Jennison Associates LLC Cuts Stock Position in AstraZeneca PLC (NASDAQ:AZN)

Jennison Associates LLC lowered its position in AstraZeneca PLC (NASDAQ:AZN) by 2.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,276,282 shares of the company’s stock after selling 456,260 shares during the quarter. Jennison Associates LLC owned 0.56% of AstraZeneca worth $1,170,468,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Anchor Investment Management LLC acquired a new stake in AstraZeneca during the 4th quarter valued at $26,000. Compagnie Lombard Odier SCmA bought a new stake in AstraZeneca during the fourth quarter worth approximately $27,000. Able Wealth Management LLC acquired a new position in AstraZeneca in the 4th quarter valued at $27,000. Pin Oak Investment Advisors Inc. grew its position in shares of AstraZeneca by 468.4% in the fourth quarter. Pin Oak Investment Advisors Inc. now owns 449 shares of the company’s stock valued at $30,000 after purchasing an additional 370 shares during the last quarter. Finally, Jones Financial Companies Lllp lifted its holdings in shares of AstraZeneca by 86.7% during the fourth quarter. Jones Financial Companies Lllp now owns 506 shares of the company’s stock worth $34,000 after buying an additional 235 shares during the last quarter. 20.35% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

AZN has been the subject of several analyst reports. Citigroup upgraded shares of AstraZeneca to a “strong-buy” rating in a research report on Monday, June 24th. Deutsche Bank Aktiengesellschaft raised shares of AstraZeneca from a “sell” rating to a “hold” rating in a research report on Tuesday, April 16th. Barclays upgraded AstraZeneca to a “strong-buy” rating in a research note on Monday, June 24th. The Goldman Sachs Group initiated coverage on AstraZeneca in a research note on Thursday, May 30th. They issued a “buy” rating and a $97.00 price objective on the stock. Finally, Argus upped their price target on shares of AstraZeneca from $80.00 to $85.00 and gave the company a “buy” rating in a research note on Thursday, May 30th. Three research analysts have rated the stock with a hold rating, six have issued a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $88.00.

AstraZeneca Stock Performance

Shares of NASDAQ AZN traded down $0.21 during midday trading on Monday, reaching $77.13. The company had a trading volume of 2,696,554 shares, compared to its average volume of 5,477,148. The business’s 50-day simple moving average is $78.03 and its 200 day simple moving average is $70.91. The stock has a market cap of $239.14 billion, a P/E ratio of 37.81, a P/E/G ratio of 1.39 and a beta of 0.45. AstraZeneca PLC has a 1 year low of $60.47 and a 1 year high of $80.86. The company has a current ratio of 0.89, a quick ratio of 0.70 and a debt-to-equity ratio of 0.73.

AstraZeneca (NASDAQ:AZN) last announced its quarterly earnings results on Thursday, April 25th. The company reported $1.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.95 by $0.08. The business had revenue of $12.68 billion during the quarter, compared to the consensus estimate of $11.92 billion. AstraZeneca had a net margin of 13.30% and a return on equity of 30.42%. On average, analysts forecast that AstraZeneca PLC will post 4.04 earnings per share for the current fiscal year.

AstraZeneca Company Profile

AstraZeneca PLC, a biopharmaceutical company, focuses on the discovery, development, manufacture, and commercialization of prescription medicines. The company's marketed products include Tagrisso, Imfinzi, Lynparza, Calquence, Enhertu, Orpathys, Truqap, Zoladex, Faslodex, Farxiga, Brilinta, Lokelma, Roxadustat, Andexxa, Crestor, Seloken, Onglyza, Bydureon, Fasenra, Breztri, Symbicort, Saphnelo, Tezspire, Pulmicort, Bevespi, and Daliresp for cardiovascular, renal, metabolism, and oncology.