Astrazeneca Plc $AZN Stock: Bank Pictet & Cie Europe AG Increases Holdings

Bank Pictet & Cie Europe AG lifted its holdings in shares of Astrazeneca Plc (NYSE:AZN) by 1,101.8% during the third quarter, Holdings Channel reports. The fund owned 273,514 shares of the company’s stock after purchasing an additional 250,755 shares during the quarter. Astrazeneca accounts for 0.8% of Bank Pictet & Cie Europe AG’s investment portfolio, making the stock its 29th largest holding. Bank Pictet & Cie Europe AG’s holdings in Astrazeneca were worth $44,619,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Mascoma Wealth Management LLC acquired a new stake in Astrazeneca during the 1st quarter valued at approximately $26,000. MV Capital Management Inc. purchased a new stake in Astrazeneca during the 4th quarter worth approximately $26,000. Roxbury Financial LLC purchased a new stake in Astrazeneca during the 2nd quarter worth approximately $29,000. Reflection Asset Management acquired a new position in shares of Astrazeneca in the 4th quarter valued at approximately $31,000. Finally, Resources Management Corp CT ADV acquired a new position in shares of Astrazeneca in the 1st quarter valued at approximately $35,000. Hedge funds and other institutional investors own 20.35% of the company’s stock.

Astrazeneca Stock Performance

NYSE:AZN traded up $4.67 during trading hours on Tuesday, reaching $168.62. 1,646,226 shares of the stock were exchanged, compared to its average volume of 2,806,130. The stock has a market capitalization of $261.52 billion, a P/E ratio of 25.19, a P/E/G ratio of 1.40 and a beta of 0.27. The firm has a 50 day simple moving average of $162.20 and a 200-day simple moving average of $175.70. The company has a quick ratio of 0.67, a current ratio of 0.89 and a debt-to-equity ratio of 0.47. Astrazeneca Plc has a 52 week low of $153.41 and a 52 week high of $212.71.

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

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. JPMorgan Chase & Co. reiterated a “buy” rating on shares of Astrazeneca in a research note on Tuesday, June 30th. Jefferies Financial Group restated a “buy” rating on shares of Astrazeneca in a research note on Friday, June 26th. The Goldman Sachs Group restated a “buy” rating on shares of Astrazeneca in a research note on Wednesday, July 1st. Zacks Research raised shares of Astrazeneca from a “strong sell” rating to a “hold” rating in a report on Tuesday, October 13th. Finally, Citigroup reiterated a “buy” rating on shares of Astrazeneca in a research note on Tuesday, October 6th. Fifteen research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, Astrazeneca has a consensus rating of “Moderate Buy” and an average price target of $206.67.

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.