RB Capital Management LLC Decreases Stock Position in AstraZeneca PLC (NASDAQ:AZN)

RB Capital Management LLC lowered its stake in AstraZeneca PLC (NASDAQ:AZN) by 2.6% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 11,954 shares of the company’s stock after selling 314 shares during the quarter. RB Capital Management LLC’s holdings in AstraZeneca were worth $783,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of AZN. Bank of America Corp DE lifted its stake in AstraZeneca by 189.3% in the 4th quarter. Bank of America Corp DE now owns 24,026,966 shares of the company’s stock worth $1,574,247,000 after purchasing an additional 15,722,197 shares in the last quarter. Marshall Wace LLP purchased a new stake in AstraZeneca in the 4th quarter worth $254,018,000. Boston Partners lifted its stake in AstraZeneca by 9,985.6% in the 4th quarter. Boston Partners now owns 3,707,479 shares of the company’s stock worth $243,444,000 after purchasing an additional 3,670,719 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in shares of AstraZeneca during the 4th quarter valued at about $158,018,000. Finally, Alyeska Investment Group L.P. raised its position in shares of AstraZeneca by 220.8% during the 4th quarter. Alyeska Investment Group L.P. now owns 3,027,511 shares of the company’s stock valued at $198,363,000 after buying an additional 2,083,645 shares in the last quarter. Hedge funds and other institutional investors own 20.35% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on AZN. Morgan Stanley began coverage on shares of AstraZeneca in a research report on Wednesday, February 12th. They set an “overweight” rating on the stock. BNP Paribas began coverage on shares of AstraZeneca in a research report on Tuesday, April 15th. They set an “outperform” rating and a $75.00 target price on the stock. Finally, UBS Group upgraded shares of AstraZeneca from a “neutral” rating to a “buy” rating in a research report on Thursday, February 13th. One research analyst has rated the stock with a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $88.00.

AstraZeneca Stock Performance

Shares of NASDAQ:AZN opened at $69.68 on Thursday. The company has a market capitalization of $216.09 billion, a price-to-earnings ratio of 30.83, a PEG ratio of 1.42 and a beta of 0.40. AstraZeneca PLC has a 12 month low of $61.24 and a 12 month high of $87.68. The firm’s 50-day moving average is $70.06 and its 200 day moving average is $69.43. The company has a current ratio of 0.93, a quick ratio of 0.74 and a debt-to-equity ratio of 0.65.

AstraZeneca (NASDAQ:AZN) last issued its quarterly earnings results on Tuesday, April 29th. The company reported $1.24 EPS for the quarter, beating the consensus estimate of $1.10 by $0.14. The company had revenue of $13.59 billion for the quarter, compared to the consensus estimate of $13.71 billion. AstraZeneca had a net margin of 13.01% and a return on equity of 32.23%. The firm’s revenue was up 7.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.06 EPS. Research analysts predict that AstraZeneca PLC will post 4.51 EPS for the current year.

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.