Groupama Asset Managment Takes Position in Astrazeneca Plc $AZN

Key Points

• Groupama Asset Management acquired 863,629 AstraZeneca shares worth approximately $170.3 million, representing about 0.06% of the company and 2.5% of Groupama’s portfolio.
• Institutional ownership increased significantly, with Amundi, Janus Henderson, Royal Bank of Canada, Swiss National Bank and SEB Asset Management among major buyers. Hedge funds and other institutions collectively own 20.35% of AstraZeneca.
• Analysts maintain a “Moderate Buy” consensus with a $211 price target, while AstraZeneca recently reported quarterly EPS of $2.63, above the $2.50 estimate, and revenue growth of 6.4% year over year.

Groupama Asset Managment acquired a new stake in shares of Astrazeneca Plc (NYSE:AZN - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 863,629 shares of the company's stock, valued at approximately $170,325,000. Astrazeneca comprises about 2.5% of Groupama Asset Managment's holdings, making the stock its 11th largest holding. Groupama Asset Managment owned approximately 0.06% of Astrazeneca at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of AZN. Amundi raised its position in Astrazeneca by 146,574.4% in 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 last quarter. Janus Henderson Group PLC boosted its holdings in shares of Astrazeneca by 889.9% during the 1st quarter. Janus Henderson Group PLC now owns 11,949,424 shares of the company's stock valued at $2,319,947,000 after acquiring an additional 10,742,268 shares during the last quarter. Royal Bank of Canada boosted its holdings in shares of Astrazeneca by 208.6% during the 1st quarter. Royal Bank of Canada now owns 10,386,455 shares of the company's stock valued at $2,048,417,000 after acquiring an additional 7,021,126 shares during the last quarter. Swiss National Bank bought a new stake in shares of Astrazeneca in the first quarter worth approximately $1,202,714,000. Finally, SEB Asset Management AB bought a new stake in shares of Astrazeneca in the first quarter worth approximately $1,157,593,000. 20.35% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Barclays reissued a "buy" rating on shares of Astrazeneca in a report on Monday, June 1st. Wall Street Zen downgraded shares of Astrazeneca from a "buy" rating to a "hold" rating in a research report on Saturday. Jefferies Financial Group reiterated a "buy" rating on shares of Astrazeneca in a research note on Friday, June 26th. Bank of America reissued a "buy" rating on shares of Astrazeneca in a report on Wednesday, July 1st. Finally, HSBC downgraded Astrazeneca from a "buy" rating to a "hold" rating in a research note on Monday, July 13th. Twelve research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Astrazeneca presently has a consensus rating of "Moderate Buy" and a consensus target price of $211.00.

Astrazeneca Price Performance

NYSE AZN opened at $169.77 on Friday. Astrazeneca Plc has a 52 week low of $145.79 and a 52 week high of $212.71. The firm has a market capitalization of $263.30 billion, a P/E ratio of 25.38, a PEG ratio of 1.48 and a beta of 0.24. The company has a quick ratio of 0.71, a current ratio of 0.89 and a debt-to-equity ratio of 0.47. The company has a 50-day moving average price of $179.02 and a 200-day moving average price of $187.77.

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

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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