AstraZeneca Plc $AZN Stock Purchased by Fisher Asset Management LLC

Key Points

• Fisher Asset Management increased its AstraZeneca stake by 3.2% in the third quarter, adding 355,456 shares to hold 11.5 million shares, valued at about $1.86 billion.
• AstraZeneca beat quarterly earnings and revenue estimates, reporting EPS of $2.79 and revenue of $16.21 billion; revenue rose 6.5% year over year.
• Analysts give the stock a Moderate Buy consensus rating, with an average price target of $206.67; 16 analysts rate it Buy and three rate it Hold.

Fisher Asset Management LLC lifted its stake in AstraZeneca Plc (NYSE:AZN - Free Report) by 3.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 11,501,748 shares of the company's stock after buying an additional 355,456 shares during the period. Fisher Asset Management LLC owned approximately 0.74% of AstraZeneca worth $1,857,187,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of AZN. Professional Advisory Services Inc. purchased a new stake in shares of AstraZeneca during the second quarter valued at approximately $30,241,000. Wealthcare Advisory Partners LLC bought a new position in shares of AstraZeneca in the second quarter worth approximately $2,296,000. Andra AP fonden increased its stake in shares of AstraZeneca by 122.9% in the second quarter. Andra AP fonden now owns 526,714 shares of the company's stock worth $99,876,000 after buying an additional 290,412 shares during the period. International Assets Investment Management LLC increased its stake in shares of AstraZeneca by 1,564.8% in the third quarter. International Assets Investment Management LLC now owns 28,785 shares of the company's stock worth $4,648,000 after buying an additional 27,056 shares during the period. Finally, Westport Asset Management Inc. purchased a new position in shares of AstraZeneca in the second quarter worth $1,422,000. Institutional investors own 20.35% of the company's stock.

AstraZeneca Price Performance

AZN opened at $184.46 on Friday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.79 and a current ratio of 1.01. The stock has a market capitalization of $286.08 billion, a PE ratio of 26.09, a price-to-earnings-growth ratio of 1.44 and a beta of 0.24. The stock's 50 day moving average price is $168.42 and its 200-day moving average price is $180.21. AstraZeneca Plc has a 52-week low of $153.41 and a 52-week high of $212.71.

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

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on AZN shares. Royal Bank Of Canada assumed coverage on shares of AstraZeneca in a research report on Tuesday, September 8th. They set an "outperform" rating for the company. Deutsche Bank upgraded shares of AstraZeneca from a "sell" rating to a "hold" rating in a research report on Tuesday, September 15th. Citigroup reaffirmed a "buy" rating on shares of AstraZeneca in a research note on Tuesday, October 6th. Weiss Ratings upgraded shares of AstraZeneca from a "hold (c+)" rating to a "buy (b-)" rating in a report on Monday, October 26th. Finally, CICC Research assumed coverage on shares of AstraZeneca in a report on Sunday, August 23rd. They set an "outperform" rating and a $198.00 target price for the company. Sixteen investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, AstraZeneca has an average rating of "Moderate Buy" and an average price target of $206.67.

AstraZeneca Company 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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