Barings LLC Makes New $27.79 Million Investment in Astrazeneca Plc $AZN

Key Points

• Barings LLC initiated a new position in AstraZeneca, buying 143,032 shares valued at about $27.8 million in the first quarter. The stake represents roughly 0.4% of Barings’ portfolio and ranks as its 26th-largest holding.
• Institutional interest in AZN has been broadly positive, with several hedge funds boosting their holdings and institutions owning about 20.35% of the company’s shares.
• Wall Street sentiment remains mostly constructive, with 13 analysts rating AstraZeneca a Buy and the stock carrying a consensus “Moderate Buy” rating and $211 average price target, despite a few Sell/Hold views.

Barings LLC purchased a new stake in shares of Astrazeneca Plc (NYSE:AZN - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 143,032 shares of the company's stock, valued at approximately $27,788,000. Astrazeneca comprises approximately 0.4% of Barings LLC's portfolio, making the stock its 26th biggest holding.

A number of other hedge funds have also recently modified their holdings of AZN. Brighton Jones LLC lifted its holdings in shares of Astrazeneca by 93.2% in the 4th quarter. Brighton Jones LLC now owns 5,782 shares of the company's stock worth $379,000 after acquiring an additional 2,789 shares during the last quarter. AQR Capital Management LLC lifted its stake in Astrazeneca by 45.3% during the first quarter. AQR Capital Management LLC now owns 37,501 shares of the company's stock worth $2,756,000 after purchasing an additional 11,690 shares in the last quarter. Amundi lifted its stake in Astrazeneca by 54.4% during the second quarter. Amundi now owns 10,274 shares of the company's stock worth $731,000 after purchasing an additional 3,618 shares in the last quarter. Jump Financial LLC boosted its position in shares of Astrazeneca by 898.4% during the second quarter. Jump Financial LLC now owns 33,478 shares of the company's stock worth $2,339,000 after buying an additional 30,125 shares during the period. Finally, Daiwa Securities Group Inc. grew its stake in shares of Astrazeneca by 1.2% in the second quarter. Daiwa Securities Group Inc. now owns 46,642 shares of the company's stock valued at $3,259,000 after buying an additional 559 shares in the last quarter. Hedge funds and other institutional investors own 20.35% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on AZN shares. Jefferies Financial Group reiterated a "buy" rating on shares of Astrazeneca in a report on Friday, June 26th. Deutsche Bank Aktiengesellschaft reiterated a "sell" rating on shares of Astrazeneca in a research note on Tuesday, June 30th. Weiss Ratings cut shares of Astrazeneca from a "buy (b)" rating to a "buy (b-)" rating in a research report on Thursday, June 18th. Bank of America reissued a "buy" rating on shares of Astrazeneca in a research note on Wednesday, July 1st. Finally, Barclays restated a "buy" rating on shares of Astrazeneca in a report on Monday, June 1st. Thirteen equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $211.00.

Astrazeneca Stock Up 0.4%

AZN stock opened at $169.08 on Friday. The company's 50 day moving average price is $182.44 and its 200 day moving average price is $188.47. The firm has a market capitalization of $262.23 billion, a price-to-earnings ratio of 25.39, a PEG ratio of 1.37 and a beta of 0.24. Astrazeneca Plc has a fifty-two week low of $137.23 and a fifty-two week high of $212.71. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.71 and a current ratio of 0.91.

Astrazeneca (NYSE:AZN - Get Free Report) last issued its quarterly earnings results on Wednesday, April 29th. The company reported $2.58 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.52 by $0.06. Astrazeneca had a net margin of 17.19% and a return on equity of 30.86%. The company had revenue of $15.29 billion during the quarter, compared to the consensus estimate of $14.93 billion. On average, equities research analysts anticipate that Astrazeneca Plc will post 10.26 EPS for the current fiscal year.

Astrazeneca Company Profile

AstraZeneca plc is a global biopharmaceutical company headquartered in Cambridge, England. Formed through the 1999 merger of Sweden’s Astra AB and the UK’s Zeneca Group, the company researches, develops, manufactures and commercializes prescription medicines across a range of therapeutic areas. AstraZeneca positions itself as R&D-driven, investing in discovery science, clinical development and regulatory processes to bring new therapies to market.

The company’s commercial portfolio and late-stage pipeline emphasize oncology, cardiovascular, renal and metabolic (CVRM) diseases, and respiratory and immunology.

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