QRG Capital Management Inc. Has $17.30 Million Stock Position in AstraZeneca PLC (NASDAQ:AZN)

QRG Capital Management Inc. increased its holdings in shares of AstraZeneca PLC (NASDAQ:AZN - Free Report) by 6.6% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 235,391 shares of the company's stock after acquiring an additional 14,624 shares during the period. QRG Capital Management Inc.'s holdings in AstraZeneca were worth $17,301,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Bank of America Corp DE raised its stake in shares of AstraZeneca by 189.3% in the fourth quarter. Bank of America Corp DE now owns 24,026,966 shares of the company's stock worth $1,574,247,000 after acquiring an additional 15,722,197 shares during the last quarter. Marshall Wace LLP bought a new position in shares of AstraZeneca in the fourth quarter worth about $254,018,000. Boston Partners raised its stake in shares of AstraZeneca by 9,985.6% in the fourth quarter. Boston Partners now owns 3,707,479 shares of the company's stock worth $243,444,000 after acquiring an additional 3,670,719 shares during the last quarter. Raymond James Financial Inc. bought a new position in shares of AstraZeneca in the fourth quarter worth about $158,018,000. Finally, Alyeska Investment Group L.P. raised its stake in shares of AstraZeneca by 220.8% in the fourth quarter. Alyeska Investment Group L.P. now owns 3,027,511 shares of the company's stock worth $198,363,000 after acquiring an additional 2,083,645 shares during the last quarter. 20.35% of the stock is currently owned by institutional investors and hedge funds.

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 target price for the company. One research analyst has rated the stock with a hold rating, five have assigned a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Buy" and a consensus price target of $85.00.

AstraZeneca Trading Down 0.3%

Shares of NASDAQ:AZN traded down $0.21 during trading on Wednesday, hitting $70.76. 3,370,917 shares of the company's stock were exchanged, compared to its average volume of 5,202,525. AstraZeneca PLC has a 1-year low of $61.24 and a 1-year high of $87.68. The firm has a 50-day moving average price of $70.07 and a two-hundred day moving average price of $70.35. 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 market cap of $219.45 billion, a P/E ratio of 16.43, a PEG ratio of 1.30 and a beta of 0.38.

AstraZeneca (NASDAQ:AZN - Get Free Report) last issued its quarterly earnings results on Tuesday, April 29th. The company reported $1.24 EPS for the quarter, topping 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 previous year, the company earned $2.06 EPS. AstraZeneca's revenue was up 7.2% on a year-over-year basis. Equities 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.