Fred Alger Management LLC Has $6.46 Million Stake in AstraZeneca PLC (NASDAQ:AZN)

Fred Alger Management LLC reduced its stake in AstraZeneca PLC (NASDAQ:AZN) by 72.4% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 98,631 shares of the company’s stock after selling 258,983 shares during the quarter. Fred Alger Management LLC’s holdings in AstraZeneca were worth $6,462,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the stock. Banque Transatlantique SA acquired a new position in shares of AstraZeneca during the 4th quarter worth about $26,000. Albion Financial Group UT boosted its position in shares of AstraZeneca by 68.9% in the fourth quarter. Albion Financial Group UT now owns 608 shares of the company’s stock valued at $40,000 after acquiring an additional 248 shares during the period. CoreCap Advisors LLC grew its stake in shares of AstraZeneca by 31.8% in the fourth quarter. CoreCap Advisors LLC now owns 642 shares of the company’s stock worth $42,000 after acquiring an additional 155 shares during the last quarter. Crews Bank & Trust bought a new position in AstraZeneca during the fourth quarter worth $55,000. Finally, Golden State Wealth Management LLC acquired a new position in AstraZeneca during the 4th quarter valued at $55,000. Institutional investors own 20.35% of the company’s stock.

Wall Street Analyst Weigh In

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

AstraZeneca Stock Up 0.4 %

Shares of AZN opened at $67.57 on Friday. The company has a quick ratio of 0.74, a current ratio of 0.93 and a debt-to-equity ratio of 0.65. The company has a 50-day moving average price of $71.33 and a two-hundred day moving average price of $69.75. The stock has a market cap of $209.55 billion, a price-to-earnings ratio of 29.90, a P/E/G 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.

AstraZeneca (NASDAQ:AZN) last announced 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. AstraZeneca had a return on equity of 32.23% and a net margin of 13.01%. The business had revenue of $13.59 billion for the quarter, compared to analyst estimates of $13.71 billion. During the same quarter in the previous year, the firm earned $2.06 EPS. AstraZeneca’s quarterly revenue was up 7.2% on a year-over-year basis. Equities analysts predict that AstraZeneca PLC will post 4.51 EPS for the current fiscal 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.