Handelsbanken Fonder AB Has $4.80 Million Position in New Oriental Education & Technology Group Inc. (NYSE:EDU)

Handelsbanken Fonder AB reduced its position in New Oriental Education & Technology Group Inc. (NYSE:EDU - Free Report) by 17.4% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 65,500 shares of the company's stock after selling 13,800 shares during the period. Handelsbanken Fonder AB's holdings in New Oriental Education & Technology Group were worth $4,800,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in EDU. Personal CFO Solutions LLC bought a new stake in shares of New Oriental Education & Technology Group during the 3rd quarter valued at about $200,000. AFG Fiduciary Services Limited Partnership purchased a new stake in New Oriental Education & Technology Group during the 3rd quarter valued at $218,000. Jaffetilchin Investment Partners LLC bought a new position in New Oriental Education & Technology Group in the 3rd quarter valued at $251,000. Caxton Associates LP bought a new position in New Oriental Education & Technology Group in the 3rd quarter valued at $261,000. Finally, Wrapmanager Inc. bought a new position in shares of New Oriental Education & Technology Group during the 3rd quarter worth $272,000.

New Oriental Education & Technology Group Price Performance

Shares of EDU stock traded up $3.62 on Friday, hitting $83.26. The stock had a trading volume of 3,242,978 shares, compared to its average volume of 1,818,795. The firm has a market capitalization of $14.13 billion, a P/E ratio of 44.76 and a beta of 0.49. New Oriental Education & Technology Group Inc. has a 1 year low of $35.70 and a 1 year high of $98.20. The company's 50 day moving average price is $89.25 and its 200-day moving average price is $78.82.

New Oriental Education & Technology Group (NYSE:EDU - Get Free Report) last released its quarterly earnings data on Wednesday, January 24th. The company reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.26 by ($0.23). The business had revenue of $869.60 million for the quarter, compared to analyst estimates of $814.01 million. New Oriental Education & Technology Group had a return on equity of 8.20% and a net margin of 7.72%. The company's revenue was up 36.3% compared to the same quarter last year. During the same period in the prior year, the company posted $0.01 earnings per share. On average, equities analysts forecast that New Oriental Education & Technology Group Inc. will post 2.02 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages recently weighed in on EDU. Morgan Stanley raised their price objective on New Oriental Education & Technology Group from $85.00 to $95.00 and gave the company an "overweight" rating in a research report on Thursday, March 28th. Citigroup raised their price objective on New Oriental Education & Technology Group from $66.00 to $127.00 and gave the stock a "buy" rating in a research note on Thursday. Finally, StockNews.com cut New Oriental Education & Technology Group from a "buy" rating to a "hold" rating in a research note on Thursday, January 4th. One analyst has rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $97.67.

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.