QRG Capital Management Inc. Buys 8,023 Shares of Astrazeneca Plc $AZN

Key Points

• QRG Capital Management increased its AstraZeneca stake by 8.2% in the second quarter, buying 8,023 shares to bring its holdings to 105,760 shares valued at approximately $19.99 million.
• AstraZeneca reported quarterly EPS of $2.63, surpassing the $2.50 consensus estimate, while revenue rose 6.4% year over year to $15.38 billion, slightly below expectations.
• Shares traded at $163.59, down 2.8%, although analysts maintained a consensus “Moderate Buy” rating with an average price target of $206.67.

QRG Capital Management Inc. raised its stake in shares of Astrazeneca Plc (NYSE:AZN - Free Report) by 8.2% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 105,760 shares of the company's stock after buying an additional 8,023 shares during the quarter. QRG Capital Management Inc.'s holdings in Astrazeneca were worth $19,989,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Envestnet Portfolio Solutions Inc. increased its holdings in shares of Astrazeneca by 3.7% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 17,965 shares of the company's stock worth $3,382,000 after purchasing an additional 634 shares during the period. Envestnet Asset Management Inc. grew its position in Astrazeneca by 0.5% during the second quarter. Envestnet Asset Management Inc. now owns 2,281,431 shares of the company's stock worth $431,737,000 after buying an additional 10,458 shares in the last quarter. Andra AP fonden increased its stake in Astrazeneca by 122.9% in the 2nd quarter. Andra AP fonden now owns 526,714 shares of the company's stock worth $99,876,000 after acquiring an additional 290,412 shares during the last quarter. Premier Financial Group purchased a new stake in shares of Astrazeneca in the 2nd quarter valued at about $71,000. Finally, Tidal Investments LLC boosted its position in shares of Astrazeneca by 14.5% during the 2nd quarter. Tidal Investments LLC now owns 248,108 shares of the company's stock valued at $46,554,000 after acquiring an additional 31,379 shares during the last quarter. 20.35% of the stock is currently owned by institutional investors.

Astrazeneca Trading Down 2.8%

NYSE AZN opened at $163.59 on Thursday. The stock has a 50-day moving average of $164.01 and a 200-day moving average of $179.63. The company has a current ratio of 0.89, a quick ratio of 0.67 and a debt-to-equity ratio of 0.47. Astrazeneca Plc has a 1-year low of $145.79 and a 1-year high of $212.71. The firm has a market cap of $253.71 billion, a PE ratio of 24.45, a price-to-earnings-growth ratio of 1.42 and a beta of 0.25.

Astrazeneca (NYSE:AZN - Get Free Report) last announced its quarterly earnings data on Monday, July 27th. The company reported $2.63 earnings per share for the quarter, beating the consensus estimate of $2.50 by $0.13. Astrazeneca had a return on equity of 31.45% and a net margin of 17.02%.The firm had revenue of $15.38 billion during the quarter, compared to the consensus estimate of $15.44 billion. During the same quarter in the previous year, the company posted $2.17 earnings per share. The business's revenue was up 6.4% on a year-over-year basis. As a group, sell-side analysts forecast that Astrazeneca Plc will post 9.37 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Weiss Ratings cut shares of Astrazeneca from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Tuesday, July 28th. CICC Research started coverage on shares of Astrazeneca in a report on Sunday, August 23rd. They set an "outperform" rating and a $198.00 price objective for the company. Zacks Research cut Astrazeneca from a "hold" rating to a "strong sell" rating in a research note on Monday, September 14th. Jefferies Financial Group reiterated a "buy" rating on shares of Astrazeneca in a research report on Friday, June 26th. Finally, The Goldman Sachs Group reissued a "buy" rating on shares of Astrazeneca in a report on Wednesday, July 1st. Fourteen investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, Astrazeneca has a consensus rating of "Moderate Buy" and an average target price of $206.67.

Astrazeneca Profile

AstraZeneca plc is a global biopharmaceutical company focused on the discovery, development and commercialization of prescription medicines. Its principal therapeutic areas include oncology, cardiovascular, renal and metabolic diseases, respiratory and immunology conditions, and rare diseases.

The company's portfolio includes medicines such as Tagrisso, Imfinzi and Lynparza for cancer; Farxiga for cardiovascular, kidney and metabolic conditions; Fasenra for severe asthma; and Symbicort for respiratory disease.

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