BB&T Corp decreased its stake in shares of AstraZeneca plc (NYSE:AZN) by 7.0% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 155,228 shares of the company’s stock after selling 11,617 shares during the period. BB&T Corp’s holdings in AstraZeneca were worth $6,143,000 as of its most recent filing with the SEC.
Several other hedge funds also recently made changes to their positions in AZN. Bessemer Group Inc. boosted its holdings in shares of AstraZeneca by 64.3% during the 2nd quarter. Bessemer Group Inc. now owns 4,651 shares of the company’s stock worth $163,000 after buying an additional 1,820 shares during the period. NEXT Financial Group Inc bought a new stake in shares of AstraZeneca during the 3rd quarter worth about $169,000. FNY Investment Advisers LLC bought a new stake in shares of AstraZeneca during the 2nd quarter worth about $175,000. Tiverton Asset Management LLC bought a new stake in shares of AstraZeneca during the 2nd quarter worth about $178,000. Finally, Gilman Hill Asset Management LLC bought a new stake in shares of AstraZeneca during the 2nd quarter worth about $205,000. 16.00% of the stock is owned by institutional investors and hedge funds.
Several analysts have weighed in on the stock. ValuEngine upgraded shares of AstraZeneca from a “hold” rating to a “buy” rating in a research note on Thursday, September 27th. Jefferies Financial Group cut shares of AstraZeneca from a “buy” rating to a “hold” rating in a research note on Thursday, August 16th. Zacks Investment Research upgraded shares of AstraZeneca from a “hold” rating to a “buy” rating and set a $44.00 price objective for the company in a research note on Tuesday, October 9th. Finally, Guggenheim assumed coverage on shares of AstraZeneca in a research note on Monday, October 8th. They issued a “buy” rating for the company. Four investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $40.34.
AstraZeneca (NYSE:AZN) last issued its quarterly earnings data on Thursday, July 26th. The company reported $0.69 earnings per share for the quarter, topping the consensus estimate of $0.31 by $0.38. AstraZeneca had a net margin of 11.98% and a return on equity of 29.89%. The business had revenue of $5.16 billion during the quarter, compared to analysts’ expectations of $5.09 billion. During the same quarter in the previous year, the company earned $0.87 EPS. The business’s revenue was up 2.1% on a year-over-year basis. As a group, equities research analysts expect that AstraZeneca plc will post 1.67 EPS for the current fiscal year.
In other news, major shareholder Plc Astrazeneca bought 246,666 shares of the company’s stock in a transaction dated Friday, September 28th. The stock was bought 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 SEC, which is available at this link.
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.
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