QRG Capital Management Inc. Lowers Holdings in AstraZeneca PLC $AZN

QRG Capital Management Inc. reduced its holdings in shares of AstraZeneca PLC (NASDAQ:AZN) by 31.4% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 147,483 shares of the company’s stock after selling 67,400 shares during the period. QRG Capital Management Inc.’s holdings in AstraZeneca were worth $11,315,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in AZN. Fayez Sarofim & Co increased its holdings in shares of AstraZeneca by 173.4% in the second quarter. Fayez Sarofim & Co now owns 3,745,902 shares of the company’s stock valued at $261,764,000 after purchasing an additional 2,376,032 shares during the period. Valeo Financial Advisors LLC increased its stake in AstraZeneca by 14,797.3% in the 2nd quarter. Valeo Financial Advisors LLC now owns 2,322,638 shares of the company’s stock valued at $162,306,000 after buying an additional 2,307,047 shares during the period. Acadian Asset Management LLC raised its position in AstraZeneca by 2,389.9% during the 2nd quarter. Acadian Asset Management LLC now owns 2,043,850 shares of the company’s stock worth $142,798,000 after buying an additional 1,961,764 shares during the last quarter. Jennison Associates LLC raised its position in AstraZeneca by 15.2% during the 2nd quarter. Jennison Associates LLC now owns 12,167,365 shares of the company’s stock worth $850,255,000 after buying an additional 1,605,133 shares during the last quarter. Finally, Raymond James Financial Inc. lifted its stake in shares of AstraZeneca by 64.8% in the 2nd quarter. Raymond James Financial Inc. now owns 3,783,251 shares of the company’s stock worth $264,373,000 after acquiring an additional 1,487,662 shares during the period. Hedge funds and other institutional investors own 20.35% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on AZN shares. HSBC reiterated a “buy” rating and set a $108.00 price target on shares of AstraZeneca in a research note on Wednesday, December 10th. Guggenheim reissued a “buy” rating on shares of AstraZeneca in a report on Wednesday, December 3rd. Barclays reaffirmed an “overweight” rating on shares of AstraZeneca in a report on Tuesday, January 6th. Deutsche Bank Aktiengesellschaft restated a “sell” rating on shares of AstraZeneca in a research report on Friday. Finally, Wall Street Zen cut shares of AstraZeneca from a “strong-buy” rating to a “buy” rating in a research note on Saturday. Nine investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, AstraZeneca currently has a consensus rating of “Moderate Buy” and a consensus price target of $95.75.

AstraZeneca Stock Up 0.4%

AZN stock opened at $94.39 on Friday. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.88 and a quick ratio of 0.69. The company’s 50 day simple moving average is $91.52 and its 200-day simple moving average is $82.83. AstraZeneca PLC has a 12 month low of $61.24 and a 12 month high of $96.51. The firm has a market capitalization of $292.78 billion, a PE ratio of 31.36, a P/E/G ratio of 1.56 and a beta of 0.34.

AstraZeneca (NASDAQ:AZN) last announced its earnings results on Thursday, November 6th. The company reported $1.19 EPS for the quarter, beating analysts’ consensus estimates of $1.14 by $0.05. AstraZeneca had a return on equity of 32.89% and a net margin of 16.17%.The firm had revenue of $15.19 billion for the quarter, compared to analysts’ expectations of $14.75 billion. During the same quarter in the prior year, the firm earned $2.08 EPS. AstraZeneca’s quarterly revenue was up 12.0% on a year-over-year basis. Equities analysts expect that AstraZeneca PLC will post 4.51 earnings per share for the current fiscal year.

About AstraZeneca

AstraZeneca is a global, science-led 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’s operations span research and development, large-scale manufacturing, and commercial distribution, with a presence in developed and emerging markets worldwide.

The company focuses on several core therapy areas including oncology, cardiovascular, renal and metabolism (CVRM), respiratory and immunology, and rare diseases.