Orbimed Advisors LLC Takes $132.18 Million Position in Astrazeneca Plc $AZN

Key Points

• Orbimed Advisors initiated a $132.18 million position in AstraZeneca, purchasing 670,200 shares and making the stock its ninth-largest holding at 2.4% of its portfolio.
• Institutional ownership remains significant, with several major investors increasing their stakes; institutional investors collectively own 20.35% of AstraZeneca.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and a $211 price target. AstraZeneca also exceeded quarterly earnings expectations, reporting $2.63 in EPS versus the $2.10 consensus estimate.

Orbimed Advisors LLC bought a new stake in Astrazeneca Plc (NYSE:AZN - Free Report) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 670,200 shares of the company's stock, valued at approximately $132,177,000. Astrazeneca comprises 2.4% of Orbimed Advisors LLC's investment portfolio, making the stock its 9th largest position.

A number of other hedge funds and other institutional investors have also bought and sold shares of AZN. Fisher Asset Management LLC raised its stake in Astrazeneca by 2.1% in the fourth quarter. Fisher Asset Management LLC now owns 21,601,433 shares of the company's stock valued at $3,791,051,000 after buying an additional 438,709 shares during the period. Franklin Resources Inc. boosted its stake 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 acquiring an additional 445,014 shares during the period. Morgan Stanley increased its holdings in shares of Astrazeneca by 3.2% during the 4th quarter. Morgan Stanley now owns 13,878,726 shares of the company's stock worth $2,435,716,000 after acquiring an additional 432,939 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Astrazeneca by 546.1% during the 1st quarter. Bank of New York Mellon Corp now owns 6,667,812 shares of the company's stock worth $1,315,026,000 after acquiring an additional 5,635,812 shares during the last quarter. Finally, Swiss National Bank bought a new stake in Astrazeneca in the 1st quarter valued at $1,202,714,000. Institutional investors own 20.35% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. Wall Street Zen raised Astrazeneca from a "hold" rating to a "buy" rating in a report on Saturday, May 2nd. Bank of America reissued a "buy" rating on shares of Astrazeneca in a research report on Wednesday, July 1st. Weiss Ratings cut shares of Astrazeneca from a "buy (b)" rating to a "buy (b-)" rating in a research note on Thursday, June 18th. HSBC downgraded shares of Astrazeneca from a "buy" rating to a "hold" rating in a report on Monday, July 13th. Finally, Morgan Stanley reissued an "overweight" rating on shares of Astrazeneca in a report on Wednesday, April 8th. Thirteen research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Astrazeneca presently has a consensus rating of "Moderate Buy" and a consensus target price of $211.00.

Astrazeneca Stock Down 0.3%

AZN stock opened at $168.68 on Monday. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.91 and a quick ratio of 0.71. The stock has a market capitalization of $261.61 billion, a price-to-earnings ratio of 25.33, a PEG ratio of 1.38 and a beta of 0.24. The business's fifty day moving average price is $180.55 and its two-hundred day moving average price is $188.07. Astrazeneca Plc has a fifty-two week low of $142.98 and a fifty-two week high of $212.71.

Astrazeneca (NYSE:AZN - Get Free Report) last posted its earnings results on Monday, July 27th. The company reported $2.63 earnings per share for the quarter, topping analysts' consensus estimates of $2.10 by $0.53. The company had revenue of $15.38 billion during the quarter, compared to the consensus estimate of $15.44 billion. Astrazeneca had a return on equity of 30.86% and a net margin of 17.19%. On average, equities 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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