Primecap Management Co. CA Trims Stake in AstraZeneca PLC (NASDAQ:AZN)

Primecap Management Co. CA decreased its position in AstraZeneca PLC (NASDAQ:AZN) by 1.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 41,980,045 shares of the company’s stock after selling 617,190 shares during the period. AstraZeneca makes up 2.4% of Primecap Management Co. CA’s holdings, making the stock its 7th biggest holding. Primecap Management Co. CA owned about 1.35% of AstraZeneca worth $3,270,665,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Price T Rowe Associates Inc. MD raised its stake in shares of AstraZeneca by 17.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 61,271,974 shares of the company’s stock valued at $4,151,177,000 after buying an additional 9,002,450 shares during the period. Capital World Investors grew its holdings in shares of AstraZeneca by 0.3% during the 1st quarter. Capital World Investors now owns 9,365,676 shares of the company’s stock worth $634,525,000 after acquiring an additional 29,497 shares during the period. Envestnet Asset Management Inc. increased its position in shares of AstraZeneca by 16.7% during the second quarter. Envestnet Asset Management Inc. now owns 3,417,933 shares of the company’s stock valued at $266,565,000 after acquiring an additional 488,644 shares in the last quarter. Clearbridge Investments LLC raised its holdings in shares of AstraZeneca by 5.8% during the second quarter. Clearbridge Investments LLC now owns 3,403,748 shares of the company’s stock valued at $265,458,000 after purchasing an additional 186,010 shares during the last quarter. Finally, Swedbank AB bought a new position in shares of AstraZeneca in the 1st quarter worth approximately $186,127,000. 20.35% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. UBS Group upgraded shares of AstraZeneca from a “sell” rating to a “neutral” rating in a research report on Wednesday. Deutsche Bank Aktiengesellschaft upgraded AstraZeneca from a “sell” rating to a “hold” rating in a research report on Wednesday, November 6th. Erste Group Bank upgraded AstraZeneca from a “hold” rating to a “buy” rating in a research report on Wednesday, September 11th. Finally, TD Cowen lifted their price target on AstraZeneca from $90.00 to $95.00 and gave the stock a “buy” rating in a research report on Monday, August 12th. Three analysts have rated the stock with a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $89.75.

AstraZeneca Stock Down 0.9 %

AZN stock opened at $63.20 on Thursday. The firm’s fifty day simple moving average is $73.99 and its 200-day simple moving average is $77.95. The company has a market capitalization of $195.96 billion, a P/E ratio of 30.24, a price-to-earnings-growth ratio of 1.17 and a beta of 0.47. AstraZeneca PLC has a 12 month low of $60.47 and a 12 month high of $87.68. 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 posted its quarterly earnings data on Tuesday, November 12th. The company reported $1.04 EPS for the quarter, beating analysts’ consensus estimates of $1.01 by $0.03. The business had revenue of $13.57 billion during the quarter, compared to analysts’ expectations of $13.08 billion. AstraZeneca had a return on equity of 30.01% and a net margin of 12.68%. The business’s revenue was up 18.0% compared to the same quarter last year. During the same period in the previous year, the business earned $0.87 earnings per share. As a group, equities research analysts forecast that AstraZeneca PLC will post 4.1 earnings per share for the current year.

AstraZeneca 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.