Mitsubishi UFJ Kokusai Asset Management Co. Ltd. reduced its holdings in AstraZeneca PLC (NASDAQ:AZN – Free Report) by 13.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 24,865 shares of the company’s stock after selling 3,868 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd.’s holdings in AstraZeneca were worth $1,780,000 at the end of the most recent reporting period.
Several other hedge funds have also recently bought and sold shares of the business. ICA Group Wealth Management LLC purchased a new stake in shares of AstraZeneca during the 4th quarter worth about $26,000. Parkside Financial Bank & Trust raised its stake in shares of AstraZeneca by 4,875.0% during the 1st quarter. Parkside Financial Bank & Trust now owns 398 shares of the company’s stock worth $26,000 after purchasing an additional 390 shares in the last quarter. Fairfield Bush & CO. purchased a new stake in shares of AstraZeneca during the 1st quarter worth about $28,000. Syverson Strege & Co purchased a new stake in shares of AstraZeneca during the 1st quarter worth about $30,000. Finally, Sunbelt Securities Inc. purchased a new stake in shares of AstraZeneca during the 1st quarter worth about $33,000. 15.68% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
A number of research firms have recently weighed in on AZN. Erste Group Bank reaffirmed a “hold” rating on shares of AstraZeneca in a research note on Friday, September 8th. StockNews.com began coverage on AstraZeneca in a research note on Thursday, October 5th. They issued a “strong-buy” rating on the stock. Finally, Jefferies Financial Group raised AstraZeneca from a “hold” rating to a “buy” rating in a research note on Monday, September 25th. Two analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $103.00.
AstraZeneca Stock Performance
AZN opened at $64.13 on Monday. The firm has a market capitalization of $198.79 billion, a P/E ratio of 33.75, a price-to-earnings-growth ratio of 1.28 and a beta of 0.51. The stock’s 50 day moving average price is $65.77 and its two-hundred day moving average price is $68.96. The company has a quick ratio of 0.60, a current ratio of 0.79 and a debt-to-equity ratio of 0.60. AstraZeneca PLC has a 12-month low of $61.73 and a 12-month high of $76.56.
AstraZeneca (NASDAQ:AZN – Get Free Report) last released its earnings results on Wednesday, November 8th. The company reported $0.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.84 by $0.03. The firm had revenue of $11.49 billion for the quarter, compared to analyst estimates of $11.55 billion. AstraZeneca had a return on equity of 30.30% and a net margin of 13.10%. The company’s revenue was up 4.6% on a year-over-year basis. During the same quarter last year, the firm posted $0.84 EPS. On average, equities analysts forecast that AstraZeneca PLC will post 3.64 earnings per share for the current year.
AstraZeneca Company Profile
AstraZeneca PLC, a biopharmaceutical company, focuses on the discovery, development, manufacture, andcommercialization of prescription medicines. The company's marketed products include Calquence, Enhertu, Faslodex, Imfinzi, Iressa, Koselugo, Lumoxiti, Lynparza, Orpathys, Tagrisso, and Zoladex for oncology; Andexxa/Ondexxya, Atacand, Atacand HCT, Atacand Plus, Brilinta/Brilique, Bydureon/Byetta, BCise, Byetta, Crestor, Evrenzo, Farxiga/Forxiga, Komboglyze/Kombiglyze XR, Lokelma, Onglyza, Qtern, Xigduo/Xigduo, and Zestril XR for cardiovascular, renal, and metabolism diseases; Accolate, Accoleit, Vanticon, Bevespi Aerosphere, Breztri Aerosphere, Bricanyl Respules and Turbuhaler, Daliresp/Daxas, Duaklir Genuair, Fasenra, Pulmicort, Rhinocort, Saphnelo, Symbicort, and Tezspire for respiratory and immunology; and Kanuma, Soliris, Strensiq, and Ultomiris for rare diseases.
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