43,432 AstraZeneca Plc $AZN Shares Purchased by Generali Asset Management SPA SGR

Key Points

• Generali Asset Management increased its AstraZeneca stake by 5.4% in the third quarter, purchasing 43,432 shares to hold 848,365 shares worth approximately $137 million.
• Several major institutional investors also expanded their AZN positions, with hedge funds and other institutions collectively owning 20.35% of AstraZeneca.
• AstraZeneca recently beat quarterly EPS estimates, while analysts maintain a “Moderate Buy” consensus and an average price target of $206.67, above the stock’s reported $170.04 price.

Generali Asset Management SPA SGR boosted its position in shares of AstraZeneca Plc (NYSE:AZN - Free Report) by 5.4% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 848,365 shares of the company's stock after buying an additional 43,432 shares during the quarter. AstraZeneca makes up 2.4% of Generali Asset Management SPA SGR's holdings, making the stock its 7th biggest position. Generali Asset Management SPA SGR owned about 0.05% of AstraZeneca worth $136,985,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in AZN. Amundi boosted its stake in shares of AstraZeneca by 6.7% during the 2nd quarter. Amundi now owns 16,422,784 shares of the company's stock worth $3,114,088,000 after acquiring an additional 1,036,635 shares in the last quarter. Janus Henderson Group PLC boosted its position in AstraZeneca by 889.9% during the first quarter. Janus Henderson Group PLC now owns 11,949,424 shares of the company's stock worth $2,319,947,000 after purchasing an additional 10,742,268 shares in the last quarter. Royal Bank of Canada boosted its position in AstraZeneca by 208.6% during the first quarter. Royal Bank of Canada now owns 10,386,455 shares of the company's stock worth $2,048,417,000 after purchasing an additional 7,021,126 shares in the last quarter. Rathbones Group PLC grew its holdings in AstraZeneca by 106,772.0% in the first quarter. Rathbones Group PLC now owns 8,054,943 shares of the company's stock valued at $1,560,419,000 after purchasing an additional 8,047,406 shares during the period. Finally, Bank of New York Mellon Corp grew its holdings in AstraZeneca by 546.1% in the first quarter. Bank of New York Mellon Corp now owns 6,667,812 shares of the company's stock valued at $1,315,026,000 after purchasing an additional 5,635,812 shares during the period. Hedge funds and other institutional investors own 20.35% of the company's stock.

AstraZeneca Trading Down 1.2%

NYSE:AZN opened at $170.04 on Wednesday. AstraZeneca Plc has a 12 month low of $153.41 and a 12 month high of $212.71. The stock has a 50 day moving average of $163.68 and a two-hundred day moving average of $180.39. The firm has a market cap of $263.71 billion, a P/E ratio of 25.42 and a beta of 0.27.

AstraZeneca (NYSE:AZN - Get Free Report) last announced its earnings results on Monday, July 27th. The company reported $2.63 EPS for the quarter, beating analysts' consensus estimates of $2.50 by $0.13. The firm had revenue of $15.38 billion for the quarter, compared to analyst estimates of $15.44 billion. AstraZeneca's revenue was up 6.4% compared to the same quarter last year. During the same period in the previous year, the company earned $2.17 EPS. On average, research analysts forecast that AstraZeneca Plc will post 10.23 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms have recently commented on AZN. Zacks Research upgraded AstraZeneca from a "strong sell" rating to a "hold" rating in a research report on Tuesday, October 13th. Nordea Equity Research upgraded AstraZeneca from a "sell" rating to a "buy" rating in a research report on Tuesday, October 13th. The Goldman Sachs Group reiterated a "buy" rating on shares of AstraZeneca in a research report on Wednesday, July 1st. Royal Bank Of Canada started coverage on shares of AstraZeneca in a research note on Tuesday, September 8th. They issued an "outperform" rating on the stock. Finally, Deutsche Bank Aktiengesellschaft raised shares of AstraZeneca from a "sell" rating to a "hold" rating in a report on Tuesday, September 15th. Sixteen research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $206.67.

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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