Public Employees Retirement System of Ohio trimmed its holdings in shares of Incyte Co. (NASDAQ:INCY) by 6.5% in the second quarter, HoldingsChannel reports. The institutional investor owned 75,076 shares of the biopharmaceutical company’s stock after selling 5,247 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in Incyte were worth $6,378,000 at the end of the most recent reporting period.
Other large investors have also modified their holdings of the company. Securian Asset Management Inc boosted its position in shares of Incyte by 0.7% in the 2nd quarter. Securian Asset Management Inc now owns 18,419 shares of the biopharmaceutical company’s stock valued at $1,565,000 after purchasing an additional 133 shares during the period. ETF Managers Group LLC increased its holdings in Incyte by 9.8% in the first quarter. ETF Managers Group LLC now owns 1,717 shares of the biopharmaceutical company’s stock worth $148,000 after buying an additional 153 shares during the last quarter. World Asset Management Inc increased its holdings in Incyte by 1.5% in the second quarter. World Asset Management Inc now owns 11,545 shares of the biopharmaceutical company’s stock worth $981,000 after buying an additional 174 shares during the last quarter. Hartford Investment Management Co. raised its position in Incyte by 1.1% during the second quarter. Hartford Investment Management Co. now owns 19,482 shares of the biopharmaceutical company’s stock valued at $1,655,000 after acquiring an additional 206 shares in the last quarter. Finally, Janney Montgomery Scott LLC raised its position in Incyte by 2.2% during the first quarter. Janney Montgomery Scott LLC now owns 10,157 shares of the biopharmaceutical company’s stock valued at $874,000 after acquiring an additional 221 shares in the last quarter. Hedge funds and other institutional investors own 92.65% of the company’s stock.
In related news, EVP Paula J. Swain sold 2,500 shares of Incyte stock in a transaction dated Monday, June 17th. The shares were sold at an average price of $80.00, for a total transaction of $200,000.00. Following the completion of the transaction, the executive vice president now directly owns 39,013 shares of the company’s stock, valued at approximately $3,121,040. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Steven H. Stein sold 8,357 shares of the business’s stock in a transaction dated Monday, June 24th. The shares were sold at an average price of $87.96, for a total transaction of $735,081.72. The disclosure for this sale can be found here. Insiders have sold a total of 118,540 shares of company stock valued at $9,829,776 in the last quarter. 17.10% of the stock is currently owned by corporate insiders.
INCY stock traded up $1.13 during trading on Wednesday, reaching $79.04. 28,624 shares of the stock were exchanged, compared to its average volume of 1,035,952. The company has a market capitalization of $16.98 billion, a P/E ratio of 96.07 and a beta of 1.09. The company has a current ratio of 5.61, a quick ratio of 5.59 and a debt-to-equity ratio of 0.02. Incyte Co. has a twelve month low of $57.00 and a twelve month high of $89.30. The stock has a 50 day simple moving average of $81.66 and a 200-day simple moving average of $81.84.
Incyte (NASDAQ:INCY) last issued its quarterly earnings data on Tuesday, July 30th. The biopharmaceutical company reported $0.75 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.38 by $0.37. Incyte had a return on equity of 17.10% and a net margin of 15.25%. The company had revenue of $529.93 million during the quarter, compared to analysts’ expectations of $498.57 million. During the same period last year, the business earned $0.63 earnings per share. The business’s revenue was up 1.6% on a year-over-year basis. Equities analysts predict that Incyte Co. will post 1.98 EPS for the current year.
A number of equities research analysts recently issued reports on the stock. Morgan Stanley upped their price objective on shares of Incyte from $82.00 to $87.00 and gave the stock an “equal weight” rating in a report on Thursday, September 5th. Credit Suisse Group began coverage on Incyte in a report on Monday, May 20th. They set a “neutral” rating and a $75.00 target price on the stock. JPMorgan Chase & Co. reaffirmed a “buy” rating and issued a $91.00 price target on shares of Incyte in a research report on Wednesday, July 31st. Nomura upped their price target on Incyte from $100.00 to $111.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Finally, Leerink Swann set a $90.00 price objective on Incyte and gave the company a “hold” rating in a research note on Wednesday, July 31st. One analyst has rated the stock with a sell rating, ten have issued a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. Incyte currently has a consensus rating of “Buy” and an average price target of $91.63.
Incyte Corporation, a biopharmaceutical company, focuses on the discovery, development, and commercialization of various therapeutics in the United States. The company offers JAKAFI, a drug for the treatment of myelofibrosis and polycythemia vera cancers; and Iclusig, a kinase inhibitor to treat chronic myeloid leukemia and philadelphia-chromosome positive acute lymphoblastic leukemia.
Further Reading: Short Selling
Want to see what other hedge funds are holding INCY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Incyte Co. (NASDAQ:INCY).
Receive News & Ratings for Incyte Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Incyte and related companies with MarketBeat.com's FREE daily email newsletter.