Cubist Systematic Strategies LLC Takes Position in AstraZeneca PLC (NASDAQ:AZN)

Cubist Systematic Strategies LLC bought a new position in shares of AstraZeneca PLC (NASDAQ:AZN - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 55,922 shares of the company's stock, valued at approximately $3,664,000.

Several other large investors also recently modified their holdings of AZN. Capital International Investors boosted its stake in AstraZeneca by 1.9% in the fourth quarter. Capital International Investors now owns 37,507,159 shares of the company's stock valued at $2,457,706,000 after buying an additional 686,008 shares in the last quarter. Bank of America Corp DE raised its position in AstraZeneca by 189.3% in the fourth quarter. Bank of America Corp DE now owns 24,026,966 shares of the company's stock valued at $1,574,247,000 after purchasing an additional 15,722,197 shares during the last quarter. Franklin Resources Inc. raised its position in AstraZeneca by 1.9% in the fourth quarter. Franklin Resources Inc. now owns 19,480,569 shares of the company's stock valued at $1,276,367,000 after purchasing an additional 357,894 shares during the last quarter. Jennison Associates LLC raised its position in AstraZeneca by 3.1% in the fourth quarter. Jennison Associates LLC now owns 15,430,963 shares of the company's stock valued at $1,011,037,000 after purchasing an additional 466,416 shares during the last quarter. Finally, Sanders Capital LLC raised its position in shares of AstraZeneca by 1.4% during the fourth quarter. Sanders Capital LLC now owns 15,186,692 shares of the company's stock worth $995,032,000 after acquiring an additional 212,301 shares during the last quarter. 20.35% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. Morgan Stanley started coverage on AstraZeneca in a research report on Wednesday, February 12th. They set an "overweight" rating for the company. UBS Group raised AstraZeneca from a "neutral" rating to a "buy" rating in a research note on Thursday, February 13th. Finally, BNP Paribas started coverage on AstraZeneca in a research note on Tuesday, April 15th. They set an "outperform" rating and a $75.00 target price for the company. One equities research analyst has rated the stock with a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Buy" and an average target price of $88.00.

AstraZeneca Stock Up 2.2%

AstraZeneca stock traded up $1.48 during mid-day trading on Thursday, reaching $67.71. The stock had a trading volume of 3,987,263 shares, compared to its average volume of 5,160,353. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.74 and a current ratio of 0.93. AstraZeneca PLC has a fifty-two week low of $61.24 and a fifty-two week high of $87.68. The stock's 50-day simple moving average is $70.73 and its 200-day simple moving average is $69.57. The firm has a market capitalization of $209.99 billion, a PE ratio of 29.95, a price-to-earnings-growth ratio of 1.42 and a beta of 0.40.

AstraZeneca (NASDAQ:AZN - Get Free Report) last announced its earnings results on Tuesday, April 29th. The company reported $1.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.10 by $0.14. The company had revenue of $13.59 billion for the quarter, compared to analysts' expectations of $13.71 billion. AstraZeneca had a return on equity of 32.23% and a net margin of 13.01%. AstraZeneca's quarterly revenue was up 7.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.06 earnings per share. On average, sell-side analysts forecast that AstraZeneca PLC will post 4.51 EPS for the current fiscal year.

About AstraZeneca

AstraZeneca PLC, a biopharmaceutical company, focuses on the discovery, development, manufacture, and commercialization of prescription medicines. The company's marketed products include Tagrisso, Imfinzi, Lynparza, Calquence, Enhertu, Orpathys, Truqap, Zoladex, Faslodex, Farxiga, Brilinta, Lokelma, Roxadustat, Andexxa, Crestor, Seloken, Onglyza, Bydureon, Fasenra, Breztri, Symbicort, Saphnelo, Tezspire, Pulmicort, Bevespi, and Daliresp for cardiovascular, renal, metabolism, and oncology.