VELA Investment Management LLC Reduces Stake in AstraZeneca PLC (NASDAQ:AZN)

VELA Investment Management LLC lowered its stake in shares of AstraZeneca PLC (NASDAQ:AZN) by 6.4% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 14,539 shares of the company’s stock after selling 994 shares during the period. VELA Investment Management LLC’s holdings in AstraZeneca were worth $1,133,000 as of its most recent filing with the SEC.

Several other institutional investors also recently bought and sold shares of the stock. Stratos Wealth Advisors LLC lifted its stake in shares of AstraZeneca by 2.0% in the third quarter. Stratos Wealth Advisors LLC now owns 6,699 shares of the company’s stock worth $522,000 after buying an additional 133 shares in the last quarter. Bruce G. Allen Investments LLC raised its holdings in AstraZeneca by 19.1% in the 2nd quarter. Bruce G. Allen Investments LLC now owns 860 shares of the company’s stock valued at $67,000 after buying an additional 138 shares during the period. Carnegie Investment Counsel lifted its position in AstraZeneca by 0.8% in the second quarter. Carnegie Investment Counsel now owns 17,269 shares of the company’s stock valued at $1,347,000 after buying an additional 138 shares during the last quarter. CANADA LIFE ASSURANCE Co boosted its stake in AstraZeneca by 40.6% during the first quarter. CANADA LIFE ASSURANCE Co now owns 506 shares of the company’s stock worth $34,000 after buying an additional 146 shares during the period. Finally, Sunpointe LLC increased its position in shares of AstraZeneca by 4.5% during the second quarter. Sunpointe LLC now owns 3,419 shares of the company’s stock valued at $267,000 after acquiring an additional 147 shares during the last quarter. 20.35% of the stock is currently owned by hedge funds and other institutional investors.

AstraZeneca Stock Up 0.4 %

Shares of NASDAQ:AZN traded up $0.27 during trading on Friday, hitting $71.42. The company’s stock had a trading volume of 3,474,414 shares, compared to its average volume of 3,430,014. The company has a market capitalization of $221.44 billion, a PE ratio of 34.50, a P/E/G ratio of 1.32 and a beta of 0.47. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.69 and a current ratio of 0.89. AstraZeneca PLC has a fifty-two week low of $60.47 and a fifty-two week high of $87.68. The business has a 50 day moving average price of $79.17 and a two-hundred day moving average price of $78.60.

Analyst Ratings Changes

Several equities analysts have recently commented on AZN shares. TD Cowen upped their price objective on shares of AstraZeneca from $90.00 to $95.00 and gave the stock a “buy” rating in a report on Monday, August 12th. Deutsche Bank Aktiengesellschaft cut AstraZeneca from a “hold” rating to a “sell” rating in a research note on Friday, September 13th. Finally, Erste Group Bank upgraded AstraZeneca from a “hold” rating to a “buy” rating in a report on Wednesday, September 11th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, seven have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $89.75.

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.