Astrazeneca Plc $AZN Shares Acquired by Envestnet Asset Management Inc.

Key Points

• Envestnet Asset Management increased its AstraZeneca stake by 0.5% in the second quarter, acquiring 10,458 shares to hold 2.28 million shares worth approximately $431.7 million.
• Institutional investors and hedge funds own 20.35% of AstraZeneca. Analyst sentiment remains a “Moderate Buy”, with 14 Buy, three Hold, and one Sell rating and a consensus price target of $206.67.
• AstraZeneca reported quarterly EPS of $2.63, beating estimates of $2.50, while revenue rose 6.4% year over year to $15.38 billion. Shares recently opened at $163.59, below their 52-week high of $212.71.

Envestnet Asset Management Inc. lifted its stake in shares of Astrazeneca Plc (NYSE:AZN - Free Report) by 0.5% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,281,431 shares of the company's stock after purchasing an additional 10,458 shares during the period. Envestnet Asset Management Inc. owned about 0.15% of Astrazeneca worth $431,737,000 as of its most recent filing with the SEC.

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

Analyst Ratings Changes

Several research analysts have recently commented on AZN shares. Zacks Research lowered shares of Astrazeneca from a "hold" rating to a "strong sell" rating in a report on Monday, September 14th. Royal Bank Of Canada started coverage on shares of Astrazeneca in a report on Tuesday, September 8th. They issued an "outperform" rating on the stock. Weiss Ratings downgraded Astrazeneca from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Tuesday, July 28th. Bank of America reaffirmed a "buy" rating on shares of Astrazeneca in a report on Wednesday, July 1st. Finally, The Goldman Sachs Group reiterated a "buy" rating on shares of Astrazeneca in a research report on Wednesday, July 1st. Fourteen investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, Astrazeneca presently has an average rating of "Moderate Buy" and a consensus price target of $206.67.

Astrazeneca Price Performance

Shares of NYSE:AZN opened at $163.59 on Thursday. The firm's 50 day moving average is $164.01 and its two-hundred day moving average is $179.63. Astrazeneca Plc has a 52 week low of $145.79 and a 52 week high of $212.71. The firm has a market capitalization of $253.71 billion, a P/E ratio of 24.45, a PEG ratio of 1.42 and a beta of 0.25. The company has a current ratio of 0.89, a quick ratio of 0.67 and a debt-to-equity ratio of 0.47.

Astrazeneca (NYSE:AZN - Get Free Report) last posted its earnings results on Monday, July 27th. The company reported $2.63 EPS for the quarter, beating the consensus estimate 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 for the quarter, compared to analysts' expectations of $15.44 billion. During the same period last year, the firm earned $2.17 EPS. The firm's revenue was up 6.4% compared to the same quarter last year. Analysts anticipate that Astrazeneca Plc will post 9.37 earnings per share for the current year.

About Astrazeneca

AstraZeneca plc is a global biopharmaceutical company focused on the discovery, development and commercialization of prescription medicines. Its principal therapeutic areas include oncology, cardiovascular, renal and metabolic diseases, respiratory and immunology conditions, and rare diseases.

The company's portfolio includes medicines such as Tagrisso, Imfinzi and Lynparza for cancer; Farxiga for cardiovascular, kidney and metabolic conditions; Fasenra for severe asthma; and Symbicort for respiratory disease.

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