DAVENPORT & Co LLC Increases Stake in AstraZeneca PLC $AZN

DAVENPORT & Co LLC grew its holdings in AstraZeneca PLC (NASDAQ:AZN) by 174.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 48,878 shares of the company’s stock after acquiring an additional 31,061 shares during the period. DAVENPORT & Co LLC’s holdings in AstraZeneca were worth $3,750,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the business. Primecap Management Co. CA raised its stake in shares of AstraZeneca by 1.3% in the second quarter. Primecap Management Co. CA now owns 41,200,091 shares of the company’s stock worth $2,879,062,000 after buying an additional 538,606 shares during the period. Franklin Resources Inc. raised its stake in AstraZeneca by 0.9% during the 2nd quarter. Franklin Resources Inc. now owns 21,298,394 shares of the company’s stock worth $1,488,332,000 after acquiring an additional 196,401 shares during the period. Fisher Asset Management LLC raised its stake in AstraZeneca by 2.6% during the 2nd quarter. Fisher Asset Management LLC now owns 20,695,979 shares of the company’s stock worth $1,446,235,000 after acquiring an additional 530,520 shares during the period. Jennison Associates LLC lifted its holdings in AstraZeneca by 15.2% during the second quarter. Jennison Associates LLC now owns 12,167,365 shares of the company’s stock valued at $850,255,000 after purchasing an additional 1,605,133 shares in the last quarter. Finally, Ameriprise Financial Inc. boosted its position in shares of AstraZeneca by 2.1% in the second quarter. Ameriprise Financial Inc. now owns 5,046,992 shares of the company’s stock worth $351,734,000 after purchasing an additional 104,625 shares during the period. Institutional investors own 20.35% of the company’s stock.

AstraZeneca Trading Up 0.5%

Shares of AZN stock opened at $92.90 on Friday. The company has a current ratio of 0.88, a quick ratio of 0.69 and a debt-to-equity ratio of 0.54. The stock has a market capitalization of $288.12 billion, a price-to-earnings ratio of 30.86, a price-to-earnings-growth ratio of 1.72 and a beta of 0.32. AstraZeneca PLC has a 12-month low of $61.24 and a 12-month high of $94.01. The stock’s 50-day moving average price is $88.34 and its 200-day moving average price is $80.46.

AstraZeneca (NASDAQ:AZN) last released its quarterly earnings results on Thursday, November 6th. The company reported $1.19 earnings per share for the quarter, beating the consensus estimate of $1.14 by $0.05. The business had revenue of $15.19 billion during the quarter, compared to analysts’ expectations of $14.75 billion. AstraZeneca had a return on equity of 32.89% and a net margin of 16.17%.The firm’s revenue for the quarter was up 12.0% compared to the same quarter last year. During the same quarter last year, the business posted $2.08 EPS. Equities research analysts predict that AstraZeneca PLC will post 4.51 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on AZN shares. Weiss Ratings reaffirmed a “buy (b)” rating on shares of AstraZeneca in a report on Wednesday, October 8th. Jefferies Financial Group assumed coverage on AstraZeneca in a research report on Monday, October 27th. They issued a “buy” rating on the stock. Cowen reiterated a “buy” rating on shares of AstraZeneca in a research report on Tuesday, December 9th. Guggenheim reissued a “buy” rating on shares of AstraZeneca in a research note on Wednesday, December 3rd. Finally, Morgan Stanley restated an “overweight” rating and issued a $103.00 price target on shares of AstraZeneca in a research note on Wednesday, December 3rd. Eight equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $95.75.

AstraZeneca Profile

AstraZeneca is a global, science-led biopharmaceutical company headquartered in Cambridge, England. Formed through the 1999 merger of Sweden’s Astra AB and the UK’s Zeneca Group, the company researches, develops, manufactures and commercializes prescription medicines across a range of therapeutic areas. AstraZeneca’s operations span research and development, large-scale manufacturing, and commercial distribution, with a presence in developed and emerging markets worldwide.

The company focuses on several core therapy areas including oncology, cardiovascular, renal and metabolism (CVRM), respiratory and immunology, and rare diseases.