Rafferty Asset Management LLC Has $12.46 Million Holdings in AstraZeneca PLC $AZN

Key Points

• Rafferty Asset Management LLC has reduced its holdings in AstraZeneca PLC by 13.8%, owning 169,471 shares worth approximately $12.46 million after selling 27,186 shares in the first quarter.
• AstraZeneca reported earnings of $1.09 per share for the last quarter, meeting analyst expectations, with revenue up 16.1% year-over-year, amounting to $14.46 billion.
• Analysts have set a consensus price target of $86.00 for AstraZeneca shares, with a rating of "Moderate Buy" according to recent evaluations.

Rafferty Asset Management LLC decreased its holdings in shares of AstraZeneca PLC (NASDAQ:AZN - Free Report) by 13.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 169,471 shares of the company's stock after selling 27,186 shares during the period. Rafferty Asset Management LLC's holdings in AstraZeneca were worth $12,456,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in AZN. Confluence Investment Management LLC bought a new stake in shares of AstraZeneca during the first quarter valued at approximately $27,000. Larson Financial Group LLC grew its stake in shares of AstraZeneca by 297.9% during the first quarter. Larson Financial Group LLC now owns 386 shares of the company's stock valued at $28,000 after purchasing an additional 289 shares during the last quarter. FNY Investment Advisers LLC bought a new stake in shares of AstraZeneca during the first quarter valued at approximately $29,000. Costello Asset Management INC bought a new stake in shares of AstraZeneca during the first quarter valued at approximately $29,000. Finally, Banque Transatlantique SA bought a new stake in shares of AstraZeneca during the fourth quarter valued at approximately $26,000. Institutional investors own 20.35% of the company's stock.

AstraZeneca Trading Up 0.4%

Shares of NASDAQ AZN opened at $80.19 on Wednesday. AstraZeneca PLC has a fifty-two week low of $61.24 and a fifty-two week high of $87.25. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.86 and a quick ratio of 0.67. The firm has a market capitalization of $248.70 billion, a P/E ratio of 30.15, a P/E/G ratio of 1.47 and a beta of 0.37. The company's 50 day simple moving average is $74.18 and its 200 day simple moving average is $72.58.

AstraZeneca (NASDAQ:AZN - Get Free Report) last issued its earnings results on Tuesday, July 29th. The company reported $1.09 EPS for the quarter, meeting the consensus estimate of $1.09. AstraZeneca had a net margin of 14.68% and a return on equity of 32.84%. The firm had revenue of $14.46 billion during the quarter, compared to the consensus estimate of $14.08 billion. During the same quarter in the prior year, the firm earned $1.24 earnings per share. The business's quarterly revenue was up 16.1% on a year-over-year basis. On average, analysts predict that AstraZeneca PLC will post 4.51 EPS for the current year.

AstraZeneca Cuts Dividend

The company also recently announced a semi-annual dividend, which will be paid on Monday, September 8th. Shareholders of record on Friday, August 8th will be paid a $0.505 dividend. This represents a yield of 200.0%. The ex-dividend date of this dividend is Friday, August 8th. AstraZeneca's dividend payout ratio is presently 37.97%.

Wall Street Analysts Forecast Growth

Separately, Berenberg Bank set a $97.00 price target on shares of AstraZeneca in a research note on Wednesday, July 9th. Four equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, AstraZeneca currently has an average rating of "Moderate Buy" and an average target price of $86.00.

About AstraZeneca

AstraZeneca PLC, a biopharmaceutical company, focuses on the discovery, development, manufacture, and commercialization of prescription medicines. The company's marketed products include Tagrisso, Imfinzi, Lynparza, Calquence, Enhertu, Orpathys, Truqap, Zoladex, Faslodex, Farxiga, Brilinta, Lokelma, Roxadustat, Andexxa, Crestor, Seloken, Onglyza, Bydureon, Fasenra, Breztri, Symbicort, Saphnelo, Tezspire, Pulmicort, Bevespi, and Daliresp for cardiovascular, renal, metabolism, and oncology.