Russell Investments Group Ltd. Cuts Holdings in AstraZeneca PLC (NASDAQ:AZN)

Russell Investments Group Ltd. trimmed its holdings in shares of AstraZeneca PLC (NASDAQ:AZNGet Rating) by 25.8% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 796,003 shares of the company’s stock after selling 276,674 shares during the period. Russell Investments Group Ltd.’s holdings in AstraZeneca were worth $43,649,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of AZN. Fairfield Bush & CO. purchased a new position in shares of AstraZeneca during the 1st quarter worth approximately $28,000. Panagora Asset Management Inc. increased its stake in AstraZeneca by 55.1% in the 1st quarter. Panagora Asset Management Inc. now owns 11,956 shares of the company’s stock valued at $793,000 after purchasing an additional 4,249 shares in the last quarter. BlackRock Inc. increased its stake in AstraZeneca by 22.0% in the 1st quarter. BlackRock Inc. now owns 7,466,492 shares of the company’s stock valued at $495,328,000 after purchasing an additional 1,343,939 shares in the last quarter. Great West Life Assurance Co. Can increased its stake in AstraZeneca by 102.7% in the 1st quarter. Great West Life Assurance Co. Can now owns 525 shares of the company’s stock valued at $36,000 after purchasing an additional 266 shares in the last quarter. Finally, Moors & Cabot Inc. increased its stake in AstraZeneca by 2.8% in the 1st quarter. Moors & Cabot Inc. now owns 10,841 shares of the company’s stock valued at $719,000 after purchasing an additional 292 shares in the last quarter. 16.42% of the stock is owned by hedge funds and other institutional investors.

AstraZeneca Stock Performance

Shares of NASDAQ:AZN opened at $66.28 on Wednesday. AstraZeneca PLC has a one year low of $52.65 and a one year high of $72.12. The company’s fifty day moving average is $68.30. The company has a current ratio of 0.81, a quick ratio of 0.61 and a debt-to-equity ratio of 0.65. The firm has a market cap of $205.39 billion, a PE ratio of 98.93, a PEG ratio of 1.24 and a beta of 0.53.

AstraZeneca (NASDAQ:AZNGet Rating) last posted its quarterly earnings data on Thursday, November 10th. The company reported $0.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.77 by $0.07. AstraZeneca had a return on equity of 29.40% and a net margin of 4.52%. The business had revenue of $10.98 billion for the quarter, compared to analysts’ expectations of $10.98 billion. As a group, equities research analysts predict that AstraZeneca PLC will post 3.33 earnings per share for the current fiscal year.

Analyst Ratings Changes

AZN has been the subject of several research analyst reports. BMO Capital Markets initiated coverage on AstraZeneca in a research note on Thursday, January 5th. They issued an “outperform” rating for the company. Deutsche Bank Aktiengesellschaft raised their price objective on AstraZeneca from £120 ($148.57) to £130 ($160.95) in a research note on Thursday, December 15th. JPMorgan Chase & Co. raised their price objective on AstraZeneca from £125 ($154.76) to £135 ($167.14) in a research note on Tuesday, January 3rd. TheStreet raised AstraZeneca from a “c” rating to an “a” rating in a research note on Monday, December 5th. Finally, StockNews.com assumed coverage on AstraZeneca in a research note on Wednesday, October 12th. They issued a “buy” rating for the company. One investment analyst has rated the stock with a sell rating, five have given a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $9,510.67.

About AstraZeneca

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AstraZeneca PLC, a biopharmaceutical company, focuses on the discovery, development, manufacturing, and commercialization of prescription medicines. Its marketed products include Calquence, Enhertu, Faslodex, Imfinzi, Iressa, Koselugo, Lumoxiti, Lynparza, Orpathys, Tagrisso, and Zoladex for oncology; Brilinta/Brilique, Bydureon/Byetta, BCise, Byetta, Crestor, Evrenzo, Farxiga/Forxiga, Komboglyze/Kombiglyze XR, Lokelma, Onglyza, Qtern, and Xigduo/Xigduo XR for cardiovascular, renal, and metabolism diseases; Bevespi Aerosphere, Breztri Aerosphere, Daliresp/Daxas, Duaklir Genuair, Fasenra, Pulmicort, Saphnelo, Symbicort, and Tudorza/Eklira/Bretaris for respiratory and immunology; and Andexxa/Ondexxya, Kanuma, Soliris, Strensiq, and Ultomiris for rare diseases.

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Institutional Ownership by Quarter for AstraZeneca (NASDAQ:AZN)

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