Jacobi Capital Management LLC Lowers Holdings in AstraZeneca plc (AZN)
Jacobi Capital Management LLC cut its position in AstraZeneca plc (NYSE:AZN) by 28.1% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 7,521 shares of the company’s stock after selling 2,943 shares during the period. Jacobi Capital Management LLC’s holdings in AstraZeneca were worth $298,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors and hedge funds have also recently modified their holdings of the company. Sawtooth Solutions LLC raised its stake in shares of AstraZeneca by 41.5% in the third quarter. Sawtooth Solutions LLC now owns 34,105 shares of the company’s stock valued at $1,349,000 after buying an additional 10,009 shares during the period. HPM Partners LLC raised its stake in shares of AstraZeneca by 50.2% in the second quarter. HPM Partners LLC now owns 34,813 shares of the company’s stock valued at $1,222,000 after buying an additional 11,629 shares during the period. Marshall Wace LLP bought a new stake in shares of AstraZeneca in the second quarter valued at $10,519,000. BTIM Corp. bought a new stake in shares of AstraZeneca in the third quarter valued at $214,000. Finally, Vident Investment Advisory LLC raised its stake in shares of AstraZeneca by 30.5% in the second quarter. Vident Investment Advisory LLC now owns 69,090 shares of the company’s stock valued at $2,426,000 after buying an additional 16,137 shares during the period. Hedge funds and other institutional investors own 17.18% of the company’s stock.
In other AstraZeneca news, major shareholder Plc Astrazeneca bought 246,666 shares of AstraZeneca stock in a transaction that occurred on Friday, September 28th. The stock was acquired at an average cost of $15.00 per share, for a total transaction of $3,699,990.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
AstraZeneca (NYSE:AZN) last announced its quarterly earnings results on Thursday, November 8th. The company reported $0.71 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.33 by $0.38. The company had revenue of $5.34 billion during the quarter, compared to analysts’ expectations of $5.26 billion. AstraZeneca had a return on equity of 27.32% and a net margin of 11.29%. The firm’s quarterly revenue was down 14.3% compared to the same quarter last year. During the same period in the previous year, the business earned $1.12 earnings per share. As a group, equities research analysts predict that AstraZeneca plc will post 1.68 earnings per share for the current year.
Several equities analysts have recently weighed in on AZN shares. Zacks Investment Research upgraded AstraZeneca from a “hold” rating to a “buy” rating and set a $44.00 price target for the company in a research report on Tuesday, October 9th. Investec cut AstraZeneca from a “buy” rating to a “hold” rating in a research report on Monday, November 19th. HSBC reiterated a “sell” rating on shares of AstraZeneca in a research report on Monday, November 12th. UBS Group reiterated a “hold” rating on shares of AstraZeneca in a research report on Monday, November 19th. Finally, ValuEngine cut AstraZeneca from a “buy” rating to a “hold” rating in a research report on Friday, September 7th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and seven have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $41.74.
AstraZeneca Company Profile
AstraZeneca PLC discovers, develops, and commercializes prescription medicines for the treatment of oncology, cardiovascular and metabolic, respiratory, gastrointestinal, neuroscience, and infection diseases worldwide. Its marketed products include Arimidex, Casodex/Cosudex, Calquence, Faslodex, Imfinzi, Iressa, Lynparza, Nolvadex, Tagrisso, and Zoladex for oncology diseases; Atacand1/Atacand HCT/Atacand Plus, Brilinta/Brilique, Crestor2, Plendil, Seloken/Toprol-XL4, Tenormin5, and Zestril6 for cardiovascular diseases; and Bydureon, Byetta, Farxiga/Forxiga, Kombiglyze XR, Komboglyze, Onglyza, Qtern, Symlin, Xigduo, and Xigduo XR for metabolic diseases.
See Also: Debt-To-Equity Ratio
Want to see what other hedge funds are holding AZN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for AstraZeneca plc (NYSE:AZN).
Receive News & Ratings for AstraZeneca Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AstraZeneca and related companies with MarketBeat.com's FREE daily email newsletter.