Astrazeneca Plc $AZN Shares Sold by Bessemer Group Inc.

Key Points

• Bessemer Group Inc. cut its AstraZeneca stake by 58.3% in the first quarter, selling 59,917 shares and leaving it with 42,779 shares worth about $8.44 million.
• AstraZeneca’s stock was down slightly, opening at $168.81, while the company’s market value stood at about $261.8 billion and it traded below both its 50-day and 200-day moving averages.
• The company beat earnings expectations last quarter, reporting $2.58 EPS on revenue of $15.29 billion, and analysts remain broadly positive with a Moderate Buy consensus and a $211 average price target.

Bessemer Group Inc. reduced its position in Astrazeneca Plc (NYSE:AZN - Free Report) by 58.3% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 42,779 shares of the company's stock after selling 59,917 shares during the quarter. Bessemer Group Inc.'s holdings in Astrazeneca were worth $8,437,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Fisher Asset Management LLC grew its holdings in Astrazeneca by 2.1% in the 4th quarter. Fisher Asset Management LLC now owns 21,601,433 shares of the company's stock valued at $3,791,051,000 after buying an additional 438,709 shares in the last quarter. Franklin Resources Inc. boosted its position in shares of Astrazeneca by 2.3% during the 4th quarter. Franklin Resources Inc. now owns 20,157,744 shares of the company's stock valued at $3,537,684,000 after acquiring an additional 445,014 shares during the last quarter. Morgan Stanley boosted its position in shares of Astrazeneca by 3.2% during the 4th quarter. Morgan Stanley now owns 13,878,726 shares of the company's stock valued at $2,435,716,000 after acquiring an additional 432,939 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Astrazeneca by 546.1% in the first quarter. Bank of New York Mellon Corp now owns 6,667,812 shares of the company's stock valued at $1,315,026,000 after purchasing an additional 5,635,812 shares during the period. Finally, Citigroup Inc. grew its holdings in shares of Astrazeneca by 65.3% in the fourth quarter. Citigroup Inc. now owns 6,154,760 shares of the company's stock valued at $1,080,160,000 after purchasing an additional 2,431,890 shares during the period. Hedge funds and other institutional investors own 20.35% of the company's stock.

Astrazeneca Stock Down 0.1%

Shares of NYSE:AZN opened at $168.81 on Monday. The business has a 50-day moving average price of $182.16 and a 200 day moving average price of $188.44. The company has a current ratio of 0.91, a quick ratio of 0.71 and a debt-to-equity ratio of 0.52. The company has a market capitalization of $261.82 billion, a price-to-earnings ratio of 25.35, a PEG ratio of 1.38 and a beta of 0.24. Astrazeneca Plc has a 12-month low of $137.23 and a 12-month high of $212.71.

Astrazeneca (NYSE:AZN - Get Free Report) last posted its earnings results on Wednesday, April 29th. The company reported $2.58 EPS for the quarter, beating analysts' consensus estimates of $2.52 by $0.06. The company had revenue of $15.29 billion for the quarter, compared to analysts' expectations of $14.93 billion. Astrazeneca had a net margin of 17.19% and a return on equity of 30.86%. Sell-side analysts expect that Astrazeneca Plc will post 10.22 EPS for the current year.

Wall Street Analyst Weigh In

AZN has been the topic of a number of analyst reports. Bank of America reaffirmed a "buy" rating on shares of Astrazeneca in a research note on Wednesday, July 1st. Wall Street Zen raised shares of Astrazeneca from a "hold" rating to a "buy" rating in a research note on Saturday, May 2nd. Morgan Stanley restated an "overweight" rating on shares of Astrazeneca in a report on Wednesday, April 8th. The Goldman Sachs Group reaffirmed a "buy" rating on shares of Astrazeneca in a research report on Wednesday, July 1st. Finally, Sanford C. Bernstein reiterated a "buy" rating on shares of Astrazeneca in a report on Monday, May 4th. Thirteen investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Astrazeneca presently has a consensus rating of "Moderate Buy" and a consensus 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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