Thornburg Investment Management Inc. Acquires 32,775 Shares of Astrazeneca Plc $AZN

Key Points

• Thornburg Investment Management increased its AstraZeneca stake by 1.1%, purchasing 32,775 shares to reach 2.89 million shares valued at approximately $540.6 million. AstraZeneca represents 5.2% of Thornburg’s portfolio, while institutional investors collectively own 20.35% of the company.
• AstraZeneca reported quarterly earnings of $2.63 per share, exceeding estimates of $2.50, while revenue rose 6.4% year over year to $15.38 billion, slightly below expectations.
• AZN recently traded at $162.83, below its 50-day and 200-day moving averages. Analysts maintain a consensus “Moderate Buy” rating with an average price target of $206.67, despite some recent downgrades to Hold or Sell.

Thornburg Investment Management Inc. lifted its holdings in Astrazeneca Plc (NYSE:AZN - Free Report) by 1.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,891,426 shares of the company's stock after purchasing an additional 32,775 shares during the period. Astrazeneca comprises about 5.2% of Thornburg Investment Management Inc.'s portfolio, making the stock its 6th largest holding. Thornburg Investment Management Inc. owned 0.19% of Astrazeneca worth $540,612,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of AZN. Mascoma Wealth Management LLC purchased a new stake in shares of Astrazeneca in the first quarter valued at approximately $26,000. MV Capital Management Inc. purchased a new position in shares of Astrazeneca during the 4th quarter valued at approximately $26,000. Roxbury Financial LLC purchased a new position in shares of Astrazeneca during the 2nd quarter valued at approximately $29,000. Reflection Asset Management acquired a new stake in Astrazeneca in the 4th quarter valued at $31,000. Finally, Resources Management Corp CT ADV purchased a new stake in Astrazeneca in the 1st quarter worth $35,000. Institutional investors and hedge funds own 20.35% of the company's stock.

Astrazeneca Price Performance

AZN stock opened at $162.83 on Friday. Astrazeneca Plc has a 1 year low of $145.79 and a 1 year high of $212.71. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.89 and a quick ratio of 0.67. The firm has a market capitalization of $252.53 billion, a PE ratio of 24.34, a price-to-earnings-growth ratio of 1.41 and a beta of 0.26. The business has a 50 day simple moving average of $171.23 and a 200-day simple moving average of $184.73.

Astrazeneca (NYSE:AZN - Get Free Report) last announced its quarterly earnings data on Monday, July 27th. The company reported $2.63 EPS for the quarter, topping analysts' consensus estimates of $2.50 by $0.13. The firm had revenue of $15.38 billion for the quarter, compared to the consensus estimate of $15.44 billion. Astrazeneca had a return on equity of 31.45% and a net margin of 17.02%.The firm's revenue was up 6.4% compared to the same quarter last year. During the same quarter last year, the business posted $2.17 earnings per share. Equities research analysts anticipate that Astrazeneca Plc will post 10.19 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

AZN has been the subject of a number of research analyst reports. Deutsche Bank Aktiengesellschaft restated a "sell" rating on shares of Astrazeneca in a research report on Tuesday, June 30th. HSBC cut shares of Astrazeneca from a "buy" rating to a "hold" rating in a research note on Monday, July 13th. Barclays restated a "buy" rating on shares of Astrazeneca in a research report on Monday, June 1st. Wall Street Zen cut Astrazeneca from a "buy" rating to a "hold" rating in a report on Saturday, August 1st. Finally, The Goldman Sachs Group reiterated a "buy" rating on shares of Astrazeneca in a research note on Wednesday, July 1st. Thirteen research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $206.67.

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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