Burney Co. Reduces Stock Position in AstraZeneca PLC $AZN

Burney Co. lessened its position in shares of AstraZeneca PLC (NASDAQ:AZN) by 6.1% during the 2nd quarter, Holdings Channel reports. The firm owned 14,991 shares of the company’s stock after selling 981 shares during the quarter. Burney Co.’s holdings in AstraZeneca were worth $1,048,000 as of its most recent filing with the SEC.

Several other large investors have also added to or reduced their stakes in the company. Goldman Sachs Group Inc. grew its stake in AstraZeneca by 30.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 13,647,948 shares of the company’s stock valued at $1,003,124,000 after purchasing an additional 3,224,251 shares during the last quarter. Jennison Associates LLC grew its stake in AstraZeneca by 15.2% during the 2nd quarter. Jennison Associates LLC now owns 12,167,365 shares of the company’s stock valued at $850,255,000 after purchasing an additional 1,605,133 shares during the last quarter. Boston Partners grew its stake in AstraZeneca by 35.9% during the 1st quarter. Boston Partners now owns 5,036,645 shares of the company’s stock valued at $368,712,000 after purchasing an additional 1,329,166 shares during the last quarter. Ameriprise Financial Inc. grew its stake in AstraZeneca by 5.6% during the 1st quarter. Ameriprise Financial Inc. now owns 4,942,367 shares of the company’s stock valued at $364,283,000 after purchasing an additional 261,064 shares during the last quarter. Finally, Swedbank AB grew its stake in AstraZeneca by 20.8% during the 2nd quarter. Swedbank AB now owns 4,077,554 shares of the company’s stock valued at $284,939,000 after purchasing an additional 701,779 shares during the last quarter. Hedge funds and other institutional investors own 20.35% of the company’s stock.

Wall Street Analysts Forecast Growth

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

AstraZeneca Stock Performance

NASDAQ AZN opened at $82.03 on Wednesday. The stock has a market capitalization of $254.41 billion, a price-to-earnings ratio of 30.84, a PEG ratio of 1.52 and a beta of 0.36. AstraZeneca PLC has a twelve month low of $61.24 and a twelve month high of $86.57. The company has a current ratio of 0.86, a quick ratio of 0.67 and a debt-to-equity ratio of 0.55. The stock has a 50-day moving average of $81.21 and a 200 day moving average of $75.28.

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.