Kornitzer Capital Management Inc. KS Has $21.69 Million Stock Position in AstraZeneca PLC (NASDAQ:AZN)

Kornitzer Capital Management Inc. KS reduced its position in AstraZeneca PLC (NASDAQ:AZN - Free Report) by 1.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 295,109 shares of the company's stock after selling 4,293 shares during the period. Kornitzer Capital Management Inc. KS's holdings in AstraZeneca were worth $21,691,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Confluence Investment Management LLC purchased a new position in AstraZeneca during the first quarter valued at approximately $27,000. Larson Financial Group LLC grew its position in AstraZeneca by 297.9% during the first quarter. Larson Financial Group LLC now owns 386 shares of the company's stock valued at $28,000 after purchasing an additional 289 shares in the last quarter. FNY Investment Advisers LLC purchased a new position in AstraZeneca during the first quarter valued at approximately $29,000. Banque Transatlantique SA bought a new position in AstraZeneca during the fourth quarter valued at approximately $26,000. Finally, Highline Wealth Partners LLC lifted its stake in AstraZeneca by 447.4% in the first quarter. Highline Wealth Partners LLC now owns 416 shares of the company's stock valued at $31,000 after acquiring an additional 340 shares during the last quarter. 20.35% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

AZN has been the subject of a number of analyst reports. Berenberg Bank set a $97.00 price objective on shares of AstraZeneca in a research note on Wednesday, July 9th. BNP Paribas initiated coverage on shares of AstraZeneca in a research note on Tuesday, April 15th. They issued an "outperform" rating and a $75.00 price objective for the company. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $89.00.

AstraZeneca Price Performance

NASDAQ:AZN opened at $71.74 on Tuesday. The stock has a market cap of $222.49 billion, a P/E ratio of 28.81, a PEG ratio of 1.31 and a beta of 0.37. AstraZeneca PLC has a one year low of $61.24 and a one year high of $87.68. The company has a fifty day moving average price of $70.71 and a 200 day moving average price of $70.88. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.90 and a quick ratio of 0.70.

AstraZeneca (NASDAQ:AZN - Get Free Report) last announced its quarterly earnings results on Tuesday, April 29th. The company reported $1.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.10 by $0.14. AstraZeneca had a net margin of 14.14% and a return on equity of 33.14%. The firm had revenue of $13.59 billion for the quarter, compared to analyst estimates of $13.71 billion. During the same quarter in the previous year, the firm posted $2.06 EPS. The business's revenue for the quarter was up 7.2% on a year-over-year basis. Analysts anticipate that AstraZeneca PLC will post 4.51 earnings per share for the current year.

AstraZeneca Profile

AstraZeneca PLC, a biopharmaceutical company, focuses on the discovery, development, manufacture, and commercialization of prescription medicines. The company's marketed products include Tagrisso, Imfinzi, Lynparza, Calquence, Enhertu, Orpathys, Truqap, Zoladex, Faslodex, Farxiga, Brilinta, Lokelma, Roxadustat, Andexxa, Crestor, Seloken, Onglyza, Bydureon, Fasenra, Breztri, Symbicort, Saphnelo, Tezspire, Pulmicort, Bevespi, and Daliresp for cardiovascular, renal, metabolism, and oncology.

Want to see what other hedge funds are holding AZN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for AstraZeneca PLC (NASDAQ:AZN - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.