AstraZeneca PLC $AZN Shares Sold by Connable Office Inc.

Connable Office Inc. decreased its stake in AstraZeneca PLC (NASDAQ:AZN) by 40.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 12,015 shares of the company’s stock after selling 8,052 shares during the quarter. Connable Office Inc.’s holdings in AstraZeneca were worth $840,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the stock. Larson Financial Group LLC lifted its stake in shares of AstraZeneca by 297.9% in the first quarter. Larson Financial Group LLC now owns 386 shares of the company’s stock worth $28,000 after buying an additional 289 shares in the last quarter. Richardson Financial Services Inc. lifted its stake in shares of AstraZeneca by 59.8% in the second quarter. Richardson Financial Services Inc. now owns 398 shares of the company’s stock worth $28,000 after buying an additional 149 shares in the last quarter. Costello Asset Management INC purchased a new position in shares of AstraZeneca in the first quarter worth about $29,000. Maseco LLP purchased a new position in AstraZeneca during the second quarter worth about $34,000. Finally, Caitong International Asset Management Co. Ltd purchased a new position in AstraZeneca during the first quarter worth about $37,000. Institutional investors and hedge funds own 20.35% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Deutsche Bank Aktiengesellschaft downgraded shares of AstraZeneca from a “hold” rating to a “sell” rating in a research note on Thursday, October 16th. Berenberg Bank set a $97.00 price target on shares of AstraZeneca in a research note on Wednesday, July 9th. Jefferies Financial Group started coverage on shares of AstraZeneca in a report on Monday, October 27th. They issued a “buy” rating for the company. Finally, Weiss Ratings restated a “buy (b)” rating on shares of AstraZeneca in a report on Wednesday, October 8th. Five research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $86.00.

AstraZeneca Trading Down 0.8%

NASDAQ AZN opened at $81.72 on Tuesday. The company has a quick ratio of 0.67, a current ratio of 0.86 and a debt-to-equity ratio of 0.55. AstraZeneca PLC has a 52 week low of $61.24 and a 52 week high of $86.57. The stock has a market capitalization of $253.45 billion, a PE ratio of 30.72, a price-to-earnings-growth ratio of 1.52 and a beta of 0.36. The firm has a 50 day moving average of $81.17 and a two-hundred day moving average of $75.18.

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.