Sit Investment Associates Inc. Has $39.43 Million Stock Position in Astrazeneca Plc $AZN

Sit Investment Associates Inc. trimmed its position in Astrazeneca Plc (NYSE:AZN) by 5.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 224,675 shares of the company’s stock after selling 14,170 shares during the quarter. Astrazeneca makes up 0.8% of Sit Investment Associates Inc.’s portfolio, making the stock its 26th biggest position. Sit Investment Associates Inc.’s holdings in Astrazeneca were worth $39,430,000 at the end of the most recent reporting period.

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

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on AZN shares. Jefferies Financial Group restated a “buy” rating on shares of Astrazeneca in a research report on Tuesday. Wall Street Zen upgraded Astrazeneca from a “hold” rating to a “buy” rating in a report on Saturday, May 2nd. Barclays reiterated a “buy” rating on shares of Astrazeneca in a report on Monday, June 1st. UBS Group reiterated a “buy” rating on shares of Astrazeneca in a report on Friday, April 10th. Finally, TD Cowen reiterated a “buy” rating on shares of Astrazeneca in a report on Wednesday, March 18th. Twelve investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, Astrazeneca presently has a consensus rating of “Moderate Buy” and an average target price of $205.33.

Astrazeneca Trading Up 2.0%

NYSE:AZN opened at $182.48 on Friday. Astrazeneca Plc has a fifty-two week low of $137.23 and a fifty-two week high of $212.71. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.91 and a quick ratio of 0.71. The stock has a market capitalization of $283.00 billion, a PE ratio of 27.40, a price-to-earnings-growth ratio of 1.56 and a beta of 0.25. The business’s 50-day simple moving average is $189.75 and its 200-day simple moving average is $185.85.

Astrazeneca (NYSE:AZN) last released its quarterly earnings data on Wednesday, April 29th. The company reported $2.58 earnings per share for the quarter, beating the consensus estimate of $2.52 by $0.06. The business had revenue of $15.29 billion for the quarter, compared to analysts’ expectations of $14.93 billion. Astrazeneca had a return on equity of 30.86% and a net margin of 17.19%. Sell-side analysts expect that Astrazeneca Plc will post 9.37 earnings per share for the current fiscal year.

Astrazeneca Company 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.