Astrazeneca Plc $AZN Stock Position Raised by LGT Fund Management Co Ltd.

LGT Fund Management Co Ltd. grew its stake in shares of Astrazeneca Plc (NYSE:AZN) by 160.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 103,991 shares of the company’s stock after purchasing an additional 64,033 shares during the period. Astrazeneca comprises about 0.9% of LGT Fund Management Co Ltd.’s holdings, making the stock its 20th biggest holding. LGT Fund Management Co Ltd.’s holdings in Astrazeneca were worth $20,203,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the stock. IHT Wealth Management LLC boosted its holdings in shares of Astrazeneca by 0.3% in the fourth quarter. IHT Wealth Management LLC now owns 17,527 shares of the company’s stock worth $3,076,000 after buying an additional 54 shares during the period. Visionary Wealth Advisors lifted its position in shares of Astrazeneca by 1.5% in the 4th quarter. Visionary Wealth Advisors now owns 4,197 shares of the company’s stock valued at $737,000 after acquiring an additional 60 shares in the last quarter. Vista Investment Management lifted its position in shares of Astrazeneca by 0.3% in the 4th quarter. Vista Investment Management now owns 21,215 shares of the company’s stock valued at $3,723,000 after acquiring an additional 60 shares in the last quarter. Kestra Investment Management LLC boosted its stake in Astrazeneca by 1.9% in the 4th quarter. Kestra Investment Management LLC now owns 3,391 shares of the company’s stock worth $595,000 after purchasing an additional 63 shares during the period. Finally, Luken Investment Analytics LLC grew its position in Astrazeneca by 4.3% during the 4th quarter. Luken Investment Analytics LLC now owns 1,564 shares of the company’s stock worth $274,000 after purchasing an additional 64 shares in the last quarter. Hedge funds and other institutional investors own 20.35% of the company’s stock.

Analysts Set New Price Targets

AZN has been the topic of several recent analyst reports. Deutsche Bank Aktiengesellschaft reissued a “sell” rating on shares of Astrazeneca in a research note on Tuesday, June 30th. Bank of America reissued a “buy” rating on shares of Astrazeneca in a research report on Wednesday, July 1st. Wall Street Zen raised Astrazeneca from a “hold” rating to a “buy” rating in a research note on Saturday, May 2nd. Sanford C. Bernstein restated a “buy” rating on shares of Astrazeneca in a research report on Monday, May 4th. Finally, Morgan Stanley reaffirmed an “overweight” rating on shares of Astrazeneca in a research note on Wednesday, April 8th. Fourteen equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat, Astrazeneca currently has an average rating of “Moderate Buy” and a consensus target price of $211.00.

Astrazeneca News Roundup

Here are the key news stories impacting Astrazeneca this week:

• Negative Sentiment: Wainua’s Phase 3 failure removes a potential growth driver and raises concerns about AstraZeneca’s ability to expand successfully beyond oncology. Reuters: AstraZeneca-Ionis drug fails to meet main goal in late-stage heart disease trial
• Negative Sentiment: Several reports say the miss has hurt management credibility and triggered a sharp market selloff, with investors reassessing the value of AstraZeneca’s pipeline. Proactive Investors: AstraZeneca’s Wainua failure hurts credibility more than valuation, Jefferies warns
• Neutral Sentiment: Some analysts still maintained a constructive view, with Bernstein reportedly reiterating a buy rating despite the setback, suggesting the longer-term thesis is not fully broken. Globe and Mail/Bernstein note: AstraZeneca receives a Buy from Bernstein
• Negative Sentiment: Investor concern has also expanded into legal overhangs, with a pending investigation notice adding another source of pressure on the stock. PR Newswire: AstraZeneca Investigation Notice

Astrazeneca Stock Down 3.7%

Shares of Astrazeneca stock traded down $6.63 during trading on Friday, hitting $171.86. 3,594,756 shares of the stock traded hands, compared to its average volume of 2,047,245. The stock has a market cap of $266.54 billion, a P/E ratio of 25.80, a PEG ratio of 1.39 and a beta of 0.24. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.71 and a current ratio of 0.91. Astrazeneca Plc has a twelve month low of $137.23 and a twelve month high of $212.71. The company has a fifty day moving average price of $183.68 and a two-hundred day moving average price of $188.66.

Astrazeneca (NYSE:AZN) last issued its quarterly earnings data on Wednesday, April 29th. The company reported $2.58 earnings per share for the quarter, beating the consensus estimate of $2.52 by $0.06. The firm had revenue of $15.29 billion for the quarter, compared to analyst estimates of $14.93 billion. Astrazeneca had a net margin of 17.19% and a return on equity of 30.86%. Equities research analysts predict that Astrazeneca Plc will post 10.28 EPS for the current fiscal year.

Astrazeneca Company 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.