Astrazeneca Plc $AZN Holdings Lowered by Artemis Investment Management LLP

Key Points

• Artemis Investment Management reduced its AstraZeneca position by 8.9% in the third quarter, selling 113,340 shares and retaining 1.17 million shares worth approximately $189.9 million. Institutional investors collectively own 20.35% of the stock.
• AstraZeneca shares fell 1.3% to $158.03, near the lower end of their 52-week range. The company’s latest quarterly results exceeded EPS expectations, while revenue rose 6.4% year over year but slightly missed estimates.
• Analyst sentiment remains generally positive, with a “Moderate Buy” consensus and an average price target of $206.67, although some firms recently downgraded the stock to “Hold.”

Artemis Investment Management LLP lowered its position in Astrazeneca Plc (NYSE:AZN - Free Report) by 8.9% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,165,929 shares of the company's stock after selling 113,340 shares during the period. Astrazeneca makes up about 1.5% of Artemis Investment Management LLP's investment portfolio, making the stock its 10th biggest position. Artemis Investment Management LLP owned approximately 0.08% of Astrazeneca worth $189,920,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the company. Gradient Investments LLC increased its holdings in Astrazeneca by 26.1% during the 3rd quarter. Gradient Investments LLC now owns 136,395 shares of the company's stock valued at $22,025,000 after acquiring an additional 28,262 shares in the last quarter. Avidian Wealth Enterprises LLC lifted its holdings in shares of Astrazeneca by 12.1% in the third quarter. Avidian Wealth Enterprises LLC now owns 2,016 shares of the company's stock valued at $326,000 after purchasing an additional 218 shares in the last quarter. Valeo Financial Advisors LLC grew its position in shares of Astrazeneca by 10.0% in the third quarter. Valeo Financial Advisors LLC now owns 10,797 shares of the company's stock valued at $1,743,000 after purchasing an additional 980 shares during the last quarter. Veery Capital LLC grew its position in shares of Astrazeneca by 3.9% in the third quarter. Veery Capital LLC now owns 1,857 shares of the company's stock valued at $300,000 after purchasing an additional 70 shares during the last quarter. Finally, Venture Visionary Partners LLC increased its stake in shares of Astrazeneca by 2.2% during the 3rd quarter. Venture Visionary Partners LLC now owns 6,490 shares of the company's stock worth $1,048,000 after purchasing an additional 137 shares in the last quarter. 20.35% of the stock is owned by hedge funds and other institutional investors.

Astrazeneca Trading Down 1.3%

Astrazeneca stock traded down $2.09 during trading on Thursday, hitting $158.03. The company's stock had a trading volume of 1,276,490 shares, compared to its average volume of 2,790,168. The stock has a market capitalization of $245.09 billion, a price-to-earnings ratio of 23.63, a P/E/G ratio of 1.34 and a beta of 0.27. The stock's fifty day moving average is $162.41 and its 200 day moving average is $177.32. Astrazeneca Plc has a 1-year low of $153.41 and a 1-year high of $212.71. 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 earnings per share (EPS) for the quarter, topping 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 had a return on equity of 31.45% and a net margin of 17.02%.The firm's quarterly revenue was up 6.4% on a year-over-year basis. During the same period last year, the company earned $2.17 EPS. As a group, equities research analysts predict that Astrazeneca Plc will post 9.36 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the company. Weiss Ratings lowered Astrazeneca from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Tuesday, July 28th. The Goldman Sachs Group restated a "buy" rating on shares of Astrazeneca in a research report on Wednesday, July 1st. CICC Research began coverage on Astrazeneca in a research note on Sunday, August 23rd. They set an "outperform" rating and a $198.00 price objective on the stock. Jefferies Financial Group reiterated a "buy" rating on shares of Astrazeneca in a research report on Friday, June 26th. Finally, HSBC lowered shares of Astrazeneca from a "buy" rating to a "hold" rating in a report on Monday, July 13th. Fourteen research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $206.67.

Astrazeneca Profile

AstraZeneca PLC is a global biopharmaceutical company headquartered in Cambridge, United Kingdom. Its research, development and commercial operations focus on prescription medicines for serious and chronic diseases, with an emphasis on discovering and delivering innovative therapies rather than operating as a diversified healthcare conglomerate.

The company's principal therapeutic areas include oncology; cardiovascular, renal and metabolic diseases; respiratory and immunological conditions; and rare diseases.

Want to see what other hedge funds are holding AZN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Astrazeneca Plc (NYSE:AZN - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.