On Holding AG $ONON Shares Newly Purchased by Hohimer Wealth Management LLC

Key Points

• Hohimer Wealth Management opened a position in On Holding, buying 37,576 shares worth about $1.11 million in the third quarter. Institutional investors and hedge funds own 36.39% of the stock.
• On reported quarterly EPS of $0.35, below the $0.42 consensus, and revenue of $1.05 billion, below estimates; revenue nevertheless grew 13.5% year over year.
• CEO Caspar Coppetti and insider Olivier Bernhard each purchased 65,000 shares. Analysts’ consensus rating is “Moderate Buy,” with an average price target of $43.73.

Hohimer Wealth Management LLC bought a new stake in On Holding AG (NYSE:ONON - Free Report) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 37,576 shares of the company's stock, valued at approximately $1,113,000.

Other hedge funds have also bought and sold shares of the company. Pinnacle Wealth Planning Services Inc. lifted its position in shares of ON by 5,181.2% in the third quarter. Pinnacle Wealth Planning Services Inc. now owns 845 shares of the company's stock valued at $25,000 after buying an additional 829 shares during the last quarter. EverSource Wealth Advisors LLC increased its holdings in shares of ON by 69.6% during the 1st quarter. EverSource Wealth Advisors LLC now owns 760 shares of the company's stock worth $26,000 after acquiring an additional 312 shares during the last quarter. Ascentis Independent Advisors acquired a new position in shares of ON during the 1st quarter worth approximately $34,000. Guardian Partners Inc. bought a new stake in ON in the 3rd quarter valued at $41,000. Finally, Signaturefd LLC raised its stake in ON by 29.5% in the 3rd quarter. Signaturefd LLC now owns 1,598 shares of the company's stock valued at $47,000 after acquiring an additional 364 shares during the period. 36.39% of the stock is currently owned by institutional investors and hedge funds.

ON Price Performance

Shares of NYSE ONON opened at $37.38 on Tuesday. The firm has a market cap of $23.86 billion, a P/E ratio of 26.27, a price-to-earnings-growth ratio of 0.76 and a beta of 2.05. The business's 50 day moving average is $31.67 and its 200-day moving average is $36.47. The company has a current ratio of 2.83, a quick ratio of 2.25 and a debt-to-equity ratio of 0.25. On Holding AG has a 1-year low of $26.36 and a 1-year high of $51.08.

ON (NYSE:ONON - Get Free Report) last released its quarterly earnings results on Tuesday, August 11th. The company reported $0.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.42 by ($0.07). The firm had revenue of $1.05 billion during the quarter, compared to the consensus estimate of $1.09 billion. ON had a net margin of 12.09% and a return on equity of 22.92%. The business's revenue for the quarter was up 13.5% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.09) earnings per share. Equities research analysts predict that On Holding AG will post 1.50 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO Caspar Coppetti bought 65,000 shares of the company's stock in a transaction dated Friday, August 14th. The stock was bought at an average price of $30.67 per share, with a total value of $1,993,550.00. Following the completion of the acquisition, the chief executive officer owned 2,440,855 shares of the company's stock, valued at $74,861,022.85. This represents a 2.74% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Olivier Bernhard acquired 65,000 shares of the business's stock in a transaction on Friday, August 14th. The stock was acquired at an average cost of $30.67 per share, with a total value of $1,993,550.00. Following the acquisition, the insider directly owned 5,228,184 shares in the company, valued at approximately $160,348,403.28. This trade represents a 1.26% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on ONON shares. Piper Sandler reaffirmed an "overweight" rating on shares of ON in a report on Monday. BMO Capital Markets reiterated a "market perform" rating and issued a $35.00 price objective on shares of ON in a report on Wednesday, October 28th. Barclays increased their price objective on shares of ON from $42.00 to $44.00 and gave the company an "overweight" rating in a research report on Thursday, September 24th. Wells Fargo & Company began coverage on shares of ON in a research note on Wednesday, November 4th. They set an "overweight" rating and a $48.00 target price for the company. Finally, BTIG Research restated a "buy" rating and set a $60.00 target price on shares of ON in a research note on Tuesday, November 3rd. Two investment analysts have rated the stock with a Strong Buy rating, twenty-three have given a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $43.73.

About ON

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