SCS Capital Management LLC Reduces Stock Position in Astrazeneca Plc $AZN

SCS Capital Management LLC cut its holdings in shares of Astrazeneca Plc (NYSE:AZN) by 82.5% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 32,056 shares of the company’s stock after selling 151,551 shares during the period. SCS Capital Management LLC’s holdings in Astrazeneca were worth $5,626,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Cibc World Market Inc. lifted its position in Astrazeneca by 21.5% during the third quarter. Cibc World Market Inc. now owns 64,421 shares of the company’s stock valued at $4,942,000 after purchasing an additional 11,398 shares during the period. TD Asset Management Inc lifted its position in Astrazeneca by 20.0% during the third quarter. TD Asset Management Inc now owns 1,089,612 shares of the company’s stock valued at $83,595,000 after purchasing an additional 181,273 shares during the period. AMG National Trust Bank increased its holdings in Astrazeneca by 20.4% in the third quarter. AMG National Trust Bank now owns 42,983 shares of the company’s stock valued at $3,298,000 after buying an additional 7,289 shares in the last quarter. Assetmark Inc. increased its holdings in Astrazeneca by 6.5% in the third quarter. Assetmark Inc. now owns 310,383 shares of the company’s stock valued at $23,813,000 after buying an additional 19,020 shares in the last quarter. Finally, US Bancorp DE increased its holdings in Astrazeneca by 6.6% in the third quarter. US Bancorp DE now owns 242,181 shares of the company’s stock valued at $18,581,000 after buying an additional 15,065 shares in the last quarter. 20.35% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

AZN has been the subject of a number of recent analyst reports. Jefferies Financial Group reaffirmed a “buy” rating on shares of Astrazeneca in a report on Wednesday, May 13th. TD Cowen reaffirmed a “buy” rating on shares of Astrazeneca in a report on Wednesday, March 18th. Morgan Stanley reaffirmed an “overweight” rating on shares of Astrazeneca in a report on Wednesday, April 8th. Sanford C. Bernstein reaffirmed a “buy” rating on shares of Astrazeneca in a report on Monday, May 4th. Finally, UBS Group reaffirmed a “buy” rating on shares of Astrazeneca in a report on Friday, April 10th. Twelve 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, Astrazeneca presently has an average rating of “Moderate Buy” and a consensus target price of $205.33.

Astrazeneca Trading Down 3.1%

Shares of Astrazeneca stock opened at $179.90 on Tuesday. The firm has a market capitalization of $279.01 billion, a PE ratio of 27.01, a P/E/G ratio of 1.48 and a beta of 0.25. Astrazeneca Plc has a twelve month low of $137.23 and a twelve month high of $212.71. The firm’s 50-day moving average price is $191.20 and its 200 day moving average price is $184.28. The company has a current ratio of 0.91, a quick ratio of 0.71 and a debt-to-equity ratio of 0.52.

Astrazeneca (NYSE:AZN) last announced its quarterly earnings data on Wednesday, April 29th. The company reported $2.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.52 by $0.06. Astrazeneca had a net margin of 17.19% and a return on equity of 30.86%. The company had revenue of $15.29 billion during the quarter, compared to analysts’ expectations of $14.93 billion. On average, sell-side analysts predict that Astrazeneca Plc will post 10.26 EPS for the current fiscal year.

Astrazeneca Profile

AstraZeneca plc is a global 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 positions itself as R&D-driven, investing in discovery science, clinical development and regulatory processes to bring new therapies to market.

The company’s commercial portfolio and late-stage pipeline emphasize oncology, cardiovascular, renal and metabolic (CVRM) diseases, and respiratory and immunology.