Bank Pictet & Cie Europe AG Purchases 250,755 Shares of Astrazeneca Plc $AZN

Bank Pictet & Cie Europe AG grew its position in shares of Astrazeneca Plc (NYSE:AZN) by 1,101.8% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 273,514 shares of the company’s stock after acquiring an additional 250,755 shares during the quarter. Astrazeneca comprises 0.8% of Bank Pictet & Cie Europe AG’s portfolio, making the stock its 29th biggest position. Bank Pictet & Cie Europe AG’s holdings in Astrazeneca were worth $44,619,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Mascoma Wealth Management LLC acquired a new position in shares of Astrazeneca in the 1st quarter valued at about $26,000. MV Capital Management Inc. acquired a new position in Astrazeneca during the fourth quarter valued at approximately $26,000. Roxbury Financial LLC acquired a new position in Astrazeneca during the second quarter valued at approximately $29,000. Reflection Asset Management acquired a new position in Astrazeneca during the fourth quarter valued at approximately $31,000. Finally, Resources Management Corp CT ADV purchased a new stake in Astrazeneca during the first quarter worth approximately $35,000. 20.35% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on AZN shares. JPMorgan Chase & Co. reissued a “buy” rating on shares of Astrazeneca in a research report on Tuesday, June 30th. Bank of America reissued a “buy” rating on shares of Astrazeneca in a research note on Wednesday, July 1st. The Goldman Sachs Group restated a “buy” rating on shares of Astrazeneca in a report on Wednesday, July 1st. HSBC cut shares of Astrazeneca from a “buy” rating to a “hold” rating in a research report on Monday, July 13th. Finally, Royal Bank Of Canada assumed coverage on Astrazeneca in a research report on Tuesday, September 8th. They issued an “outperform” rating on the stock. Fifteen analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $206.67.

Astrazeneca Stock Up 2.9%

Astrazeneca stock traded up $4.67 during midday trading on Tuesday, hitting $168.62. 1,646,226 shares of the company were exchanged, compared to its average volume of 2,806,130. The company has a market cap of $261.52 billion, a PE ratio of 25.19, a price-to-earnings-growth ratio of 1.40 and a beta of 0.27. Astrazeneca Plc has a fifty-two week low of $153.41 and a fifty-two week high of $212.71. The company’s fifty day moving average price is $162.20 and its 200-day moving average price is $175.70. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.89 and a quick ratio of 0.67.

Astrazeneca (NYSE:AZN) last issued its quarterly earnings data on Monday, July 27th. The company reported $2.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.50 by $0.13. The company had revenue of $15.38 billion during the quarter, compared to the consensus estimate of $15.44 billion. Astrazeneca had a net margin of 17.02% and a return on equity of 31.45%. Astrazeneca’s revenue for the quarter was up 6.4% on a year-over-year basis. During the same quarter last year, the company earned $2.17 earnings per share. On average, research analysts predict that Astrazeneca Plc will post 9.38 EPS for the current fiscal year.

Astrazeneca Profile

AstraZeneca plc is a global, science-led biopharmaceutical company headquartered in Cambridge, United Kingdom. The company discovers, develops and commercializes prescription medicines, with a focus on oncology, biopharmaceuticals and rare diseases. Its research and commercial operations serve patients and healthcare systems across more than 100 countries.

AstraZeneca’s portfolio includes medicines for cancer, respiratory and immune-mediated conditions, cardiovascular, renal and metabolic diseases, and rare disorders.