving average of $15.44 and a two-hundred day simple moving average of $16.72. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.72 and a quick ratio of 2.60. HUTCHMED has a 52 week low of $10.68 and a 52 week high of $20.73.

Hedge Funds Weigh In On HUTCHMED

Hedge funds and other institutional investors have recently modified their holdings of the business. E Fund Management Hong Kong Co. Ltd. boosted its stake in HUTCHMED by 133.9% in the first quarter. E Fund Management Hong Kong Co. Ltd. now owns 50,214 shares of the company’s stock valued at $859,000 after acquiring an additional 28,749 shares in the last quarter. Raymond James & Associates raised its holdings in shares of HUTCHMED by 9.5% in the first quarter. Raymond James & Associates now owns 50,288 shares of the company’s stock worth $951,000 after buying an additional 4,351 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in shares of HUTCHMED by 1.9% in the first quarter. Bank of New York Mellon Corp now owns 141,157 shares of the company’s stock worth $2,671,000 after buying an additional 2,603 shares during the last quarter. US Bancorp DE raised its holdings in shares of HUTCHMED by 270.9% in the first quarter. US Bancorp DE now owns 3,687 shares of the company’s stock worth $70,000 after buying an additional 2,693 shares during the last quarter. Finally, Panagora Asset Management Inc. raised its holdings in shares of HUTCHMED by 125.5% in the first quarter. Panagora Asset Management Inc. now owns 26,396 shares of the company’s stock worth $499,000 after buying an additional 14,689 shares during the last quarter. 8.82% of the stock is currently owned by institutional investors.

About HUTCHMED

HUTCHMED (China) Limited, together with its subsidiaries, discovers, develops, and commercializes targeted therapeutics and immunotherapies for cancer and immunological diseases in Hong Kong and internationally. The company develops Savolitinib for the treatment of non-small cell lung cancer (NSCLC), papillary renal cell carcinoma (RCC), and gastric cancer (GC); and Fruquintinib, an inhibitor for colorectal cancer (CRC), breast cancer, gastric cancer, microsatellite stable-CRC endometrial cancer (EMC), NSCLC, RCC, gastrointestinal, cervical, and solid tumors.