Rafferty Asset Management LLC Has $12.46 Million Stock Position 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 reduced its holdings in AstraZeneca PLC (NASDAQ:AZN - Free Report) by 13.8% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 169,471 shares of the company's stock after selling 27,186 shares during the quarter. Rafferty Asset Management LLC's holdings in AstraZeneca were worth $12,456,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Confluence Investment Management LLC bought a new position in shares of AstraZeneca in the 1st quarter worth about $27,000. Larson Financial Group LLC increased its holdings in shares of AstraZeneca by 297.9% in the 1st quarter. Larson Financial Group LLC now owns 386 shares of the company's stock worth $28,000 after acquiring an additional 289 shares during the period. FNY Investment Advisers LLC acquired a new stake in shares of AstraZeneca in the 1st quarter worth about $29,000. Costello Asset Management INC acquired a new stake in shares of AstraZeneca in the 1st quarter worth about $29,000. Finally, Banque Transatlantique SA acquired a new stake in shares of AstraZeneca in the 4th quarter worth about $26,000. 20.35% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

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

AstraZeneca Price Performance

AstraZeneca stock traded down $0.09 during trading hours on Monday, hitting $79.90. 2,824,737 shares of the company traded hands, compared to its average volume of 3,753,583. The firm has a market cap of $247.80 billion, a P/E ratio of 30.04, a P/E/G ratio of 1.47 and a beta of 0.37. The company has a quick ratio of 0.67, a current ratio of 0.86 and a debt-to-equity ratio of 0.55. The firm's 50-day simple moving average is $73.80 and its two-hundred day simple moving average is $72.48. AstraZeneca PLC has a 1-year low of $61.24 and a 1-year high of $87.68.

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

AstraZeneca Cuts Dividend

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

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.