Channing Global Advisors LLC Lowers Stock Holdings in AstraZeneca PLC (NASDAQ:AZN)

Channing Global Advisors LLC lowered its position in shares of AstraZeneca PLC (NASDAQ:AZN) by 10.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,864 shares of the company’s stock after selling 684 shares during the period. Channing Global Advisors LLC’s holdings in AstraZeneca were worth $457,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of AZN. CANADA LIFE ASSURANCE Co raised its holdings in shares of AstraZeneca by 40.6% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 506 shares of the company’s stock valued at $34,000 after acquiring an additional 146 shares in the last quarter. Kennedy Capital Management LLC bought a new stake in AstraZeneca during the first quarter valued at approximately $914,000. B. Riley Wealth Advisors Inc. grew its stake in AstraZeneca by 36.0% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 23,504 shares of the company’s stock worth $1,592,000 after buying an additional 6,224 shares in the last quarter. Tidal Investments LLC bought a new position in shares of AstraZeneca in the 1st quarter worth $327,000. Finally, Atria Investments Inc increased its holdings in shares of AstraZeneca by 0.7% in the 1st quarter. Atria Investments Inc now owns 85,255 shares of the company’s stock worth $5,776,000 after buying an additional 629 shares during the last quarter. 20.35% of the stock is currently owned by hedge funds and other institutional investors.

AstraZeneca Stock Performance

Shares of AZN stock opened at $67.20 on Friday. The company has a market capitalization of $208.36 billion, a P/E ratio of 32.15, a PEG ratio of 1.23 and a beta of 0.47. AstraZeneca PLC has a fifty-two week low of $60.47 and a fifty-two week high of $87.68. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.71 and a current ratio of 0.93. The stock has a 50 day moving average price of $72.48 and a two-hundred day moving average price of $77.50.

AstraZeneca (NASDAQ:AZN) last issued its earnings results on Tuesday, November 12th. The company reported $1.04 EPS 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 the consensus estimate 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% on a year-over-year basis. During the same period in the previous year, the firm earned $0.87 earnings per share. Analysts expect that AstraZeneca PLC will post 4.1 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on AZN. UBS Group upgraded shares of AstraZeneca from a “sell” rating to a “neutral” rating in a research report on Wednesday, November 20th. Deutsche Bank Aktiengesellschaft upgraded AstraZeneca from a “sell” rating to a “hold” rating in a research report on Wednesday, November 6th. TD Cowen boosted their target price on AstraZeneca from $90.00 to $95.00 and gave the stock a “buy” rating in a research report on Monday, August 12th. Finally, Erste Group Bank raised AstraZeneca from a “hold” rating to a “buy” rating in a research note on Wednesday, September 11th. Three equities research analysts have rated the stock with a hold rating, seven have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, AstraZeneca presently has a consensus 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.