Crestline Management LP Reduces Holdings in AstraZeneca PLC (NASDAQ:AZN)

Crestline Management LP decreased its holdings in AstraZeneca PLC (NASDAQ:AZN - Free Report) by 39.1% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 37,335 shares of the company's stock after selling 23,934 shares during the quarter. Crestline Management LP's holdings in AstraZeneca were worth $2,446,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in AZN. Banque Transatlantique SA bought a new position in AstraZeneca during the fourth quarter worth $26,000. Albion Financial Group UT boosted its position in AstraZeneca by 68.9% in the fourth quarter. Albion Financial Group UT now owns 608 shares of the company's stock worth $40,000 after purchasing an additional 248 shares during the last quarter. Crews Bank & Trust purchased a new stake in shares of AstraZeneca during the 4th quarter worth approximately $55,000. Golden State Wealth Management LLC bought a new stake in AstraZeneca in the 4th quarter valued at about $55,000. Finally, Newbridge Financial Services Group Inc. bought a new stake in shares of AstraZeneca in the fourth quarter valued at approximately $55,000. 20.35% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

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

AstraZeneca Price Performance

AZN traded down $1.49 on Tuesday, reaching $67.46. The company had a trading volume of 2,365,578 shares, compared to its average volume of 5,138,511. The company has a market cap of $209.21 billion, a price-to-earnings ratio of 29.85, a P/E/G ratio of 1.42 and a beta of 0.40. 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 52-week low of $61.24 and a 52-week high of $87.68. The business has a 50 day simple moving average of $71.15 and a 200 day simple moving average of $69.61.

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

AstraZeneca Profile

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.