1,070,570 Shares in Astrazeneca Plc $AZN Acquired by Public Employees Retirement System of Ohio

Key Points

• Public Employees Retirement System of Ohio acquired 1,070,570 AstraZeneca shares worth approximately $201 million, making the stock its 25th-largest holding and representing about 0.07% of AstraZeneca.
• AstraZeneca reported quarterly earnings of $2.63 per share, exceeding estimates of $2.50, while revenue rose 6.4% year over year to $15.38 billion, slightly below expectations.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $206.67 versus the reported share price of $164.47.

Public Employees Retirement System of Ohio bought a new stake in Astrazeneca Plc (NYSE:AZN - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 1,070,570 shares of the company's stock, valued at approximately $201,001,000. Astrazeneca makes up approximately 0.6% of Public Employees Retirement System of Ohio's holdings, making the stock its 25th biggest position. Public Employees Retirement System of Ohio owned approximately 0.07% of Astrazeneca as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently bought and sold shares of the stock. Ancora Advisors LLC acquired a new stake in shares of Astrazeneca during the second quarter valued at $151,000. Manning & Napier Advisors LLC acquired a new position in Astrazeneca in the 2nd quarter valued at about $153,000. Pinnacle Holdings LLC acquired a new position in Astrazeneca in the 2nd quarter valued at about $76,000. Westport Asset Management Inc. purchased a new position in Astrazeneca in the 2nd quarter valued at about $1,422,000. Finally, Madison Asset Management LLC purchased a new position in Astrazeneca in the 2nd quarter valued at about $4,041,000. Institutional investors and hedge funds own 20.35% of the company's stock.

Astrazeneca Price Performance

AZN opened at $164.47 on Friday. Astrazeneca Plc has a 1 year low of $145.79 and a 1 year high of $212.71. The company's 50 day simple moving average is $171.47 and its 200 day simple moving average is $184.95. The stock has a market capitalization of $255.08 billion, a PE ratio of 24.58, a P/E/G ratio of 1.44 and a beta of 0.26. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.67 and a current ratio of 0.89.

Astrazeneca (NYSE:AZN - Get Free Report) last issued its quarterly earnings results on Monday, July 27th. The company reported $2.63 EPS for the quarter, topping the consensus estimate of $2.50 by $0.13. Astrazeneca had a net margin of 17.02% and a return on equity of 31.45%. The firm had revenue of $15.38 billion during the quarter, compared to analyst estimates of $15.44 billion. During the same quarter in the prior year, the business posted $2.17 earnings per share. Astrazeneca's revenue for the quarter was up 6.4% compared to the same quarter last year. As a group, sell-side analysts expect that Astrazeneca Plc will post 10.21 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on AZN shares. Bank of America reiterated a "buy" rating on shares of Astrazeneca in a report on Wednesday, July 1st. The Goldman Sachs Group restated a "buy" rating on shares of Astrazeneca in a research report on Wednesday, July 1st. CICC Research started coverage on shares of Astrazeneca in a research note on Sunday. They issued an "outperform" rating and a $198.00 target price for the company. HSBC downgraded Astrazeneca from a "buy" rating to a "hold" rating in a report on Monday, July 13th. Finally, Sanford C. Bernstein reissued a "buy" rating on shares of Astrazeneca in a research note on Monday, May 4th. Thirteen equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $206.67.

Astrazeneca Company Profile

AstraZeneca plc is a global 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 positions itself as R&D-driven, investing in discovery science, clinical development and regulatory processes to bring new therapies to market.

The company’s commercial portfolio and late-stage pipeline emphasize oncology, cardiovascular, renal and metabolic (CVRM) diseases, and respiratory and immunology.

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