Fred Alger Management LLC Raises Stock Holdings in AstraZeneca PLC (NASDAQ:AZN)

Fred Alger Management LLC boosted its stake in shares of AstraZeneca PLC (NASDAQ:AZN) by 35.3% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 357,614 shares of the company’s stock after buying an additional 93,241 shares during the quarter. Fred Alger Management LLC’s holdings in AstraZeneca were worth $27,862,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Stratos Wealth Advisors LLC boosted its position in AstraZeneca by 2.0% during the 3rd quarter. Stratos Wealth Advisors LLC now owns 6,699 shares of the company’s stock valued at $522,000 after acquiring an additional 133 shares in the last quarter. Bruce G. Allen Investments LLC grew its holdings in AstraZeneca by 19.1% during the second quarter. Bruce G. Allen Investments LLC now owns 860 shares of the company’s stock worth $67,000 after acquiring an additional 138 shares during the period. Carnegie Investment Counsel grew its stake in shares of AstraZeneca by 0.8% during the 2nd quarter. Carnegie Investment Counsel now owns 17,269 shares of the company’s stock worth $1,347,000 after purchasing an additional 138 shares during the period. Crumly & Associates Inc. increased its holdings in AstraZeneca by 2.2% in the third quarter. Crumly & Associates Inc. now owns 6,644 shares of the company’s stock valued at $518,000 after buying an additional 143 shares in the last quarter. Finally, CANADA LIFE ASSURANCE Co increased its stake in shares of AstraZeneca by 40.6% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 506 shares of the company’s stock valued at $34,000 after purchasing an additional 146 shares in the last quarter. Hedge funds and other institutional investors own 20.35% of the company’s stock.

AstraZeneca Trading Up 0.6 %

NASDAQ AZN opened at $67.62 on Friday. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.71 and a current ratio of 0.93. AstraZeneca PLC has a one year low of $60.47 and a one year high of $87.68. The firm has a market cap of $209.66 billion, a price-to-earnings ratio of 32.35, a PEG ratio of 1.23 and a beta of 0.47. The firm has a 50 day simple moving average of $72.27 and a 200-day simple moving average of $77.43.

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

Wall Street Analyst Weigh In

AZN has been the subject of several recent analyst reports. Erste Group Bank raised shares of AstraZeneca from a “hold” rating to a “buy” rating in a report on Wednesday, September 11th. TD Cowen increased their price target on AstraZeneca from $90.00 to $95.00 and gave the company a “buy” rating in a report on Monday, August 12th. UBS Group raised shares of AstraZeneca from a “sell” rating to a “neutral” rating in a research note on Wednesday, November 20th. Finally, Deutsche Bank Aktiengesellschaft raised AstraZeneca from a “sell” rating to a “hold” rating in a research note on Wednesday, November 6th. Three research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, AstraZeneca has a consensus rating of “Moderate Buy” and a consensus target price of $89.75.

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.