Bamco Inc. NY Has $11.14 Million Stock Position in AstraZeneca PLC (NASDAQ:AZN)

Bamco Inc. NY lowered its position in shares of AstraZeneca PLC (NASDAQ:AZN) by 31.2% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 164,448 shares of the company’s stock after selling 74,439 shares during the quarter. Bamco Inc. NY’s holdings in AstraZeneca were worth $11,141,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Raymond James Financial Services Advisors Inc. raised its stake in shares of AstraZeneca by 43.7% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 163,011 shares of the company’s stock worth $10,979,000 after purchasing an additional 49,541 shares in the last quarter. Pacer Advisors Inc. boosted its holdings in shares of AstraZeneca by 6.2% in the 4th quarter. Pacer Advisors Inc. now owns 55,774 shares of the company’s stock valued at $3,756,000 after buying an additional 3,246 shares during the last quarter. PFG Investments LLC acquired a new stake in shares of AstraZeneca in the 4th quarter valued at approximately $217,000. Meadow Creek Wealth Advisors LLC acquired a new stake in shares of AstraZeneca in the 4th quarter valued at approximately $210,000. Finally, Clear Harbor Asset Management LLC boosted its holdings in shares of AstraZeneca by 16.7% in the 4th quarter. Clear Harbor Asset Management LLC now owns 4,025 shares of the company’s stock valued at $271,000 after buying an additional 575 shares during the last quarter. Institutional investors and hedge funds own 20.35% of the company’s stock.

AstraZeneca Stock Performance

Shares of AZN traded up $0.85 during midday trading on Monday, reaching $78.98. 2,940,708 shares of the stock were exchanged, compared to its average volume of 5,312,121. AstraZeneca PLC has a twelve month low of $60.47 and a twelve month high of $80.86. The company has a quick ratio of 0.69, a current ratio of 0.89 and a debt-to-equity ratio of 0.69. The company has a market cap of $244.88 billion, a P/E ratio of 38.30, a PEG ratio of 1.43 and a beta of 0.45. The stock’s 50 day simple moving average is $78.54 and its 200 day simple moving average is $71.96.

AstraZeneca (NASDAQ:AZN) last posted its earnings results on Thursday, July 25th. The company reported $0.99 earnings per share for the quarter, topping analysts’ consensus estimates of $0.98 by $0.01. AstraZeneca had a return on equity of 29.34% and a net margin of 13.11%. The company had revenue of $12.45 billion during the quarter, compared to the consensus estimate of $12.62 billion. During the same quarter last year, the firm earned $1.08 earnings per share. The company’s revenue was up 9.1% on a year-over-year basis. On average, sell-side analysts expect that AstraZeneca PLC will post 4.02 earnings per share for the current year.

AstraZeneca Cuts Dividend

The business also recently declared a Semi-Annual dividend, which will be paid on Monday, September 9th. Investors of record on Friday, August 9th will be given a $0.49 dividend. The ex-dividend date of this dividend is Friday, August 9th. AstraZeneca’s payout ratio is currently 94.61%.

Analysts Set New Price Targets

Several equities research analysts have recently commented on AZN shares. The Goldman Sachs Group started coverage on AstraZeneca in a report on Thursday, May 30th. They issued a “buy” rating and a $97.00 price objective for the company. Argus increased their price objective on AstraZeneca from $80.00 to $85.00 and gave the company a “buy” rating in a report on Thursday, May 30th. Barclays raised AstraZeneca to a “strong-buy” rating in a report on Monday, June 24th. Deutsche Bank Aktiengesellschaft raised AstraZeneca from a “sell” rating to a “hold” rating in a report on Tuesday, April 16th. Finally, BMO Capital Markets raised their price target on AstraZeneca from $80.00 to $82.00 and gave the company an “outperform” rating in a report on Friday, April 26th. Three equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $88.00.

About AstraZeneca

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.