11,643 Shares of AstraZeneca Plc $AZN Acquired by ARGA Investment Management LP

Key Points

• ARGA Investment Management opened a new AstraZeneca position, buying 11,643 shares worth approximately $1.896 million in the third quarter. Institutional investors collectively own 20.35% of the stock.
• Analyst sentiment is broadly positive: 16 analysts rate AZN a Buy and three a Hold, giving it a “Moderate Buy” consensus and an average price target of $206.67.
• AstraZeneca beat quarterly earnings expectations, reporting $2.79 per share versus the $2.60 consensus, while revenue rose 6.5% year over year to $16.21 billion.

ARGA Investment Management LP purchased a new stake in AstraZeneca Plc (NYSE:AZN - Free Report) during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 11,643 shares of the company's stock, valued at approximately $1,896,000.

A number of other hedge funds have also bought and sold shares of AZN. Gerber Kawasaki Wealth & Investment Management acquired a new position in AstraZeneca in the third quarter valued at about $212,000. True Freedom Investing LLC grew its stake in AstraZeneca by 6.3% during the third quarter. True Freedom Investing LLC now owns 35,253 shares of the company's stock worth $5,692,000 after buying an additional 2,080 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich acquired a new stake in AstraZeneca during the third quarter worth about $314,403,000. Pinkerton Wealth LLC increased its holdings in AstraZeneca by 4.7% in the 3rd quarter. Pinkerton Wealth LLC now owns 35,873 shares of the company's stock valued at $5,792,000 after buying an additional 1,620 shares during the period. Finally, Hoey Investments Inc. raised its position in shares of AstraZeneca by 327.3% in the 3rd quarter. Hoey Investments Inc. now owns 329 shares of the company's stock valued at $53,000 after buying an additional 252 shares in the last quarter. 20.35% of the stock is owned by institutional investors.

Analyst Ratings Changes

AZN has been the subject of several recent analyst reports. Wall Street Zen upgraded AstraZeneca from a "hold" rating to a "buy" rating in a research report on Saturday. Nordea Equity Research upgraded AstraZeneca from a "sell" rating to a "buy" rating in a research report on Tuesday, October 13th. Royal Bank Of Canada began coverage on AstraZeneca in a research report on Tuesday, September 8th. They issued an "outperform" rating on the stock. Deutsche Bank Aktiengesellschaft raised AstraZeneca from a "sell" rating to a "hold" rating in a research note on Tuesday, September 15th. Finally, Citigroup reissued a "buy" rating on shares of AstraZeneca in a report on Tuesday, October 6th. Sixteen research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $206.67.

AstraZeneca Stock Performance

Shares of AZN stock opened at $183.79 on Wednesday. The business's 50 day simple moving average is $165.24 and its 200 day simple moving average is $180.16. AstraZeneca Plc has a one year low of $153.41 and a one year high of $212.71. The stock has a market capitalization of $285.04 billion, a PE ratio of 18.44, a PEG ratio of 1.45 and a beta of 0.24. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.01 and a quick ratio of 0.67.

AstraZeneca (NYSE:AZN - Get Free Report) last posted its quarterly earnings data on Friday, October 30th. The company reported $2.79 earnings per share for the quarter, topping the consensus estimate of $2.60 by $0.19. AstraZeneca had a net margin of 17.68% and a return on equity of 31.85%. The company had revenue of $16.21 billion during the quarter, compared to analysts' expectations of $16 billion. During the same period in the prior year, the company posted $2.38 earnings per share. AstraZeneca's revenue for the quarter was up 6.5% compared to the same quarter last year. As a group, research analysts forecast that AstraZeneca Plc will post 10.22 earnings per share for the current year.

AstraZeneca Profile

AstraZeneca plc is a global, science-led biopharmaceutical company headquartered in Cambridge, United Kingdom. The company discovers, develops and commercializes prescription medicines, with a focus on oncology, biopharmaceuticals and rare diseases. Its research and commercial operations serve patients and healthcare systems across more than 100 countries.

AstraZeneca’s portfolio includes medicines for cancer, respiratory and immune-mediated conditions, cardiovascular, renal and metabolic diseases, and rare disorders.

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