AstraZeneca Plc $AZN Stake Trimmed by Park Avenue Securities LLC

Key Points

• Park Avenue Securities reduced its AstraZeneca stake by 41.8% in the third quarter, selling 22,494 shares and retaining 31,362 shares valued at approximately $5.1 million.
• AstraZeneca shares were trading at $174.58, up 3.0%, with a market capitalization of about $270.75 billion. The company recently exceeded quarterly earnings and revenue expectations, reporting $2.79 in adjusted EPS and $16.21 billion in revenue.
• Analyst sentiment remains favorable, with 16 Buy ratings and three Holds, producing a “Moderate Buy” consensus and an average price target of $206.67.

Park Avenue Securities LLC trimmed its position in shares of AstraZeneca Plc (NYSE:AZN - Free Report) by 41.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 31,362 shares of the company's stock after selling 22,494 shares during the quarter. Park Avenue Securities LLC's holdings in AstraZeneca were worth $5,115,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Mason & Associates LLC bought a new position in shares of AstraZeneca during the 3rd quarter worth approximately $218,000. Aries Wealth Management boosted its stake in shares of AstraZeneca by 1.3% in the 3rd quarter. Aries Wealth Management now owns 4,546 shares of the company's stock worth $741,000 after buying an additional 60 shares during the last quarter. Paladin Wealth LLC grew its holdings in shares of AstraZeneca by 76.0% in the third quarter. Paladin Wealth LLC now owns 2,916 shares of the company's stock valued at $471,000 after acquiring an additional 1,259 shares in the last quarter. Financial Management Professionals Inc. bought a new position in shares of AstraZeneca in the third quarter valued at approximately $72,000. Finally, Signaturefd LLC grew its holdings in shares of AstraZeneca by 3.3% in the third quarter. Signaturefd LLC now owns 36,720 shares of the company's stock valued at $5,929,000 after acquiring an additional 1,184 shares in the last quarter. Institutional investors own 20.35% of the company's stock.

AstraZeneca Trading Up 3.0%

NYSE:AZN opened at $174.58 on Friday. AstraZeneca Plc has a 12 month low of $153.41 and a 12 month high of $212.71. The company has a current ratio of 0.89, a quick ratio of 0.67 and a debt-to-equity ratio of 0.47. The firm's 50 day moving average is $164.05 and its 200 day moving average is $180.22. The stock has a market capitalization of $270.75 billion, a PE ratio of 17.46, a price-to-earnings-growth ratio of 1.31 and a beta of 0.27.

AstraZeneca (NYSE:AZN - Get Free Report) last announced its quarterly earnings data on Saturday, October 31st. 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 31.45% and a net margin of 17.02%. The business had revenue of $16.21 billion during the quarter, compared to analyst estimates of $16 billion. Sell-side analysts expect that AstraZeneca Plc will post 10.21 earnings per share for the current year.

Analysts Set New Price Targets

AZN has been the topic of a number of recent analyst reports. Citigroup reiterated a "buy" rating on shares of AstraZeneca in a report on Tuesday, October 6th. Wall Street Zen downgraded AstraZeneca from a "buy" rating to a "hold" rating in a research note on Sunday, October 11th. CICC Research started coverage on AstraZeneca in a research report on Sunday, August 23rd. They set an "outperform" rating and a $198.00 target price for the company. Weiss Ratings raised shares of AstraZeneca from a "hold (c+)" rating to a "buy (b-)" rating in a report on Monday. Finally, Royal Bank Of Canada initiated coverage on shares of AstraZeneca in a report on Tuesday, September 8th. They issued an "outperform" rating on the stock. Sixteen equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target 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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