October 19, 2020

Saturna Capital Invests $531,000 in WuXi PharmaTech (Cayman) Inc. (WX)

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wuxi-pharmatech-logoDecember 22nd, From ABMN Staff

WuXi PharmaTech (Cayman) logoSaturna Capital acquired a new position in shares of WuXi PharmaTech (Cayman) Inc. (NYSE:WX) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 12,300 shares of the company’s stock, valued at approximately $531,000.

Separately, Jennison Associates increased its stake in shares of WuXi PharmaTech (Cayman) by 3.8% in the third quarter. Jennison Associates now owns 1,644,155 shares of the company’s stock valued at $71,044,000 after buying an additional 59,956 shares during the last quarter.

WuXi PharmaTech (Cayman) (NYSE:WX) last posted its quarterly earnings results on Tuesday, November 3rd. The company reported $0.31 EPS for the quarter, meeting the consensus estimate of $0.31. The firm earned $213.60 million during the quarter, compared to analyst estimates of $205.24 million. The company’s revenue was up 23.0% on a year-over-year basis. During the same period last year, the company earned $0.54 EPS.

Several analysts have weighed in on WX shares. Zacks Investment Research raised WuXi PharmaTech (Cayman) from a “hold” rating to a “buy” rating and set a $50.00 target price on the stock in a research note on Thursday, November 12th. Morgan Stanley downgraded WuXi PharmaTech (Cayman) from an “overweight” rating to an “equal weight” rating in a research note on Monday, October 5th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. WuXi PharmaTech (Cayman) currently has an average rating of “Hold” and a consensus target price of $43.83.

12 Month Chart for NYSE:WX
WuXi PharmaTech (NYSE:WX) Inc. is a pharmaceutical, biotechnology and medical device research and development (R&D) services company, with operations in China and the United States. The Company provides a portfolio of laboratory and manufacturing services throughout the drug and medical device R&D process to its customers. It conducts its operations in two segments: Laboratory services and Manufacturing services. The Company offers Laboratory services for pharmaceutical, biotechnology and medical device companies. It offers Manufacturing services, which include the development of manufacturing processes and the production of advanced intermediates and active pharmaceutical ingredients (APIs) for use by pharmaceutical companies in preclinical and clinical trials of small-molecule products and in commercial products, as well as the production of biologic products.

SOURCE: http://www.americanbankingnews.com/2015/12/22/saturna-capital-invests-531000-in-wuxi-pharmatech-cayman-inc-wx/

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