AstraZeneca Plc $AZN Stock: M&G PLC Grows Position

Key Points

• M&G PLC increased its AstraZeneca stake by 14.3% in the third quarter, adding 642,497 shares to hold about 5.13 million shares, valued at roughly $802 million.
• AstraZeneca reported quarterly EPS of $2.79, above the $2.60 analyst consensus, while revenue of $16.21 billion also topped estimates and rose 6.5% year over year.
• Analysts have a consensus “Moderate Buy” rating and an average price target of $206.67; 16 rate the stock Buy and three rate it Hold.

M&G PLC increased its holdings in shares of AstraZeneca Plc (NYSE:AZN - Free Report) by 14.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 5,125,209 shares of the company's stock after buying an additional 642,497 shares during the quarter. AstraZeneca comprises approximately 4.0% of M&G PLC's portfolio, making the stock its 3rd biggest holding. M&G PLC owned approximately 0.33% of AstraZeneca worth $801,675,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in AZN. Aries Wealth Management increased its stake in shares of AstraZeneca by 1.3% during the 3rd quarter. Aries Wealth Management now owns 4,546 shares of the company's stock valued at $741,000 after acquiring an additional 60 shares during the last quarter. Triumph Capital Management lifted its holdings in shares of AstraZeneca by 32.6% during the 3rd quarter. Triumph Capital Management now owns 252 shares of the company's stock worth $41,000 after acquiring an additional 62 shares during the period. Claro Advisors Inc. boosted its position in shares of AstraZeneca by 5.2% in the third quarter. Claro Advisors Inc. now owns 1,247 shares of the company's stock worth $201,000 after acquiring an additional 62 shares during the last quarter. Riversedge Advisors LLC boosted its position in shares of AstraZeneca by 2.9% in the third quarter. Riversedge Advisors LLC now owns 2,347 shares of the company's stock worth $379,000 after acquiring an additional 67 shares during the last quarter. Finally, Veery Capital LLC boosted its position in shares of AstraZeneca by 3.9% in the third quarter. Veery Capital LLC now owns 1,857 shares of the company's stock worth $300,000 after acquiring an additional 70 shares during the last quarter. 20.35% of the stock is owned by institutional investors and hedge funds.

AstraZeneca Price Performance

AZN opened at $189.18 on Tuesday. AstraZeneca Plc has a 52-week low of $153.41 and a 52-week high of $212.71. The company has a 50 day moving average of $167.01 and a two-hundred day moving average of $180.25. The company has a market cap of $293.40 billion, a P/E ratio of 26.76, a P/E/G ratio of 1.47 and a beta of 0.24. The company has a quick ratio of 0.67, a current ratio of 1.01 and a debt-to-equity ratio of 0.51.

AstraZeneca (NYSE:AZN - Get Free Report) last issued its earnings results on Friday, October 30th. The company reported $2.79 EPS for the quarter, beating analysts' consensus estimates of $2.60 by $0.19. The business had revenue of $16.21 billion for the quarter, compared to the consensus estimate of $16 billion. AstraZeneca had a net margin of 17.68% and a return on equity of 31.85%. The business's revenue for the quarter was up 6.5% compared to the same quarter last year. During the same quarter last year, the firm posted $2.38 EPS. On average, analysts expect that AstraZeneca Plc will post 10.22 earnings per share for the current year.

Wall Street Analysts Forecast Growth

AZN has been the subject of several research analyst reports. Royal Bank Of Canada began coverage on shares of AstraZeneca in a research report on Tuesday, September 8th. They set an "outperform" rating for the company. CICC Research assumed coverage on shares of AstraZeneca in a report on Sunday, August 23rd. They issued an "outperform" rating and a $198.00 price target on the stock. Weiss Ratings raised shares of AstraZeneca from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Monday, October 26th. Nordea Equity Research upgraded AstraZeneca from a "sell" rating to a "buy" rating in a report on Tuesday, October 13th. Finally, Wall Street Zen raised AstraZeneca from a "hold" rating to a "buy" rating in a research report on Saturday, October 31st. Sixteen equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $206.67.

About AstraZeneca

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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