Royal Bank of Canada Lowers Holdings in AstraZeneca PLC (NASDAQ:AZN)

Royal Bank of Canada reduced its stake in shares of AstraZeneca PLC (NASDAQ:AZN) by 2.3% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 2,432,811 shares of the company’s stock after selling 58,380 shares during the period. Royal Bank of Canada owned approximately 0.08% of AstraZeneca worth $159,398,000 at the end of the most recent quarter.

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

AstraZeneca Price Performance

Shares of AstraZeneca stock opened at $68.81 on Monday. The stock has a market capitalization of $213.40 billion, a P/E ratio of 30.45, a PEG ratio of 1.42 and a beta of 0.40. The business has a 50 day simple moving average of $70.46 and a two-hundred day simple moving average of $69.44. AstraZeneca PLC has a 12 month low of $61.24 and a 12 month high of $87.68. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.93 and a quick ratio of 0.74.

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

Wall Street Analyst Weigh In

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

About AstraZeneca

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.