Kornitzer Capital Management Inc. KS Purchases 6,512 Shares of AstraZeneca Plc $AZN

Key Points

• Kornitzer Capital Management increased its AstraZeneca stake by 4.4%, buying 6,512 shares in the third quarter to hold 155,418 shares valued at about $25.1 million.
• AstraZeneca reported quarterly EPS of $2.79, beating the $2.60 consensus, while revenue of $16.21 billion topped estimates and rose 6.5% year over year.
• Analysts have a consensus “Moderate Buy” rating and an average price target of $206.67; 16 analysts rate the stock Buy and three rate it Hold.

Kornitzer Capital Management Inc. KS grew its position in AstraZeneca Plc (NYSE:AZN - Free Report) by 4.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 155,418 shares of the company's stock after purchasing an additional 6,512 shares during the period. Kornitzer Capital Management Inc. KS's holdings in AstraZeneca were worth $25,095,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Professional Advisory Services Inc. bought a new position in AstraZeneca during the second quarter valued at about $30,241,000. Wealthcare Advisory Partners LLC purchased a new stake in AstraZeneca during the second quarter worth about $2,296,000. Andra AP fonden increased its holdings in AstraZeneca by 122.9% during the second quarter. Andra AP fonden now owns 526,714 shares of the company's stock worth $99,876,000 after buying an additional 290,412 shares during the last quarter. Westport Asset Management Inc. purchased a new stake in AstraZeneca during the second quarter worth about $1,422,000. Finally, International Assets Investment Management LLC raised its position in AstraZeneca by 1,564.8% in the third quarter. International Assets Investment Management LLC now owns 28,785 shares of the company's stock worth $4,648,000 after acquiring an additional 27,056 shares during the period. Hedge funds and other institutional investors own 20.35% of the company's stock.

AstraZeneca Trading Down 0.1%

Shares of AZN opened at $186.62 on Friday. The business has a 50-day moving average of $166.48 and a 200 day moving average of $180.22. AstraZeneca Plc has a fifty-two week low of $153.41 and a fifty-two week high of $212.71. The firm has a market cap of $289.43 billion, a P/E ratio of 26.40, a price-to-earnings-growth ratio of 1.45 and a beta of 0.24. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.67 and a current ratio of 1.01.

AstraZeneca (NYSE:AZN - Get Free Report) last released its quarterly earnings data on Friday, October 30th. The company reported $2.79 EPS for the quarter, beating the consensus estimate of $2.60 by $0.19. The business had revenue of $16.21 billion for the quarter, compared to the consensus estimate of $16 billion. AstraZeneca had a net margin of 17.68% and a return on equity of 31.85%. The company's revenue was up 6.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.38 earnings per share. As a group, research analysts forecast that AstraZeneca Plc will post 10.22 EPS for the current year.

Wall Street Analyst Weigh In

A number of research firms have weighed in on AZN. Wall Street Zen upgraded shares of AstraZeneca from a "hold" rating to a "buy" rating in a research note on Saturday, October 31st. Deutsche Bank Aktiengesellschaft raised shares of AstraZeneca from a "sell" rating to a "hold" rating in a research report on Tuesday, September 15th. CICC Research started coverage on shares of AstraZeneca in a research note on Sunday, August 23rd. They set an "outperform" rating and a $198.00 price target for the company. Weiss Ratings raised shares of AstraZeneca from a "hold (c+)" rating to a "buy (b-)" rating in a report on Monday, October 26th. Finally, Nordea Equity Research upgraded AstraZeneca from a "sell" rating to a "buy" rating in a research note on Tuesday, October 13th. Sixteen equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $206.67.

AstraZeneca Profile

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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