First Republic Investment Management Inc. boosted its holdings in shares of AstraZeneca PLC (NASDAQ:AZN – Get Rating) by 96.3% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 382,432 shares of the company’s stock after purchasing an additional 187,563 shares during the period. First Republic Investment Management Inc.’s holdings in AstraZeneca were worth $20,973,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Dakota Wealth Management acquired a new stake in AstraZeneca during the 2nd quarter valued at $331,000. CWM LLC boosted its position in AstraZeneca by 24.7% in the 2nd quarter. CWM LLC now owns 11,780 shares of the company’s stock valued at $778,000 after buying an additional 2,336 shares during the last quarter. Great Diamond Partners LLC boosted its position in AstraZeneca by 29.6% in the 2nd quarter. Great Diamond Partners LLC now owns 8,243 shares of the company’s stock valued at $544,000 after buying an additional 1,883 shares during the last quarter. Sawtooth Solutions LLC boosted its position in AstraZeneca by 25.0% in the 2nd quarter. Sawtooth Solutions LLC now owns 27,893 shares of the company’s stock valued at $1,843,000 after buying an additional 5,576 shares during the last quarter. Finally, Envestnet Asset Management Inc. boosted its position in AstraZeneca by 7.3% in the 2nd quarter. Envestnet Asset Management Inc. now owns 1,019,439 shares of the company’s stock valued at $67,354,000 after buying an additional 69,258 shares during the last quarter. 16.42% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
A number of brokerages have commented on AZN. Guggenheim decreased their price objective on AstraZeneca from £120 ($148.57) to £118 ($146.09) in a research report on Tuesday, October 11th. Deutsche Bank Aktiengesellschaft increased their price objective on AstraZeneca from £120 ($148.57) to £130 ($160.95) in a research report on Thursday, December 15th. BMO Capital Markets assumed coverage on AstraZeneca in a research report on Thursday, January 5th. They issued an “outperform” rating on the stock. StockNews.com assumed coverage on AstraZeneca in a research report on Wednesday, October 12th. They issued a “buy” rating on the stock. Finally, Berenberg Bank raised their price target on AstraZeneca from GBX 118 ($1.46) to GBX 126 ($1.56) in a research report on Wednesday, January 18th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $9,510.67.
AstraZeneca Trading Down 2.0 %
AstraZeneca (NASDAQ:AZN – Get Rating) last posted its earnings results on Thursday, November 10th. The company reported $0.84 earnings per share for the quarter, topping the consensus estimate of $0.77 by $0.07. The firm had revenue of $10.98 billion for the quarter, compared to analyst estimates of $10.98 billion. AstraZeneca had a return on equity of 29.40% and a net margin of 4.52%. On average, analysts forecast that AstraZeneca PLC will post 3.33 earnings per share for the current year.
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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