Massachusetts Financial Services Co. MA Buys 11,423 Shares of New Oriental Education & Technology Group Inc. (NYSE:EDU)

Massachusetts Financial Services Co. MA lifted its holdings in New Oriental Education & Technology Group Inc. (NYSE:EDU - Free Report) by 12.9% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 99,858 shares of the company's stock after purchasing an additional 11,423 shares during the quarter. Massachusetts Financial Services Co. MA owned 0.06% of New Oriental Education & Technology Group worth $7,573,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently modified their holdings of EDU. Price T Rowe Associates Inc. MD bought a new position in New Oriental Education & Technology Group during the first quarter valued at about $103,392,000. Artal Group S.A. purchased a new stake in shares of New Oriental Education & Technology Group during the first quarter valued at $1,302,000. Virtu Financial LLC purchased a new stake in shares of New Oriental Education & Technology Group during the first quarter valued at $1,220,000. Swedbank AB purchased a new stake in shares of New Oriental Education & Technology Group during the first quarter valued at $6,171,000. Finally, Atria Investments Inc purchased a new stake in shares of New Oriental Education & Technology Group during the first quarter valued at $1,006,000.

New Oriental Education & Technology Group Stock Down 0.4 %

EDU opened at $58.58 on Wednesday. The firm has a market capitalization of $9.94 billion, a P/E ratio of 25.03 and a beta of 0.49. The stock's 50 day moving average price is $65.35 and its two-hundred day moving average price is $70.28. New Oriental Education & Technology Group Inc. has a 12-month low of $54.00 and a 12-month high of $98.20.

New Oriental Education & Technology Group (NYSE:EDU - Get Free Report) last announced its quarterly earnings data on Wednesday, October 23rd. The company reported $1.60 EPS for the quarter, topping analysts' consensus estimates of $1.33 by $0.27. New Oriental Education & Technology Group had a return on equity of 9.43% and a net margin of 8.38%. The company had revenue of $1.44 billion during the quarter, compared to the consensus estimate of $1.45 billion. During the same quarter last year, the company earned $0.99 EPS. The company's quarterly revenue was up 30.5% on a year-over-year basis. As a group, analysts anticipate that New Oriental Education & Technology Group Inc. will post 2.94 earnings per share for the current year.

Analysts Set New Price Targets

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

New Oriental Education & Technology Group 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.