Polar Asset Management Partners Inc. Makes New $12.76 Million Investment in AstraZeneca PLC (NASDAQ:AZN)

Polar Asset Management Partners Inc. bought a new position in shares of AstraZeneca PLC (NASDAQ:AZN - Free Report) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 194,800 shares of the company's stock, valued at approximately $12,763,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in AZN. Banque Transatlantique SA bought a new stake in shares of AstraZeneca in the fourth quarter valued at about $26,000. CoreCap Advisors LLC increased its position in shares of AstraZeneca by 31.8% in the fourth quarter. CoreCap Advisors LLC now owns 642 shares of the company's stock valued at $42,000 after acquiring an additional 155 shares during the last quarter. Golden State Wealth Management LLC acquired a new stake in shares of AstraZeneca in the fourth quarter valued at about $55,000. Crews Bank & Trust acquired a new stake in shares of AstraZeneca in the fourth quarter valued at about $55,000. Finally, Newbridge Financial Services Group Inc. acquired a new stake in shares of AstraZeneca in the fourth quarter valued at about $55,000. 20.35% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. BNP Paribas assumed coverage on AstraZeneca in a research report on Tuesday, April 15th. They issued an "outperform" rating and a $75.00 target price on the stock. UBS Group raised AstraZeneca from a "neutral" rating to a "buy" rating in a research report on Thursday, February 13th. Finally, Morgan Stanley started coverage on AstraZeneca in a research report on Wednesday, February 12th. They set an "overweight" rating on the stock. One investment analyst has rated the stock with a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Buy" and a consensus target price of $88.00.

AstraZeneca Stock Performance

Shares of NASDAQ:AZN traded up $0.49 during trading on Thursday, reaching $70.87. 3,459,264 shares of the stock were exchanged, compared to its average volume of 5,172,894. AstraZeneca PLC has a 12 month low of $61.24 and a 12 month high of $87.68. The firm has a market cap of $219.79 billion, a PE ratio of 31.36, a PEG ratio of 1.42 and a beta of 0.40. The stock has a 50-day moving average price of $69.45 and a 200-day moving average price of $69.58. The company has a current ratio of 0.93, a quick ratio of 0.74 and a debt-to-equity ratio of 0.65.

AstraZeneca (NASDAQ:AZN - Get Free Report) last issued its quarterly earnings data on Tuesday, April 29th. The company reported $1.24 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.10 by $0.14. AstraZeneca had a return on equity of 32.23% and a net margin of 13.01%. The company had revenue of $13.59 billion during the quarter, compared to analysts' expectations of $13.71 billion. During the same quarter in the previous year, the company posted $2.06 earnings per share. The business's revenue was up 7.2% on a year-over-year basis. Research analysts expect that AstraZeneca PLC will post 4.51 EPS for the current fiscal year.

About AstraZeneca

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.