Value Partners Investments Inc. Buys New Shares in Astrazeneca Plc $AZN

Value Partners Investments Inc. bought a new position in Astrazeneca Plc (NYSE:AZN) during the first quarter, according to the company in its most recent filing with the SEC. The firm bought 58,415 shares of the company’s stock, valued at approximately $11,331,000. Astrazeneca accounts for approximately 0.9% of Value Partners Investments Inc.’s investment portfolio, making the stock its 23rd biggest holding.

Several other hedge funds have also added to or reduced their stakes in the business. Bank of America Corp DE increased its holdings in shares of Astrazeneca by 4.7% in the third quarter. Bank of America Corp DE now owns 32,633,139 shares of the company’s stock worth $2,503,614,000 after buying an additional 1,461,786 shares during the period. Fisher Asset Management LLC boosted its holdings in Astrazeneca by 2.1% during the 4th quarter. Fisher Asset Management LLC now owns 21,601,433 shares of the company’s stock valued at $3,791,051,000 after acquiring an additional 438,709 shares during the period. Franklin Resources Inc. grew its position in Astrazeneca by 2.3% during the 4th quarter. Franklin Resources Inc. now owns 20,157,744 shares of the company’s stock worth $3,537,684,000 after acquiring an additional 445,014 shares during the last quarter. Morgan Stanley grew its position in Astrazeneca by 3.2% during the 4th quarter. Morgan Stanley now owns 13,878,726 shares of the company’s stock worth $2,435,716,000 after acquiring an additional 432,939 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in Astrazeneca by 9.4% in the 3rd quarter. Dimensional Fund Advisors LP now owns 6,805,896 shares of the company’s stock worth $521,517,000 after purchasing an additional 582,183 shares during the period. 20.35% of the stock is owned by institutional investors.

Astrazeneca Price Performance

AZN opened at $188.58 on Friday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.71 and a current ratio of 0.91. The stock has a market capitalization of $292.47 billion, a PE ratio of 28.32, a price-to-earnings-growth ratio of 1.61 and a beta of 0.25. The stock’s 50 day moving average price is $184.66 and its 200-day moving average price is $186.93. Astrazeneca Plc has a 52-week low of $137.23 and a 52-week high of $212.71.

Astrazeneca (NYSE:AZN) last released its quarterly earnings results 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. Astrazeneca had a net margin of 17.19% and a return on equity of 30.86%. The business had revenue of $15.29 billion for the quarter, compared to analysts’ expectations of $14.93 billion. On average, equities research analysts predict that Astrazeneca Plc will post 9.39 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. Deutsche Bank Aktiengesellschaft reissued a “sell” rating on shares of Astrazeneca in a research note on Tuesday, June 9th. DZ Bank upgraded shares of Astrazeneca from a “neutral” rating to a “buy” rating in a report on Wednesday, April 29th. JPMorgan Chase & Co. reissued a “buy” rating on shares of Astrazeneca in a research report on Tuesday, June 9th. Jefferies Financial Group reissued a “buy” rating on shares of Astrazeneca in a report on Friday. Finally, UBS Group reaffirmed a “buy” rating on shares of Astrazeneca in a research note on Friday, April 10th. Twelve research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $205.33.

About Astrazeneca

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.