Astrazeneca Plc $AZN Shares Sold by Generate Investment Management Ltd

Key Points

• Generate Investment Management Ltd. cut its AstraZeneca stake by 93.5% in the third quarter, selling 55,010 shares and retaining 3,828 shares valued at approximately $618,000.
• Analyst sentiment remains positive overall, with 15 Buy ratings, three Holds and one Sell; AstraZeneca has a consensus rating of “Moderate Buy” and an average price target of $206.67.
• AstraZeneca shares traded at $162.12, near the lower end of their 52-week range. The company’s latest quarterly results beat earnings expectations, reporting $2.63 in EPS and $15.38 billion in revenue, up 6.4% year over year.

Generate Investment Management Ltd trimmed its position in shares of Astrazeneca Plc (NYSE:AZN - Free Report) by 93.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,828 shares of the company's stock after selling 55,010 shares during the quarter. Generate Investment Management Ltd's holdings in Astrazeneca were worth $618,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in AZN. Mascoma Wealth Management LLC bought a new position in shares of Astrazeneca during the first quarter valued at about $26,000. MV Capital Management Inc. purchased a new stake in Astrazeneca in the 4th quarter valued at about $26,000. Roxbury Financial LLC purchased a new stake in Astrazeneca in the 2nd quarter valued at about $29,000. Reflection Asset Management bought a new position in shares of Astrazeneca during the 4th quarter worth approximately $31,000. Finally, Resources Management Corp CT ADV purchased a new position in Astrazeneca in the first quarter worth $35,000. Institutional investors own 20.35% of the company's stock.

Wall Street Analyst Weigh In

AZN has been the subject of a number of recent analyst reports. Citigroup restated a "buy" rating on shares of Astrazeneca in a research note on Tuesday, October 6th. Bank of America reaffirmed a "buy" rating on shares of Astrazeneca in a report on Wednesday, July 1st. HSBC lowered shares of Astrazeneca from a "buy" rating to a "hold" rating in a report on Monday, July 13th. Wall Street Zen lowered Astrazeneca from a "buy" rating to a "hold" rating in a research note on Sunday. Finally, Weiss Ratings cut Astrazeneca from a "buy (b-)" rating to a "hold (c+)" rating in a report on Tuesday, July 28th. Fifteen analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Astrazeneca currently has a consensus rating of "Moderate Buy" and an average price target of $206.67.

Astrazeneca Price Performance

AZN stock traded up $6.30 during midday trading on Wednesday, reaching $162.12. The company had a trading volume of 1,396,498 shares, compared to its average volume of 2,792,894. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.89 and a quick ratio of 0.67. Astrazeneca Plc has a 1 year low of $153.41 and a 1 year high of $212.71. The company has a market capitalization of $251.44 billion, a P/E ratio of 24.24, a P/E/G ratio of 1.34 and a beta of 0.27. The firm has a 50-day moving average price of $161.95 and a 200-day moving average price of $176.56.

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, beating the consensus estimate of $2.50 by $0.13. Astrazeneca had a net margin of 17.02% and a return on equity of 31.45%. The firm had revenue of $15.38 billion for the quarter, compared to analysts' expectations of $15.44 billion. During the same quarter last year, the company posted $2.17 EPS. The business's quarterly revenue was up 6.4% on a year-over-year basis. On average, research analysts anticipate that Astrazeneca Plc will post 9.38 earnings per share for the current fiscal year.

About Astrazeneca

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.

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