Pictet Asset Management Holding SA Makes New $675.26 Million Investment in Astrazeneca Plc $AZN

Pictet Asset Management Holding SA acquired a new position in shares of Astrazeneca Plc (NYSE:AZN) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 3,481,864 shares of the company’s stock, valued at approximately $675,263,000. Astrazeneca accounts for about 0.7% of Pictet Asset Management Holding SA’s holdings, making the stock its 24th largest holding.

A number of other large investors have also recently made changes to their positions in the stock. US Bancorp DE grew its stake in Astrazeneca by 6.6% during the 3rd quarter. US Bancorp DE now owns 242,181 shares of the company’s stock valued at $18,581,000 after purchasing an additional 15,065 shares during the last quarter. Natixis Advisors LLC grew its position in Astrazeneca by 14.3% during the 3rd quarter. Natixis Advisors LLC now owns 2,100,390 shares of the company’s stock worth $161,142,000 after purchasing an additional 262,465 shares during the period. Guardian Capital LP raised its stake in shares of Astrazeneca by 31.0% during the 3rd quarter. Guardian Capital LP now owns 83,074 shares of the company’s stock valued at $6,373,000 after buying an additional 19,648 shares during the last quarter. Legacy Capital Group California Inc. acquired a new position in shares of Astrazeneca in the 3rd quarter valued at about $406,000. Finally, Focus Partners Advisor Solutions LLC lifted its holdings in shares of Astrazeneca by 53.8% in the 3rd quarter. Focus Partners Advisor Solutions LLC now owns 10,307 shares of the company’s stock valued at $875,000 after buying an additional 3,604 shares during the period. 20.35% of the stock is owned by hedge funds and other institutional investors.

Astrazeneca Price Performance

Astrazeneca stock opened at $188.58 on Friday. The stock has a market cap of $292.47 billion, a P/E ratio of 28.32, a price-to-earnings-growth ratio of 1.64 and a beta of 0.25. The company has a fifty day simple moving average of $184.66 and a 200-day simple moving average of $187.05. Astrazeneca Plc has a 12-month low of $137.23 and a 12-month high of $212.71. The company has a current ratio of 0.91, a quick ratio of 0.71 and a debt-to-equity ratio of 0.52.

Astrazeneca (NYSE:AZN) last posted its earnings results on Wednesday, April 29th. The company reported $2.58 EPS for the quarter, beating the consensus estimate of $2.52 by $0.06. Astrazeneca had a return on equity of 30.86% and a net margin of 17.19%.The firm had revenue of $15.29 billion for the quarter, compared to analyst estimates of $14.93 billion. Equities analysts expect that Astrazeneca Plc will post 9.39 EPS for the current fiscal year.

Analyst Ratings Changes

AZN has been the subject of several recent research reports. Deutsche Bank Aktiengesellschaft reiterated a “sell” rating on shares of Astrazeneca in a research report on Tuesday, June 9th. Barclays reiterated a “buy” rating on shares of Astrazeneca in a research report on Monday, June 1st. Jefferies Financial Group reissued a “buy” rating on shares of Astrazeneca in a research note on Friday. Sanford C. Bernstein reissued a “buy” rating on shares of Astrazeneca in a research note on Monday, May 4th. Finally, Weiss Ratings lowered Astrazeneca from a “buy (b)” rating to a “buy (b-)” rating in a research report on Thursday, June 18th. Twelve investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $205.33.

Astrazeneca Profile

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.