Sinovac Biotech Ltd. (SVA) Posts Earnings Results, Beats Expectations By $0.01 EPS
Sinovac Biotech Ltd. (NASDAQ:SVA) released its quarterly earnings results on Monday. The biopharmaceutical company reported $0.06 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.05 by $0.01. Sinovac Biotech had a negative return on equity of 10.26% and a negative net margin of 17.94%. The firm had revenue of $28.74 million for the quarter, compared to analyst estimates of $16.76 million. During the same quarter last year, the company posted ($0.01) earnings per share.
Shares of Sinovac Biotech (NASDAQ:SVA) opened at 6.10 on Tuesday. The stock’s market cap is $347.30 million. The firm has a 50-day moving average price of $6.07 and a 200-day moving average price of $5.95. Sinovac Biotech has a one year low of $4.38 and a one year high of $7.16.
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A number of institutional investors have recently bought and sold shares of the stock. State Street Corp purchased a new position in Sinovac Biotech during the second quarter worth $100,000. TFS Capital LLC boosted its position in Sinovac Biotech by 86.8% in the second quarter. TFS Capital LLC now owns 24,650 shares of the biopharmaceutical company’s stock worth $146,000 after buying an additional 11,451 shares during the last quarter. OMERS ADMINISTRATION Corp boosted its position in Sinovac Biotech by 5.6% in the second quarter. OMERS ADMINISTRATION Corp now owns 35,700 shares of the biopharmaceutical company’s stock worth $212,000 after buying an additional 1,900 shares during the last quarter. Panagora Asset Management Inc. boosted its position in Sinovac Biotech by 4.7% in the second quarter. Panagora Asset Management Inc. now owns 42,816 shares of the biopharmaceutical company’s stock worth $254,000 after buying an additional 1,929 shares during the last quarter. Finally, GLG Partners LP purchased a new position in Sinovac Biotech during the second quarter worth $343,000. 19.92% of the stock is owned by institutional investors.
Separately, TheStreet lowered Sinovac Biotech from a “hold” rating to a “sell” rating in a report on Wednesday, August 24th.
Sinovac Biotech Company Profile
Sinovac Biotech Ltd. (Sinovac) is a holding company. The Company is a biopharmaceutical company that focuses on the research, development, manufacturing and commercialization of vaccines that protect against human infectious diseases, including hepatitis A, hepatitis B, seasonal influenza, Haemagglutinase5 Neuraminidase1 (H5N1) and Influenza A (H1N1) pandemic influenza and mumps.
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