BI Asset Management Fondsmaeglerselskab A S Sells 39,950 Shares of AstraZeneca PLC $AZN

BI Asset Management Fondsmaeglerselskab A S decreased its stake in AstraZeneca PLC (NASDAQ:AZN) by 5.6% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 677,594 shares of the company’s stock after selling 39,950 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S’s holdings in AstraZeneca were worth $48,715,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. NewSquare Capital LLC lifted its holdings in AstraZeneca by 149.3% during the 2nd quarter. NewSquare Capital LLC now owns 364 shares of the company’s stock valued at $25,000 after purchasing an additional 218 shares during the last quarter. Richardson Financial Services Inc. increased its holdings in shares of AstraZeneca by 59.8% during the second quarter. Richardson Financial Services Inc. now owns 398 shares of the company’s stock worth $28,000 after buying an additional 149 shares in the last quarter. Rakuten Investment Management Inc. bought a new position in shares of AstraZeneca in the third quarter valued at approximately $31,000. E Fund Management Hong Kong Co. Ltd. boosted its holdings in shares of AstraZeneca by 144.0% in the 3rd quarter. E Fund Management Hong Kong Co. Ltd. now owns 466 shares of the company’s stock worth $36,000 after acquiring an additional 275 shares in the last quarter. Finally, VSM Wealth Advisory LLC bought a new stake in AstraZeneca during the 2nd quarter worth approximately $33,000. 20.35% of the stock is currently owned by institutional investors and hedge funds.

AstraZeneca Stock Up 1.8%

Shares of NASDAQ:AZN opened at $187.68 on Thursday. The company has a 50 day moving average of $97.93 and a 200-day moving average of $86.84. AstraZeneca PLC has a one year low of $61.24 and a one year high of $192.79. The stock has a market cap of $582.15 billion, a price-to-earnings ratio of 62.35, 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 released 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. The firm had revenue of $15.19 billion during the quarter, compared to analyst estimates of $14.75 billion. AstraZeneca had a net margin of 16.17% and a return on equity of 32.89%. The business’s quarterly revenue was up 12.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.08 EPS. On average, sell-side analysts forecast that AstraZeneca PLC will post 4.51 earnings per share for the current year.

Analysts Set New Price Targets

Several equities analysts have issued reports on AZN shares. HSBC reiterated a “buy” rating and issued a $108.00 price objective on shares of AstraZeneca in a research report on Wednesday, December 10th. Guggenheim reiterated a “buy” rating on shares of AstraZeneca in a research report on Wednesday, December 3rd. Barclays restated an “overweight” rating on shares of AstraZeneca in a research report on Tuesday, January 6th. TD Cowen reiterated a “buy” rating on shares of AstraZeneca in a research report on Tuesday, December 9th. Finally, Deutsche Bank Aktiengesellschaft reissued a “sell” rating on shares of AstraZeneca in a report on Friday, January 16th. Ten investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $95.75.

AstraZeneca Profile

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.