Roche Holding AG (OTCMKTS:RHHBY) Shares Sold by Confluence Investment Management LLC

Confluence Investment Management LLC trimmed its stake in shares of Roche Holding AG (OTCMKTS:RHHBY) by 14.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 11,071 shares of the company’s stock after selling 1,851 shares during the quarter. Confluence Investment Management LLC’s holdings in Roche were worth $442,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in RHHBY. Cardinal Capital Management Inc. acquired a new position in Roche during the 2nd quarter valued at about $16,860,000. OLD National Bancorp IN boosted its position in shares of Roche by 3.2% during the second quarter. OLD National Bancorp IN now owns 265,242 shares of the company’s stock worth $9,206,000 after buying an additional 8,146 shares during the period. Altrius Capital Management Inc grew its holdings in Roche by 6.0% in the 2nd quarter. Altrius Capital Management Inc now owns 224,804 shares of the company’s stock worth $7,794,000 after buying an additional 12,646 shares in the last quarter. Kornitzer Capital Management Inc. KS increased its position in Roche by 1.3% in the 3rd quarter. Kornitzer Capital Management Inc. KS now owns 136,923 shares of the company’s stock valued at $5,490,000 after acquiring an additional 1,798 shares during the period. Finally, Rhumbline Advisers raised its stake in Roche by 0.9% during the 2nd quarter. Rhumbline Advisers now owns 103,985 shares of the company’s stock valued at $3,605,000 after acquiring an additional 904 shares in the last quarter.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on RHHBY. Bank of America upgraded shares of Roche from a “neutral” rating to a “buy” rating in a research note on Friday, September 13th. Deutsche Bank Aktiengesellschaft lowered shares of Roche from a “hold” rating to a “sell” rating in a research note on Friday, September 13th. Three equities research analysts have rated the stock with a sell rating, one has given a hold rating and one has given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold”.

Roche Price Performance

Shares of OTCMKTS RHHBY opened at $37.61 on Friday. The business has a 50 day simple moving average of $39.38 and a 200 day simple moving average of $36.85. Roche Holding AG has a 52 week low of $29.20 and a 52 week high of $42.43.

Roche Company Profile

Roche Holding AG engages in the pharmaceuticals and diagnostics businesses in Europe, North America, Latin America, Asia, Africa, Australia, and Oceania. The company offers pharmaceutical products in the therapeutic areas of anemia, blood and solid tumors, dermatology, hemophilia, inflammatory and autoimmune, neurological disorders, ophthalmology, respiratory disorders, and transplantation.