AstraZeneca PLC (NASDAQ:AZN) is Primecap Management Co. CA’s 7th Largest Position

Primecap Management Co. CA decreased its position in AstraZeneca PLC (NASDAQ:AZN) by 1.4% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 41,980,045 shares of the company’s stock after selling 617,190 shares during the period. AstraZeneca accounts for 2.4% of Primecap Management Co. CA’s holdings, making the stock its 7th largest position. Primecap Management Co. CA’s holdings in AstraZeneca were worth $3,270,665,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Martin Investment Management LLC increased its position in shares of AstraZeneca by 2.8% during the third quarter. Martin Investment Management LLC now owns 284,204 shares of the company’s stock valued at $22,571,000 after acquiring an additional 7,615 shares during the last quarter. Integrated Advisors Network LLC grew its stake in shares of AstraZeneca by 46.6% in the third quarter. Integrated Advisors Network LLC now owns 43,610 shares of the company’s stock valued at $3,398,000 after buying an additional 13,860 shares in the last quarter. Creative Planning lifted its stake in AstraZeneca by 8.0% during the 3rd quarter. Creative Planning now owns 224,751 shares of the company’s stock worth $17,510,000 after acquiring an additional 16,692 shares in the last quarter. Northcape Wealth Management LLC purchased a new position in AstraZeneca during the 2nd quarter valued at about $269,000. Finally, Cetera Advisors LLC increased its stake in AstraZeneca by 124.5% during the first quarter. Cetera Advisors LLC now owns 98,262 shares of the company’s stock worth $6,657,000 after purchasing an additional 54,488 shares during the period. Institutional investors and hedge funds own 20.35% of the company’s stock.

AstraZeneca Stock Down 0.9 %

AZN opened at $63.20 on Thursday. The business has a 50 day simple moving average of $73.99 and a 200-day simple moving average of $77.95. AstraZeneca PLC has a 12 month low of $60.47 and a 12 month high of $87.68. The stock has a market capitalization of $195.96 billion, a P/E ratio of 30.24, a P/E/G ratio of 1.17 and a beta of 0.47. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.93 and a quick ratio of 0.71.

AstraZeneca (NASDAQ:AZN) last issued its earnings results on Tuesday, November 12th. The company reported $1.04 earnings per share for the quarter, topping the consensus estimate of $1.01 by $0.03. The company had revenue of $13.57 billion for the quarter, compared to analyst estimates of $13.08 billion. AstraZeneca had a net margin of 12.68% and a return on equity of 30.01%. The firm’s revenue for the quarter was up 18.0% compared to the same quarter last year. During the same period in the prior year, the business posted $0.87 earnings per share. On average, equities analysts anticipate that AstraZeneca PLC will post 4.1 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

AZN has been the subject of several research reports. TD Cowen boosted their price target on shares of AstraZeneca from $90.00 to $95.00 and gave the stock a “buy” rating in a research note on Monday, August 12th. UBS Group upgraded shares of AstraZeneca from a “sell” rating to a “neutral” rating in a report on Wednesday. Erste Group Bank upgraded shares of AstraZeneca from a “hold” rating to a “buy” rating in a report on Wednesday, September 11th. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of AstraZeneca from a “sell” rating to a “hold” rating in a research note on Wednesday, November 6th. Three analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $89.75.

AstraZeneca Company Profile

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.