7,500 Shares in Astrazeneca Plc $AZN Bought by Westport Asset Management Inc.

Key Points

• Westport Asset Management acquired 7,500 AstraZeneca shares during the second quarter, valued at approximately $1.42 million. Hedge funds and other institutional investors collectively own 20.35% of the company.
• AstraZeneca reported quarterly EPS of $2.63, exceeding estimates of $2.50, while revenue reached $15.38 billion and rose 6.4% year over year.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $211; the stock recently traded at $165.09, below its 50-day and 200-day moving averages.

Westport Asset Management Inc. acquired a new stake in Astrazeneca Plc (NYSE:AZN - Free Report) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 7,500 shares of the company's stock, valued at approximately $1,422,000.

Other hedge funds have also recently modified their holdings of the company. Mascoma Wealth Management LLC purchased a new position in Astrazeneca during the 1st quarter worth approximately $26,000. MV Capital Management Inc. acquired a new position in Astrazeneca in the 4th quarter valued at $26,000. Roxbury Financial LLC purchased a new position in Astrazeneca during the second quarter worth about $29,000. Reflection Asset Management purchased a new position in shares of Astrazeneca during the 4th quarter worth approximately $31,000. Finally, Resources Management Corp CT ADV purchased a new position in Astrazeneca in the first quarter worth $35,000. 20.35% of the stock is owned by hedge funds and other institutional investors.

Astrazeneca Stock Performance

NYSE:AZN opened at $165.09 on Thursday. Astrazeneca Plc has a 1-year low of $145.79 and a 1-year high of $212.71. The firm has a 50-day moving average of $172.93 and a two-hundred day moving average of $185.73. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.89 and a quick ratio of 0.67. The stock has a market cap of $256.03 billion, a P/E ratio of 24.68, a PEG ratio of 1.38 and a beta of 0.26.

Astrazeneca (NYSE:AZN - Get Free Report) last posted its quarterly earnings data on Monday, July 27th. The company reported $2.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.50 by $0.13. The company had revenue of $15.38 billion for the quarter, compared to the consensus estimate of $15.44 billion. Astrazeneca had a return on equity of 31.45% and a net margin of 17.02%.Astrazeneca's revenue for the quarter was up 6.4% compared to the same quarter last year. During the same period in the previous year, the business earned $2.17 EPS. On average, research analysts expect that Astrazeneca Plc will post 10.21 earnings per share for the current fiscal year.

Analysts Set New Price Targets

AZN has been the subject of a number of research analyst reports. Bank of America reaffirmed a "buy" rating on shares of Astrazeneca in a report on Wednesday, July 1st. Sanford C. Bernstein reissued a "buy" rating on shares of Astrazeneca in a research note on Monday, May 4th. Deutsche Bank Aktiengesellschaft reissued a "sell" rating on shares of Astrazeneca in a research note on Tuesday, June 30th. HSBC cut shares of Astrazeneca from a "buy" rating to a "hold" rating in a research report on Monday, July 13th. Finally, Barclays reiterated a "buy" rating on shares of Astrazeneca in a report on Monday, June 1st. Twelve analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $211.00.

About Astrazeneca

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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