While many analysts had originally thought that Apple’s (NASDAQ:AAPL) Watch could have numerous biomedical technologies built into it, when the Watch was finally released it came as a bit of a surprise since it lacked any major bio-sensing technology.
With that said, Apple Inc. (NASDAQ:AAPL) CEO Tim Cook did mention that the company wanted to stay away from having to get FDA approval on any technology built into the Watch, and instead suggested that they would not mind having to go through the FDA process for a different standalone device or even application or accessory for the Watch.
Well, it appears that Apple Inc. (NASDAQ:AAPL) may be moving forward with such plans as BuzzFeed has reported that the company is hiring and looking to hire multiple biomedical engineers. There are now at least four positions posted on Apple’s jobs board for individuals capable of working on devices that measure physiological signs. Additionally, Apple has already hired at least five individuals within the medical research space over the last three months. Could a future Apple Watch have biosensing capabilities, or could a Watch band be under development with such capabilities? We will have to wait and find out.
The stock is up 0.13% or $0.12 following the news, hitting $100.08 per share. About 12.58 million shares traded hands. AAPL has declined 21.55% since June 9, 2015 and is downtrending. It has underperformed the S&P500 by 14.07%.
From a total of 31 analysts covering Apple Inc. (NASDAQ:AAPL) stock, 27 rate it a “Buy”, 0 a “Sell”, and 4 a “Hold”. This means that 87% of the ratings are positive. The highest target price is $200 while the lowest target price is $102. The mean of all analyst targets is $143.40 which is 43.29% above today’s ($100.08) stock price. Apple Inc. was the topic of 104 analyst reports since July 21, 2015 according to the firm StockzIntelligence Inc. Deutsche Bank maintained shares on January 11 with a “Hold” rating. Stifel Nicolaus maintained shares with a”Buy” rating and a $140 target share price in their report from a December 23. Mizuho upgraded AAPL stock in a recent report from January 11 to a “Buy” rating. Barclays Capital maintained the rating on December 14. Barclays Capital has a “Overweight” rating and a $150 price target on shares. Finally, Canaccord Genuity maintained the stock with a “Buy” rating in a report they issued on a January 8.
The institutional sentiment increased to 1.18 in Q2 2015. It’s up 0.22, from 0.96 in 2015Q2. The ratio improved, as 103 funds sold all their Apple Inc. shares they owned while 854 reduced their positions. 102 funds bought stakes while 1032 increased their total positions. Institutions now own 3.20 billion shares which is 1.58% less than the previous share count of 3.25 billion in 2015Q2.
Compton Capital Management Inc Ri holds 45.15% of its total portfolio in Apple Inc., equating to 113,694 shares. Raiff Partners Inc owns 100,000 shares representing 32.27% of their total US portfolio. Moreover, Rfg Advisory Group Llc has 25.06% of their total portfolio invested in the company, equating to 70,558 shares. The New York-based Independent Investors Inc has a total of 23.66% of their portfolio invested in the stock. Dock Street Asset Management Inc, a Connecticut-based fund reported 269,584 shares owned.
Since March 6, 2015, the stock had 0 insider buys, and 7 selling transactions for a total of $17.48 million in net activity. Maestri Luca sold 2,908 shares worth $325,347. Williams Jeffrey E sold 46,873 shares worth $5.18M. Riccio Daniel J. sold 24,085 shares worth $3.01M. Ahrendts Angela J sold 44,789 shares worth $5.90M. The insider Levinson Arthur D sold 70,000 shares worth $9.20 million.
Apple Inc. designs, manufactures and markets mobile communication and media devices, personal computers, and portable digital music players, and a variety of related software, services, peripherals, networking solutions, and third-party digital content and applications. The company has a market cap of $554.92 billion. The Company’s services and products include iPhone, iPad, Mac, iPod, Apple TV, a portfolio of consumer and professional software applications, the iOS and OS X operating systems, iCloud, and a variety of accessory, service and support offerings. It has 10.88 P/E ratio. The Firm also delivers digital content and applications through the iTunes Store, App StoreSM, iBookstoreSM, and Mac App Store.