Cumberland Partners Ltd Has $28.74 Million Holdings in Astrazeneca Plc $AZN

Key Points

• Cumberland Partners Ltd increased its AstraZeneca stake by 16.2% in the first quarter, adding 20,334 shares to reach 145,746 shares worth about $28.74 million.
• Other institutional investors also boosted or initiated positions, and institutions now own about 20.35% of AstraZeneca’s stock.
• AstraZeneca reported better-than-expected quarterly results, with EPS of $2.58 and revenue of $15.29 billion, while analysts currently rate the stock a Moderate Buy with an average price target of $211.

Cumberland Partners Ltd grew its holdings in Astrazeneca Plc (NYSE:AZN - Free Report) by 16.2% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 145,746 shares of the company's stock after acquiring an additional 20,334 shares during the quarter. Astrazeneca accounts for 2.2% of Cumberland Partners Ltd's portfolio, making the stock its 18th largest holding. Cumberland Partners Ltd's holdings in Astrazeneca were worth $28,744,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Public Employees Retirement System of Ohio increased its holdings in shares of Astrazeneca by 242.6% during the 1st quarter. Public Employees Retirement System of Ohio now owns 957,000 shares of the company's stock worth $186,144,000 after purchasing an additional 677,700 shares during the period. Keebeck Wealth Management acquired a new position in shares of Astrazeneca during the first quarter valued at about $237,000. Aureus Asset Management LLC bought a new stake in shares of Astrazeneca in the first quarter valued at about $218,000. Clal Insurance Enterprises Holdings Ltd lifted its stake in shares of Astrazeneca by 51.8% in the first quarter. Clal Insurance Enterprises Holdings Ltd now owns 258 shares of the company's stock valued at $50,000 after buying an additional 88 shares during the period. Finally, Temasek Holdings Private Ltd acquired a new stake in Astrazeneca during the first quarter worth about $70,887,000. Institutional investors and hedge funds own 20.35% of the company's stock.

Astrazeneca Stock Up 0.2%

Shares of AZN opened at $168.68 on Friday. The company has a quick ratio of 0.71, a current ratio of 0.91 and a debt-to-equity ratio of 0.52. The company has a 50-day moving average price of $180.55 and a two-hundred day moving average price of $187.97. The stock has a market cap of $261.61 billion, a price-to-earnings ratio of 25.33, a P/E/G ratio of 1.37 and a beta of 0.24. Astrazeneca Plc has a 12 month low of $142.98 and a 12 month high of $212.71.

Astrazeneca (NYSE:AZN - Get Free Report) last released its quarterly earnings data on Wednesday, April 29th. The company reported $2.58 earnings per share for the quarter, beating the consensus estimate of $2.52 by $0.06. Astrazeneca had a return on equity of 30.86% and a net margin of 17.19%.The company had revenue of $15.29 billion for the quarter, compared to analyst estimates of $14.93 billion. Equities analysts predict that Astrazeneca Plc will post 10.22 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have commented on AZN shares. JPMorgan Chase & Co. reaffirmed a "buy" rating on shares of Astrazeneca in a report on Tuesday, June 30th. HSBC lowered Astrazeneca from a "buy" rating to a "hold" rating in a report on Monday, July 13th. Weiss Ratings cut Astrazeneca from a "buy (b)" rating to a "buy (b-)" rating in a research report on Thursday, June 18th. Morgan Stanley restated an "overweight" rating on shares of Astrazeneca in a research note on Wednesday, April 8th. Finally, Barclays reaffirmed a "buy" rating on shares of Astrazeneca in a research report on Monday, June 1st. Thirteen analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $211.00.

About Astrazeneca

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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