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

Pictet Asset Management Holding SA grew its stake in shares of New Oriental Education & Technology Group Inc. (NYSE:EDU - Free Report) by 4.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 155,284 shares of the company's stock after buying an additional 6,342 shares during the period. Pictet Asset Management Holding SA owned 0.09% of New Oriental Education & Technology Group worth $9,966,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. SBI Securities Co. Ltd. purchased a new position in New Oriental Education & Technology Group during the fourth quarter worth about $51,000. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of New Oriental Education & Technology Group by 14.2% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,658 shares of the company's stock worth $126,000 after purchasing an additional 206 shares during the last quarter. Empowered Funds LLC purchased a new stake in New Oriental Education & Technology Group in the fourth quarter valued at approximately $138,000. Blue Trust Inc. lifted its position in New Oriental Education & Technology Group by 37.8% during the fourth quarter. Blue Trust Inc. now owns 2,827 shares of the company's stock valued at $181,000 after purchasing an additional 775 shares during the last quarter. Finally, Sei Investments Co. purchased a new position in New Oriental Education & Technology Group in the 4th quarter worth approximately $224,000.

Analysts Set New Price Targets

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

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New Oriental Education & Technology Group Trading Down 4.2 %

EDU stock traded down $1.88 during midday trading on Monday, hitting $42.75. The company had a trading volume of 2,151,856 shares, compared to its average volume of 1,888,435. The stock has a market cap of $7.25 billion, a price-to-earnings ratio of 18.19 and a beta of 0.37. New Oriental Education & Technology Group Inc. has a 52 week low of $41.50 and a 52 week high of $91.04. The stock's 50 day moving average price is $49.25 and its 200 day moving average price is $58.13.

New Oriental Education & Technology Group Company Profile

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.