Principal Financial Group Inc. Has $88.09 Million Stake in AstraZeneca PLC (NASDAQ:AZN)

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

Other institutional investors have also modified their holdings of the company. Banque Transatlantique SA acquired a new stake in shares of AstraZeneca in the fourth quarter worth $26,000. Confluence Investment Management LLC bought a new stake in shares of AstraZeneca in the 1st quarter worth approximately $27,000. Mascagni Wealth Management Inc. acquired a new position in AstraZeneca during the 4th quarter valued at approximately $29,000. FNY Investment Advisers LLC acquired a new stake in AstraZeneca in the first quarter worth $29,000. 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 buying an additional 340 shares during the last quarter. Institutional investors and hedge funds own 20.35% of the company's stock.

AstraZeneca Price Performance

Shares of AstraZeneca stock traded down $1.53 during mid-day trading on Friday, reaching $69.60. 6,768,010 shares of the stock were exchanged, compared to its average volume of 5,252,689. AstraZeneca PLC has a fifty-two week low of $61.24 and a fifty-two week high of $87.68. The company has a market cap of $215.85 billion, a price-to-earnings ratio of 27.95, a price-to-earnings-growth ratio of 1.28 and a beta of 0.37. The company has a current ratio of 0.90, a quick ratio of 0.70 and a debt-to-equity ratio of 0.65. The firm has a 50-day simple moving average of $70.78 and a 200 day simple moving average of $70.60.

AstraZeneca (NASDAQ:AZN - Get Free Report) last released its quarterly earnings results on Tuesday, April 29th. The company reported $1.24 earnings per share 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 company had revenue of $13.59 billion during the quarter, compared to analysts' expectations of $13.71 billion. During the same quarter in the prior year, the company earned $2.06 earnings per share. The business's quarterly revenue was up 7.2% compared to the same quarter last year. On average, sell-side analysts predict that AstraZeneca PLC will post 4.51 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, BNP Paribas started coverage on shares of AstraZeneca in a research report on Tuesday, April 15th. They issued an "outperform" rating and a $75.00 price objective on the stock. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat, AstraZeneca currently has an average rating of "Moderate Buy" and an average target price of $85.00.

AstraZeneca Company 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.