AstraZeneca PLC $AZN Shares Bought by Primecap Management Co. CA

Primecap Management Co. CA increased its position in shares of AstraZeneca PLC (NASDAQ:AZN) by 1.3% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 41,200,091 shares of the company’s stock after buying an additional 538,606 shares during the quarter. AstraZeneca accounts for about 2.3% of Primecap Management Co. CA’s portfolio, making the stock its 9th biggest holding. Primecap Management Co. CA’s holdings in AstraZeneca were worth $2,879,062,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in AZN. SCS Capital Management LLC acquired a new position in shares of AstraZeneca during the 1st quarter worth about $3,066,000. Robbins Farley bought a new position in AstraZeneca in the second quarter valued at approximately $1,857,000. Oliver Luxxe Assets LLC raised its stake in shares of AstraZeneca by 6.0% during the 2nd quarter. Oliver Luxxe Assets LLC now owns 78,301 shares of the company’s stock worth $5,472,000 after purchasing an additional 4,449 shares in the last quarter. Jennison Associates LLC boosted its holdings in shares of AstraZeneca by 15.2% in the 2nd quarter. Jennison Associates LLC now owns 12,167,365 shares of the company’s stock valued at $850,255,000 after buying an additional 1,605,133 shares during the last quarter. Finally, Alhambra Investment Management LLC acquired a new position in AstraZeneca during the second quarter worth $320,000. 20.35% of the stock is owned by institutional investors.

AstraZeneca Stock Up 0.2%

Shares of NASDAQ AZN opened at $89.55 on Wednesday. AstraZeneca PLC has a 52 week low of $61.24 and a 52 week high of $90.27. The stock’s fifty day moving average is $82.45 and its 200 day moving average is $76.49. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.67 and a current ratio of 0.86. The stock has a market capitalization of $277.73 billion, a P/E ratio of 33.67, a PEG ratio of 1.52 and a beta of 0.34.

AstraZeneca (NASDAQ:AZN) last released its earnings results on Thursday, November 6th. The company reported $1.19 EPS for the quarter, beating the consensus estimate of $1.14 by $0.05. AstraZeneca had a net margin of 14.68% and a return on equity of 32.84%. The firm had revenue of $15.19 billion for the quarter, compared to analyst estimates of $14.75 billion. During the same period last year, the firm earned $2.08 EPS. The business’s quarterly revenue was up 12.0% compared to the same quarter last year. Sell-side analysts forecast that AstraZeneca PLC will post 4.51 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

AZN has been the subject of a number of analyst reports. Deutsche Bank Aktiengesellschaft downgraded shares of AstraZeneca from a “hold” rating to a “sell” rating in a research report on Thursday, October 16th. Jefferies Financial Group started coverage on AstraZeneca in a research report on Monday, October 27th. They set a “buy” rating on the stock. Finally, Weiss Ratings restated a “buy (b)” rating on shares of AstraZeneca in a research note on Wednesday, October 8th. Five equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, AstraZeneca currently has an average rating of “Moderate Buy” and a consensus price target of $86.00.

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.