Sei Investments Co. Sells 282,483 Shares of Astrazeneca Plc $AZN

Key Points

• Sei Investments Co. reduced its AstraZeneca stake by 29.2% in the first quarter, selling 282,483 shares and leaving it with 683,752 shares worth about $134.8 million.
• AstraZeneca reported strong quarterly results, posting EPS of $2.58 versus the $2.52 estimate and revenue of $15.29 billion, both ahead of analyst expectations.
• Wall Street sentiment remains positive, with 13 Buy ratings and a consensus Moderate Buy rating; the average price target is $211.

Sei Investments Co. trimmed its position in shares of Astrazeneca Plc (NYSE:AZN - Free Report) by 29.2% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 683,752 shares of the company's stock after selling 282,483 shares during the period. Sei Investments Co.'s holdings in Astrazeneca were worth $134,845,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Triumph Capital Management bought a new stake in shares of Astrazeneca in the 3rd quarter worth about $25,000. MV Capital Management Inc. purchased a new stake in shares of Astrazeneca during the 4th quarter valued at about $26,000. Mascoma Wealth Management LLC bought a new position in shares of Astrazeneca in the 1st quarter valued at about $26,000. Bangor Savings Bank lifted its holdings in shares of Astrazeneca by 102.7% in the 4th quarter. Bangor Savings Bank now owns 304 shares of the company's stock valued at $28,000 after acquiring an additional 154 shares during the last quarter. Finally, Eagle Bay Advisors LLC purchased a new position in Astrazeneca in the fourth quarter worth about $30,000. 20.35% of the stock is currently owned by institutional investors.

Astrazeneca Stock Performance

Astrazeneca stock opened at $168.41 on Friday. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.91 and a quick ratio of 0.71. The firm has a market capitalization of $261.19 billion, a P/E ratio of 25.29, a price-to-earnings-growth ratio of 1.38 and a beta of 0.24. Astrazeneca Plc has a 1-year low of $142.98 and a 1-year high of $212.71. The company's 50-day moving average is $180.80 and its 200 day moving average is $188.05.

Astrazeneca (NYSE:AZN - Get Free Report) last announced its earnings results on Wednesday, April 29th. The company reported $2.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.52 by $0.06. The business had revenue of $15.29 billion during the quarter, compared to analyst estimates of $14.93 billion. Astrazeneca had a return on equity of 30.86% and a net margin of 17.19%. Research analysts forecast that Astrazeneca Plc will post 10.22 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. Jefferies Financial Group restated a "buy" rating on shares of Astrazeneca in a research report on Friday, June 26th. Barclays reiterated a "buy" rating on shares of Astrazeneca in a report on Monday, June 1st. Wall Street Zen raised Astrazeneca from a "hold" rating to a "buy" rating in a research report on Saturday, May 2nd. DZ Bank upgraded Astrazeneca from a "neutral" rating to a "buy" rating in a report on Wednesday, April 29th. Finally, JPMorgan Chase & Co. restated a "buy" rating on shares of Astrazeneca in a research report on Tuesday, June 30th. Thirteen investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Astrazeneca presently has a consensus rating of "Moderate Buy" and an average price target of $211.00.

Astrazeneca Company Profile

AstraZeneca plc is a global biopharmaceutical company headquartered in Cambridge, England. Formed through the 1999 merger of Sweden’s Astra AB and the UK’s Zeneca Group, the company researches, develops, manufactures and commercializes prescription medicines across a range of therapeutic areas. AstraZeneca positions itself as R&D-driven, investing in discovery science, clinical development and regulatory processes to bring new therapies to market.

The company’s commercial portfolio and late-stage pipeline emphasize oncology, cardiovascular, renal and metabolic (CVRM) diseases, and respiratory and immunology.

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