Astrazeneca Plc $AZN Shares Sold by Groupe la Francaise

Key Points

• Groupe la Française reduced its AstraZeneca stake by 17.7% in the second quarter, selling 173,876 shares and retaining 810,732 shares valued at approximately $151.6 million.
• Other institutional investors established new positions, while hedge funds and institutions collectively owned 20.35% of AstraZeneca.
• Analysts maintain a generally positive outlook, with 13 Buy, two Hold, and one Sell rating and an average price target of $206.67. AstraZeneca’s latest quarterly earnings beat estimates, with EPS of $2.63 and year-over-year revenue growth of 6.4%.

Groupe la Francaise cut its stake in shares of Astrazeneca Plc (NYSE:AZN - Free Report) by 17.7% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 810,732 shares of the company's stock after selling 173,876 shares during the period. Astrazeneca comprises about 1.8% of Groupe la Francaise's holdings, making the stock its 11th biggest holding. Groupe la Francaise owned 0.05% of Astrazeneca worth $151,604,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Professional Advisory Services Inc. acquired a new stake in shares of Astrazeneca in the second quarter worth approximately $30,241,000. Wealthcare Advisory Partners LLC acquired a new position in Astrazeneca in the 2nd quarter valued at $2,296,000. Westport Asset Management Inc. purchased a new position in Astrazeneca in the 2nd quarter valued at $1,422,000. Madison Asset Management LLC acquired a new stake in Astrazeneca during the 2nd quarter worth $4,041,000. Finally, Plato Investment Management Ltd acquired a new stake in Astrazeneca during the 2nd quarter worth $5,901,000. 20.35% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

AZN has been the subject of a number of recent research reports. JPMorgan Chase & Co. reiterated a "buy" rating on shares of Astrazeneca in a research report on Tuesday, June 30th. CICC Research assumed coverage on shares of Astrazeneca in a research note on Sunday, August 23rd. They issued an "outperform" rating and a $198.00 target price on the stock. Jefferies Financial Group restated a "buy" rating on shares of Astrazeneca in a research report on Friday, June 26th. Deutsche Bank Aktiengesellschaft reiterated a "sell" rating on shares of Astrazeneca in a research report on Tuesday, June 30th. Finally, Weiss Ratings lowered Astrazeneca from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Tuesday, July 28th. Thirteen equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $206.67.

Astrazeneca Stock Performance

Astrazeneca stock opened at $162.62 on Monday. The firm has a 50 day simple moving average of $169.21 and a 200-day simple moving average of $183.86. The stock has a market cap of $252.21 billion, a price-to-earnings ratio of 24.31, a price-to-earnings-growth ratio of 1.27 and a beta of 0.25. 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 $145.79 and a 1-year high of $212.71.

Astrazeneca (NYSE:AZN - Get Free Report) last issued its quarterly earnings results on Monday, July 27th. The company reported $2.63 earnings per share for the quarter, topping the consensus estimate of $2.50 by $0.13. The company had revenue of $15.38 billion for the quarter, compared to the consensus estimate of $15.44 billion. Astrazeneca had a return on equity of 31.45% and a net margin of 17.02%.Astrazeneca's revenue was up 6.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.17 EPS. On average, analysts expect that Astrazeneca Plc will post 10.19 EPS for the current year.

Astrazeneca Profile

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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