Glenmede Trust Co. NA Sells 70,919 Shares of Astrazeneca Plc $AZN

Key Points

• Glenmede Trust Co. NA cut its AstraZeneca stake by 49.1% in the first quarter, selling 70,919 shares and retaining 73,591 shares valued at approximately $14.5 million.
• Despite the reduction, institutional ownership remains significant at 20.35%, with several major investors—including Amundi and Janus Henderson—substantially increasing their positions.
• Analysts maintain a “Moderate Buy” consensus on AZN, with 12 Buy ratings, an average price target of $211, and recent quarterly earnings of $2.63 per share, above the $2.50 estimate.

Glenmede Trust Co. NA lessened its holdings in Astrazeneca Plc (NYSE:AZN - Free Report) by 49.1% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 73,591 shares of the company's stock after selling 70,919 shares during the period. Glenmede Trust Co. NA's holdings in Astrazeneca were worth $14,514,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Fisher Asset Management LLC grew its stake in shares of Astrazeneca by 2.1% in the 4th quarter. Fisher Asset Management LLC now owns 21,601,433 shares of the company's stock valued at $3,791,051,000 after purchasing an additional 438,709 shares during the period. Franklin Resources Inc. lifted its position in shares of Astrazeneca by 2.3% during the 4th quarter. Franklin Resources Inc. now owns 20,157,744 shares of the company's stock worth $3,537,684,000 after buying an additional 445,014 shares during the period. Amundi lifted its position in shares of Astrazeneca by 146,574.4% during the 1st quarter. Amundi now owns 15,386,149 shares of the company's stock worth $3,034,456,000 after buying an additional 15,375,659 shares during the period. Morgan Stanley grew its position in Astrazeneca by 3.2% in the fourth quarter. Morgan Stanley now owns 13,878,726 shares of the company's stock valued at $2,435,716,000 after acquiring an additional 432,939 shares during the period. Finally, Janus Henderson Group PLC raised its stake in Astrazeneca by 889.9% during the first quarter. Janus Henderson Group PLC now owns 11,949,424 shares of the company's stock worth $2,319,947,000 after acquiring an additional 10,742,268 shares in the last quarter. Institutional investors own 20.35% of the company's stock.

Wall Street Analysts Forecast Growth

AZN has been the subject of a number of analyst reports. DZ Bank raised Astrazeneca from a "neutral" rating to a "buy" rating in a report on Wednesday, April 29th. JPMorgan Chase & Co. reaffirmed a "buy" rating on shares of Astrazeneca in a report on Tuesday, June 30th. Bank of America reaffirmed a "buy" rating on shares of Astrazeneca in a report on Wednesday, July 1st. Barclays reiterated a "buy" rating on shares of Astrazeneca in a research report on Monday, June 1st. Finally, Sanford C. Bernstein restated a "buy" rating on shares of Astrazeneca in a research report on Monday, May 4th. Twelve equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $211.00.

Astrazeneca Trading Up 0.1%

Shares of AZN opened at $169.77 on Monday. The stock has a fifty day moving average price of $179.02 and a two-hundred day moving average price of $187.83. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.67 and a current ratio of 0.89. Astrazeneca Plc has a 52-week low of $145.79 and a 52-week high of $212.71. The company has a market cap of $263.30 billion, a price-to-earnings ratio of 25.38, a PEG ratio of 1.47 and a beta of 0.26.

Astrazeneca (NYSE:AZN - Get Free Report) last posted its quarterly earnings data on Monday, July 27th. The company reported $2.63 EPS for the quarter, topping analysts' consensus estimates of $2.50 by $0.13. The company had revenue of $15.38 billion for the quarter, compared to analyst estimates of $15.44 billion. Astrazeneca had a return on equity of 31.45% and a net margin of 17.02%.The business's revenue was up 6.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.17 earnings per share. Analysts predict that Astrazeneca Plc will post 10.22 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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