Kornitzer Capital Management Inc. KS Increases Stake in AstraZeneca PLC $AZN

Kornitzer Capital Management Inc. KS lifted its stake in AstraZeneca PLC (NASDAQ:AZN) by 2.3% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 297,777 shares of the company’s stock after buying an additional 6,553 shares during the quarter. Kornitzer Capital Management Inc. KS’s holdings in AstraZeneca were worth $22,845,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of AZN. Primecap Management Co. CA boosted its holdings in shares of AstraZeneca by 1.3% during the 2nd quarter. Primecap Management Co. CA now owns 41,200,091 shares of the company’s stock valued at $2,879,062,000 after purchasing an additional 538,606 shares during the last quarter. Franklin Resources Inc. lifted its position in shares of AstraZeneca by 0.9% in the second quarter. Franklin Resources Inc. now owns 21,298,394 shares of the company’s stock worth $1,488,332,000 after buying an additional 196,401 shares in the last quarter. Fisher Asset Management LLC boosted its stake in AstraZeneca by 2.6% during the second quarter. Fisher Asset Management LLC now owns 20,695,979 shares of the company’s stock valued at $1,446,235,000 after buying an additional 530,520 shares during the last quarter. Jennison Associates LLC increased its stake in AstraZeneca by 15.2% in the 2nd quarter. Jennison Associates LLC now owns 12,167,365 shares of the company’s stock worth $850,255,000 after acquiring an additional 1,605,133 shares during the last quarter. Finally, Ameriprise Financial Inc. raised its holdings in shares of AstraZeneca by 2.1% during the 2nd quarter. Ameriprise Financial Inc. now owns 5,046,992 shares of the company’s stock worth $351,734,000 after acquiring an additional 104,625 shares in the last quarter. 20.35% of the stock is currently owned by institutional investors.

AstraZeneca Trading Up 1.4%

AZN stock opened at $94.23 on Tuesday. AstraZeneca PLC has a 12 month low of $61.24 and a 12 month high of $96.51. The firm’s 50-day moving average is $91.97 and its 200 day moving average is $83.84. The company has a market capitalization of $292.28 billion, a PE ratio of 31.31, a P/E/G ratio of 1.59 and a beta of 0.34. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.88 and a quick ratio of 0.69.

AstraZeneca (NASDAQ:AZN) last issued its earnings results on Thursday, November 6th. The company reported $1.19 EPS for the quarter, topping analysts’ consensus estimates of $1.14 by $0.05. AstraZeneca had a net margin of 16.17% and a return on equity of 32.89%. The business had revenue of $15.19 billion for the quarter, compared to the consensus estimate of $14.75 billion. During the same period in the prior year, the firm earned $2.08 EPS. The company’s revenue for the quarter was up 12.0% compared to the same quarter last year. On average, research analysts anticipate that AstraZeneca PLC will post 4.51 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on AZN shares. Citigroup started coverage on shares of AstraZeneca in a report on Tuesday. They issued a “buy” rating for the company. TD Cowen reaffirmed a “buy” rating on shares of AstraZeneca in a report on Tuesday, December 9th. Morgan Stanley reissued an “overweight” rating and set a $103.00 price objective on shares of AstraZeneca in a research note on Wednesday, December 3rd. Barclays reaffirmed an “overweight” rating on shares of AstraZeneca in a research note on Tuesday, January 6th. Finally, HSBC restated a “buy” rating and set a $108.00 price target on shares of AstraZeneca in a report on Wednesday, December 10th. Ten investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus 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.