AstraZeneca PLC $AZN Shares Sold by QRG Capital Management Inc.

QRG Capital Management Inc. lessened its position in shares of AstraZeneca PLC (NASDAQ:AZN) by 31.4% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 147,483 shares of the company’s stock after selling 67,400 shares during the quarter. QRG Capital Management Inc.’s holdings in AstraZeneca were worth $11,315,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of AZN. Fayez Sarofim & Co boosted its position in AstraZeneca by 173.4% during the second quarter. Fayez Sarofim & Co now owns 3,745,902 shares of the company’s stock worth $261,764,000 after acquiring an additional 2,376,032 shares during the last quarter. Valeo Financial Advisors LLC lifted its stake in AstraZeneca by 14,797.3% in the 2nd quarter. Valeo Financial Advisors LLC now owns 2,322,638 shares of the company’s stock worth $162,306,000 after purchasing an additional 2,307,047 shares in the last quarter. Acadian Asset Management LLC boosted its holdings in shares of AstraZeneca by 2,389.9% during the 2nd quarter. Acadian Asset Management LLC now owns 2,043,850 shares of the company’s stock worth $142,798,000 after purchasing an additional 1,961,764 shares during the last quarter. Jennison Associates LLC grew its position in shares of AstraZeneca by 15.2% in the second quarter. Jennison Associates LLC now owns 12,167,365 shares of the company’s stock valued at $850,255,000 after purchasing an additional 1,605,133 shares in the last quarter. Finally, Raymond James Financial Inc. increased its holdings in shares of AstraZeneca by 64.8% in the second quarter. Raymond James Financial Inc. now owns 3,783,251 shares of the company’s stock valued at $264,373,000 after purchasing an additional 1,487,662 shares during the last quarter. 20.35% of the stock is owned by hedge funds and other institutional investors.

AstraZeneca Price Performance

AstraZeneca stock opened at $94.39 on Friday. The company’s 50 day simple moving average is $91.52 and its 200-day simple moving average is $82.83. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.69 and a current ratio of 0.88. AstraZeneca PLC has a 1 year low of $61.24 and a 1 year high of $96.51. The company has a market capitalization of $292.78 billion, a price-to-earnings ratio of 31.36, a price-to-earnings-growth ratio of 1.56 and a beta of 0.34.

AstraZeneca (NASDAQ:AZN) last posted its quarterly earnings data on Thursday, November 6th. The company reported $1.19 earnings per share for the quarter, topping analysts’ consensus estimates of $1.14 by $0.05. The firm had revenue of $15.19 billion during the quarter, compared to analysts’ expectations of $14.75 billion. AstraZeneca had a net margin of 16.17% and a return on equity of 32.89%. The firm’s quarterly revenue was up 12.0% on a year-over-year basis. During the same quarter last year, the company posted $2.08 EPS. As a group, equities research analysts expect that AstraZeneca PLC will post 4.51 earnings per share for the current year.

Analyst Ratings Changes

AZN has been the topic of a number of recent research reports. HSBC reissued a “buy” rating and set a $108.00 price objective on shares of AstraZeneca in a research note on Wednesday, December 10th. Wall Street Zen lowered shares of AstraZeneca from a “strong-buy” rating to a “buy” rating in a report on Saturday. Morgan Stanley reaffirmed an “overweight” rating and set a $103.00 target price on shares of AstraZeneca in a research note on Wednesday, December 3rd. Guggenheim reissued a “buy” rating on shares of AstraZeneca in a research note on Wednesday, December 3rd. Finally, Jefferies Financial Group started coverage on shares of AstraZeneca in a research report on Monday, October 27th. They set a “buy” rating on the stock. Nine investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $95.75.

About AstraZeneca

AstraZeneca is a global, science-led 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’s operations span research and development, large-scale manufacturing, and commercial distribution, with a presence in developed and emerging markets worldwide.

The company focuses on several core therapy areas including oncology, cardiovascular, renal and metabolism (CVRM), respiratory and immunology, and rare diseases.