Jennison Associates LLC Sells 2,698,901 Shares of Astrazeneca Plc $AZN

Jennison Associates LLC decreased its holdings in Astrazeneca Plc (NYSE:AZN) by 80.3% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 663,945 shares of the company’s stock after selling 2,698,901 shares during the period. Jennison Associates LLC’s holdings in Astrazeneca were worth $130,943,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. Aurora Investment Counsel bought a new position in Astrazeneca in the 1st quarter worth about $2,531,000. Clifford Swan Investment Counsel LLC bought a new stake in shares of Astrazeneca during the first quarter valued at approximately $204,000. Quadrant Private Wealth Management LLC bought a new stake in shares of Astrazeneca during the first quarter valued at approximately $241,000. Zhang Financial LLC purchased a new stake in shares of Astrazeneca in the first quarter valued at approximately $448,000. Finally, Modera Wealth Management LLC purchased a new stake in shares of Astrazeneca in the first quarter valued at approximately $304,000. 20.35% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

AZN has been the topic of several research reports. The Goldman Sachs Group restated a “buy” rating on shares of Astrazeneca in a report on Wednesday, July 1st. DZ Bank upgraded Astrazeneca from a “neutral” rating to a “buy” rating in a report on Wednesday, April 29th. Bank of America reissued a “buy” rating on shares of Astrazeneca in a research report on Wednesday, July 1st. Barclays restated a “buy” rating on shares of Astrazeneca in a research note on Monday, June 1st. Finally, HSBC lowered shares of Astrazeneca from a “buy” rating to a “hold” rating in a research note on Monday, July 13th. Thirteen investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $211.00.

Astrazeneca Stock Down 0.3%

Shares of NYSE AZN opened at $168.81 on Friday. The company has a current ratio of 0.91, a quick ratio of 0.71 and a debt-to-equity ratio of 0.52. The stock has a market capitalization of $261.82 billion, a PE ratio of 25.35, a price-to-earnings-growth ratio of 1.37 and a beta of 0.24. The stock’s fifty day simple moving average is $182.16 and its two-hundred day simple moving average is $188.43. Astrazeneca Plc has a 12-month low of $137.23 and a 12-month high of $212.71.

Astrazeneca (NYSE:AZN) last released its quarterly earnings results on Wednesday, April 29th. The company reported $2.58 EPS for the quarter, topping the consensus estimate of $2.52 by $0.06. The firm had revenue of $15.29 billion during the quarter, compared to analyst estimates of $14.93 billion. Astrazeneca had a return on equity of 30.86% and a net margin of 17.19%. As a group, analysts expect that Astrazeneca Plc will post 10.22 EPS for the current fiscal year.

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.