AstraZeneca Plc $AZN Stake Lowered by Allspring Global Investments Holdings LLC

Key Points

• Allspring Global Investments cut its AstraZeneca stake by 49.2% in the third quarter, selling 402,568 shares and ending the period with 415,667 shares valued at about $65.8 million.
• AstraZeneca beat quarterly earnings expectations, reporting EPS of $2.79 versus $2.60 forecast, while revenue rose 6.5% year over year to $16.21 billion.
• Analyst sentiment is positive: 16 analysts rate the stock Buy and three rate it Hold, giving it a consensus “Moderate Buy” rating and a $206.67 price target.

Allspring Global Investments Holdings LLC trimmed its holdings in shares of AstraZeneca Plc (NYSE:AZN - Free Report) by 49.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 415,667 shares of the company's stock after selling 402,568 shares during the period. Allspring Global Investments Holdings LLC's holdings in AstraZeneca were worth $65,814,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Amundi boosted its stake in AstraZeneca by 6.7% in the second quarter. Amundi now owns 16,422,784 shares of the company's stock valued at $3,114,088,000 after acquiring an additional 1,036,635 shares during the last quarter. Janus Henderson Group PLC grew its holdings in AstraZeneca by 889.9% during the 1st quarter. Janus Henderson Group PLC now owns 11,949,424 shares of the company's stock worth $2,319,947,000 after acquiring an additional 10,742,268 shares during the period. Royal Bank of Canada grew its holdings in AstraZeneca by 208.6% during the 1st quarter. Royal Bank of Canada now owns 10,386,455 shares of the company's stock worth $2,048,417,000 after acquiring an additional 7,021,126 shares during the period. Rathbones Group PLC raised its position in shares of AstraZeneca by 106,772.0% during the 1st quarter. Rathbones Group PLC now owns 8,054,943 shares of the company's stock valued at $1,560,419,000 after acquiring an additional 8,047,406 shares during the last quarter. Finally, Allianz Asset Management GmbH raised its position in shares of AstraZeneca by 2.5% during the 2nd quarter. Allianz Asset Management GmbH now owns 6,690,300 shares of the company's stock valued at $1,252,044,000 after acquiring an additional 160,339 shares during the last quarter. 20.35% of the stock is currently owned by institutional investors and hedge funds.

AstraZeneca Stock Down 1.4%

Shares of AstraZeneca stock opened at $186.74 on Wednesday. The company has a market capitalization of $289.61 billion, a P/E ratio of 18.71, a price-to-earnings-growth ratio of 1.47 and a beta of 0.24. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.01 and a quick ratio of 0.79. The business has a 50-day moving average of $167.50 and a two-hundred day moving average of $180.26. AstraZeneca Plc has a 1 year low of $153.41 and a 1 year high of $212.71.

AstraZeneca (NYSE:AZN - Get Free Report) last released its quarterly earnings data on Friday, October 30th. The company reported $2.79 earnings per share for the quarter, beating the consensus estimate of $2.60 by $0.19. AstraZeneca had a return on equity of 31.85% and a net margin of 17.68%. The business had revenue of $16.21 billion for the quarter, compared to analysts' expectations of $16 billion. During the same quarter in the previous year, the business posted $2.38 EPS. AstraZeneca's revenue for the quarter was up 6.5% on a year-over-year basis. As a group, equities analysts predict that AstraZeneca Plc will post 10.22 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on AZN. CICC Research started coverage on AstraZeneca in a research note on Sunday, August 23rd. They issued an "outperform" rating and a $198.00 price target on the stock. Royal Bank Of Canada initiated coverage on AstraZeneca in a research note on Tuesday, September 8th. They set an "outperform" rating for the company. Wall Street Zen upgraded AstraZeneca from a "hold" rating to a "buy" rating in a report on Saturday, October 31st. Deutsche Bank Aktiengesellschaft raised AstraZeneca from a "sell" rating to a "hold" rating in a research note on Tuesday, September 15th. Finally, Nordea Equity Research upgraded AstraZeneca from a "sell" rating to a "buy" rating in a report on Tuesday, October 13th. Sixteen research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $206.67.

AstraZeneca Profile

AstraZeneca plc is a global, science-led biopharmaceutical company headquartered in Cambridge, United Kingdom. The company discovers, develops and commercializes prescription medicines, with a focus on oncology, biopharmaceuticals and rare diseases. Its research and commercial operations serve patients and healthcare systems across more than 100 countries. AstraZeneca’s portfolio includes medicines for cancer, respiratory and immune-mediated conditions, cardiovascular, renal and metabolic diseases, and rare disorders.

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