Bessemer Group Inc. Cuts Stock Position in AstraZeneca PLC $AZN

by · The Cerbat Gem

Bessemer Group Inc. cut its holdings in shares of AstraZeneca PLC (NASDAQ:AZN – Free Report) by 16.9% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 101,245 shares of the company’s stock after selling 20,606 shares during the period. Bessemer Group Inc.’s holdings in AstraZeneca were worth $7,074,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Chilton Capital Management LLC increased its stake in AstraZeneca by 7.2% during the second quarter. Chilton Capital Management LLC now owns 397,613 shares of the company’s stock worth $27,785,000 after purchasing an additional 26,781 shares during the period. Resonant Capital Advisors LLC increased its stake in shares of AstraZeneca by 23.5% during the second quarter. Resonant Capital Advisors LLC now owns 3,918 shares of the company’s stock worth $274,000 after buying an additional 745 shares during the period. Oppenheimer Asset Management Inc. increased its stake in shares of AstraZeneca by 12.9% during the second quarter. Oppenheimer Asset Management Inc. now owns 108,417 shares of the company’s stock worth $7,576,000 after buying an additional 12,414 shares during the period. Brighton Jones LLC increased its stake in shares of AstraZeneca by 17.9% during the second quarter. Brighton Jones LLC now owns 6,802 shares of the company’s stock worth $475,000 after buying an additional 1,031 shares during the period. Finally, Brian Low Financial Group LLC purchased a new stake in shares of AstraZeneca during the second quarter worth approximately $962,000. 20.35% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

Check Out Our Latest Report on AstraZeneca

AstraZeneca Stock Performance

Shares of AZN opened at $82.61 on Wednesday. The stock has a 50 day moving average price of $81.03 and a 200 day moving average price of $74.71. The company has a quick ratio of 0.67, a current ratio of 0.86 and a debt-to-equity ratio of 0.55. The company has a market capitalization of $256.21 billion, a price-to-earnings ratio of 31.06, a price-to-earnings-growth ratio of 1.55 and a beta of 0.36. AstraZeneca PLC has a 52-week low of $61.24 and a 52-week high of $86.57.

AstraZeneca (NASDAQ:AZN – Get Free Report) last announced its quarterly earnings results on Tuesday, July 29th. The company reported $1.09 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.09. The firm had revenue of $14.46 billion during the quarter, compared to the consensus estimate of $14.08 billion. AstraZeneca had a return on equity of 32.84% and a net margin of 14.68%.The firm’s quarterly revenue was up 16.1% compared to the same quarter last year. During the same period in the prior year, the company posted $1.24 earnings per share. Research analysts predict that AstraZeneca PLC will post 4.51 EPS for the current fiscal year.

About AstraZeneca

(Free Report)

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.

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