AstraZeneca Plc $AZN Position Boosted by AEGON ASSET MANAGEMENT UK Plc

Key Points

• AEGON Asset Management UK increased its AstraZeneca stake by 2.2%, adding 42,690 shares to hold about 1.95 million shares worth roughly $317.8 million.
• Analysts have a Moderate Buy consensus on the stock, with a $206.67 average price target; 16 analysts rate it Buy and three rate it Hold.
• AstraZeneca’s latest quarterly results beat expectations: EPS was $2.79 versus the $2.60 estimate, while revenue reached $16.21 billion, up 6.5% year over year.

AEGON ASSET MANAGEMENT UK Plc raised its stake in AstraZeneca Plc (NYSE:AZN - Free Report) by 2.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,947,801 shares of the company's stock after buying an additional 42,690 shares during the quarter. AstraZeneca comprises about 3.3% of AEGON ASSET MANAGEMENT UK Plc's portfolio, making the stock its 7th biggest holding. AEGON ASSET MANAGEMENT UK Plc owned about 0.13% of AstraZeneca worth $317,752,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently made changes to their positions in AZN. Professional Advisory Services Inc. acquired a new stake in AstraZeneca in the second quarter valued at $30,241,000. Wealthcare Advisory Partners LLC purchased a new position in shares of AstraZeneca in the 2nd quarter valued at about $2,296,000. Andra AP fonden increased its holdings in shares of AstraZeneca by 122.9% in the 2nd quarter. Andra AP fonden now owns 526,714 shares of the company's stock valued at $99,876,000 after acquiring an additional 290,412 shares during the last quarter. International Assets Investment Management LLC raised its position in shares of AstraZeneca by 1,564.8% during the 3rd quarter. International Assets Investment Management LLC now owns 28,785 shares of the company's stock worth $4,648,000 after acquiring an additional 27,056 shares in the last quarter. Finally, Westport Asset Management Inc. purchased a new stake in AstraZeneca during the second quarter worth approximately $1,422,000. Hedge funds and other institutional investors own 20.35% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. Royal Bank Of Canada assumed coverage on AstraZeneca in a report on Tuesday, September 8th. They issued an "outperform" rating for the company. Nordea Equity Research raised shares of AstraZeneca from a "sell" rating to a "buy" rating in a report on Tuesday, October 13th. HSBC downgraded shares of AstraZeneca from a "buy" rating to a "hold" rating in a research report on Monday, July 13th. Weiss Ratings upgraded shares of AstraZeneca from a "hold (c+)" rating to a "buy (b-)" rating in a report on Monday, October 26th. Finally, CICC Research initiated coverage on shares of AstraZeneca in a report on Sunday, August 23rd. They issued an "outperform" rating and a $198.00 target price for the company. Sixteen investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $206.67.

AstraZeneca Trading Up 1.5%

NYSE AZN opened at $189.18 on Tuesday. The firm's fifty day moving average is $167.01 and its two-hundred day moving average is $180.25. AstraZeneca Plc has a one year low of $153.41 and a one year high of $212.71. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.67 and a current ratio of 1.01. The firm has a market cap of $293.40 billion, a PE ratio of 18.68, a P/E/G ratio of 1.47 and a beta of 0.24.

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

AstraZeneca Company 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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