Optas LLC Decreases Stock Holdings in AstraZeneca PLC (NASDAQ:AZN)

Optas LLC lessened its stake in AstraZeneca PLC (NASDAQ:AZN) by 14.5% in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 4,348 shares of the company’s stock after selling 738 shares during the quarter. Optas LLC’s holdings in AstraZeneca were worth $295,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in AZN. Cerity Partners LLC increased its holdings in shares of AstraZeneca by 113.0% in the fourth quarter. Cerity Partners LLC now owns 95,677 shares of the company’s stock valued at $6,444,000 after purchasing an additional 50,750 shares during the last quarter. Raymond James Financial Services Advisors Inc. raised its holdings in AstraZeneca by 43.7% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 163,011 shares of the company’s stock worth $10,979,000 after purchasing an additional 49,541 shares in the last quarter. Assetmark Inc. boosted its holdings in shares of AstraZeneca by 11.2% in the 4th quarter. Assetmark Inc. now owns 154,906 shares of the company’s stock valued at $10,433,000 after buying an additional 15,642 shares in the last quarter. Manning & Napier Group LLC grew its position in shares of AstraZeneca by 281.2% in the 4th quarter. Manning & Napier Group LLC now owns 2,779,212 shares of the company’s stock valued at $187,180,000 after buying an additional 2,050,064 shares during the last quarter. Finally, International Assets Investment Management LLC acquired a new stake in AstraZeneca during the 4th quarter worth $10,395,000. 20.35% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on AZN. Argus lifted their target price on AstraZeneca from $80.00 to $85.00 and gave the stock a “buy” rating in a research report on Thursday, May 30th. Barclays raised AstraZeneca to a “strong-buy” rating in a research report on Monday, June 24th. Citigroup upgraded shares of AstraZeneca to a “strong-buy” rating in a research report on Monday, June 24th. The Goldman Sachs Group assumed coverage on shares of AstraZeneca in a report on Thursday, May 30th. They issued a “buy” rating and a $97.00 target price on the stock. Finally, BMO Capital Markets increased their price target on shares of AstraZeneca from $80.00 to $82.00 and gave the stock an “outperform” rating in a research note on Friday, April 26th. Three analysts have rated the stock with a hold rating, six have given a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat.com, AstraZeneca has an average rating of “Buy” and an average price target of $88.00.

AstraZeneca Stock Performance

AstraZeneca stock traded down $0.19 during trading hours on Friday, reaching $77.99. 3,664,470 shares of the stock were exchanged, compared to its average volume of 3,364,924. AstraZeneca PLC has a 52-week low of $60.47 and a 52-week high of $80.86. The stock has a market cap of $241.81 billion, a P/E ratio of 38.23, a P/E/G ratio of 1.40 and a beta of 0.48. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.70 and a current ratio of 0.89. The firm’s 50 day moving average is $77.52 and its 200 day moving average is $70.40.

AstraZeneca (NASDAQ:AZN) last released its earnings results on Thursday, April 25th. The company reported $1.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.95 by $0.08. The company had revenue of $12.68 billion for the quarter, compared to analysts’ expectations of $11.92 billion. AstraZeneca had a return on equity of 30.42% and a net margin of 13.30%. Analysts predict that AstraZeneca PLC will post 4.04 EPS for the current fiscal year.

About AstraZeneca

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.