Jackson Square Capital LLC Buys New Shares in Astrazeneca Plc $AZN

Key Points

• Jackson Square Capital bought 38,184 AstraZeneca shares worth approximately $6.2 million during the third quarter, making the stock 0.9% of its portfolio.
• Analyst sentiment remains favorable, with 15 Buy ratings and four Holds; AstraZeneca has a consensus “Moderate Buy” rating and an average price target of $206.67.
• AstraZeneca shares recently traded at $165.09, while its latest quarterly results beat EPS expectations ($2.63 versus $2.50) and revenue increased 6.4% year over year.

Jackson Square Capital LLC purchased a new stake in shares of Astrazeneca Plc (NYSE:AZN - Free Report) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 38,184 shares of the company's stock, valued at approximately $6,224,000. Astrazeneca accounts for 0.9% of Jackson Square Capital LLC's portfolio, making the stock its 29th biggest holding.

Other hedge funds have also made changes to their positions in the company. IFP Advisors Inc raised its stake in Astrazeneca by 22.1% during the 3rd quarter. IFP Advisors Inc now owns 7,765 shares of the company's stock valued at $1,254,000 after purchasing an additional 1,408 shares during the period. Ariston Services Group purchased a new stake in shares of Astrazeneca in the third quarter valued at $222,000. Encompass More Asset Management boosted its position in shares of Astrazeneca by 46.2% in the third quarter. Encompass More Asset Management now owns 2,167 shares of the company's stock worth $350,000 after buying an additional 685 shares during the period. Fulcrum Wealth Advisors LLC boosted its position in shares of Astrazeneca by 11.1% in the third quarter. Fulcrum Wealth Advisors LLC now owns 14,712 shares of the company's stock worth $2,376,000 after buying an additional 1,467 shares during the period. Finally, New England Research & Management Inc. acquired a new stake in shares of Astrazeneca in the third quarter worth $1,234,000. Hedge funds and other institutional investors own 20.35% of the company's stock.

Wall Street Analyst Weigh In

AZN has been the topic of a number of research analyst reports. Jefferies Financial Group reiterated a "buy" rating on shares of Astrazeneca in a report on Friday, June 26th. Weiss Ratings downgraded Astrazeneca from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Tuesday, July 28th. Zacks Research raised Astrazeneca from a "strong sell" rating to a "hold" rating in a research note on Tuesday, October 13th. Nordea Equity Research upgraded Astrazeneca from a "sell" rating to a "buy" rating in a research report on Tuesday, October 13th. Finally, Wall Street Zen cut Astrazeneca from a "buy" rating to a "hold" rating in a research note on Sunday, October 11th. Fifteen analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. According to data from MarketBeat.com, Astrazeneca presently has a consensus rating of "Moderate Buy" and an average target price of $206.67.

Astrazeneca Stock Down 0.2%

Shares of NYSE:AZN traded down $0.32 during trading on Monday, reaching $165.09. 991,449 shares of the company traded hands, compared to its average volume of 2,805,244. The firm has a fifty day simple moving average of $162.16 and a 200 day simple moving average of $175.96. The company has a quick ratio of 0.67, a current ratio of 0.89 and a debt-to-equity ratio of 0.47. Astrazeneca Plc has a 1-year low of $153.41 and a 1-year high of $212.71. The firm has a market cap of $256.03 billion, a P/E ratio of 24.67, a price-to-earnings-growth ratio of 1.40 and a beta of 0.27.

Astrazeneca (NYSE:AZN - Get Free Report) last released its quarterly earnings data on Monday, July 27th. The company reported $2.63 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.50 by $0.13. Astrazeneca had a return on equity of 31.45% and a net margin of 17.02%. The firm had revenue of $15.38 billion during the quarter, compared to analysts' expectations of $15.44 billion. During the same quarter last year, the firm earned $2.17 earnings per share. The business's revenue for the quarter was up 6.4% on a year-over-year basis. Analysts anticipate that Astrazeneca Plc will post 9.38 earnings per share for the current fiscal year.

About Astrazeneca

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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