Amundi Purchases 1,036,635 Shares of Astrazeneca Plc $AZN

Key Points

• Amundi increased its AstraZeneca stake by 6.7% in the second quarter, purchasing 1,036,635 additional shares. Its holdings totaled 16.42 million shares valued at approximately $3.11 billion, representing about 1.06% of AstraZeneca.
• AstraZeneca reported quarterly earnings of $2.63 per share, exceeding analysts’ $2.50 estimate, while revenue rose 6.4% year over year to $15.38 billion, slightly below expectations.
• Analyst sentiment remains broadly positive, with 13 Buy ratings, two Holds and one Sell rating; the consensus price target is $206.67 versus the stock’s reported price of $162.62.

Amundi boosted its holdings in Astrazeneca Plc (NYSE:AZN - Free Report) by 6.7% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 16,422,784 shares of the company's stock after buying an additional 1,036,635 shares during the period. Astrazeneca accounts for approximately 0.8% of Amundi's holdings, making the stock its 18th biggest position. Amundi owned about 1.06% of Astrazeneca worth $3,114,088,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Triumph Capital Management purchased a new stake in Astrazeneca during the third quarter valued at $25,000. MV Capital Management Inc. purchased a new stake in Astrazeneca during the fourth quarter valued at approximately $26,000. Mascoma Wealth Management LLC bought a new stake in shares of Astrazeneca in the 1st quarter valued at approximately $26,000. Roxbury Financial LLC purchased a new position in shares of Astrazeneca in the 2nd quarter worth approximately $29,000. Finally, Reflection Asset Management purchased a new position in shares of Astrazeneca in the 4th quarter worth approximately $31,000. 20.35% of the stock is currently owned by hedge funds and other institutional investors.

Astrazeneca Stock Down 0.0%

Shares of Astrazeneca stock opened at $162.62 on Monday. The firm's 50 day moving average price is $169.21 and its 200-day moving average price is $183.86. The company has a market cap of $252.21 billion, a P/E ratio of 24.31, a PEG ratio of 1.27 and a beta of 0.25. The company has a quick ratio of 0.67, a current ratio of 0.89 and a debt-to-equity ratio of 0.47. Astrazeneca Plc has a 52-week low of $145.79 and a 52-week high of $212.71.

Astrazeneca (NYSE:AZN - Get Free Report) last posted its quarterly earnings data on Monday, July 27th. The company reported $2.63 earnings per share for the quarter, topping analysts' consensus estimates of $2.50 by $0.13. Astrazeneca had a return on equity of 31.45% and a net margin of 17.02%.The firm had revenue of $15.38 billion during the quarter, compared to analysts' expectations of $15.44 billion. During the same quarter last year, the firm earned $2.17 EPS. The business's quarterly revenue was up 6.4% on a year-over-year basis. On average, sell-side analysts predict that Astrazeneca Plc will post 10.19 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on AZN shares. Barclays restated a "buy" rating on shares of Astrazeneca in a research report on Monday, June 1st. The Goldman Sachs Group reissued a "buy" rating on shares of Astrazeneca in a research report on Wednesday, July 1st. JPMorgan Chase & Co. reaffirmed a "buy" rating on shares of Astrazeneca in a research note on Tuesday, June 30th. Wall Street Zen lowered Astrazeneca from a "buy" rating to a "hold" rating in a research note on Saturday, August 1st. Finally, Deutsche Bank Aktiengesellschaft reiterated a "sell" rating on shares of Astrazeneca in a research note on Tuesday, June 30th. Thirteen equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $206.67.

Astrazeneca 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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