HighTower Advisors LLC Lowers Stake in AstraZeneca PLC (NASDAQ:AZN)

HighTower Advisors LLC lessened its position in shares of AstraZeneca PLC (NASDAQ:AZN) by 1.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 726,665 shares of the company’s stock after selling 7,354 shares during the period. HighTower Advisors LLC’s holdings in AstraZeneca were worth $56,607,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Hilltop Holdings Inc. purchased a new stake in shares of AstraZeneca in the third quarter worth about $730,000. Centiva Capital LP purchased a new stake in shares of AstraZeneca in the third quarter worth about $588,000. Cinctive Capital Management LP purchased a new stake in shares of AstraZeneca in the third quarter worth about $3,501,000. Benjamin Edwards Inc. boosted its position in shares of AstraZeneca by 349.0% in the third quarter. Benjamin Edwards Inc. now owns 59,871 shares of the company’s stock worth $4,665,000 after buying an additional 46,537 shares during the period. Finally, Erste Asset Management GmbH purchased a new stake in shares of AstraZeneca in the third quarter worth about $72,437,000. Hedge funds and other institutional investors own 20.35% of the company’s stock.

AstraZeneca Trading Down 1.9 %

Shares of NASDAQ AZN opened at $66.78 on Thursday. The stock’s 50 day moving average price is $71.67 and its two-hundred day moving average price is $77.23. AstraZeneca PLC has a 52-week low of $60.47 and a 52-week high of $87.68. The stock has a market capitalization of $207.06 billion, a P/E ratio of 31.95, a PEG ratio of 1.23 and a beta of 0.45. The company has a quick ratio of 0.71, a current ratio of 0.93 and a debt-to-equity ratio of 0.71.

AstraZeneca (NASDAQ:AZN) last announced its quarterly earnings data on Tuesday, November 12th. The company reported $1.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.01 by $0.03. AstraZeneca had a return on equity of 30.01% and a net margin of 12.68%. The firm had revenue of $13.57 billion for the quarter, compared to analysts’ expectations of $13.08 billion. During the same quarter in the prior year, the firm posted $0.87 earnings per share. AstraZeneca’s revenue for the quarter was up 18.0% compared to the same quarter last year. On average, analysts anticipate that AstraZeneca PLC will post 4.1 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

AZN has been the subject of several analyst reports. UBS Group raised AstraZeneca from a “sell” rating to a “neutral” rating in a research report on Wednesday, November 20th. TD Cowen boosted their price target on AstraZeneca from $90.00 to $95.00 and gave the stock a “buy” rating in a research note on Monday, August 12th. Deutsche Bank Aktiengesellschaft upgraded AstraZeneca from a “sell” rating to a “hold” rating in a research note on Wednesday, November 6th. Finally, Erste Group Bank upgraded AstraZeneca from a “hold” rating to a “buy” rating in a research note on Wednesday, September 11th. Three 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’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $89.75.

AstraZeneca 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.