Principal Financial Group Inc. Raises Stock Position in AstraZeneca PLC (NASDAQ:AZN)

Principal Financial Group Inc. raised its stake in shares of AstraZeneca PLC (NASDAQ:AZN - Free Report) by 151.7% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,198,450 shares of the company's stock after purchasing an additional 722,390 shares during the period. Principal Financial Group Inc.'s holdings in AstraZeneca were worth $88,086,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in AZN. Banque Transatlantique SA bought a new position in shares of AstraZeneca in the 4th quarter valued at about $26,000. Confluence Investment Management LLC bought a new position in shares of AstraZeneca in the 1st quarter valued at about $27,000. Mascagni Wealth Management Inc. bought a new position in shares of AstraZeneca in the 4th quarter valued at about $29,000. FNY Investment Advisers LLC bought a new position in shares of AstraZeneca in the 1st quarter valued at about $29,000. Finally, Highline Wealth Partners LLC lifted its holdings in shares of AstraZeneca by 447.4% in the 1st 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. Institutional investors own 20.35% of the company's stock.

Analysts Set New Price Targets

Separately, BNP Paribas assumed 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 given a buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $85.00.

AstraZeneca Trading Down 2.2%

NASDAQ AZN traded down $1.53 during trading on Friday, hitting $69.60. The stock had a trading volume of 6,768,010 shares, compared to its average volume of 5,264,380. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.70 and a current ratio of 0.90. The stock has a market capitalization of $215.85 billion, a price-to-earnings ratio of 27.95, a P/E/G ratio of 1.28 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 stock has a 50 day simple moving average of $70.78 and a 200 day simple moving average of $70.64.

AstraZeneca (NASDAQ:AZN - Get Free Report) last announced its quarterly earnings data on Tuesday, April 29th. The company reported $1.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.10 by $0.14. The business had revenue of $13.59 billion during the quarter, compared to the consensus estimate of $13.71 billion. AstraZeneca had a net margin of 14.14% and a return on equity of 33.14%. The firm's quarterly revenue was up 7.2% compared to the same quarter last year. During the same quarter last year, the firm earned $2.06 earnings per share. Sell-side analysts predict 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.