Jennison Associates LLC Acquires 1,605,133 Shares of AstraZeneca PLC $AZN

Jennison Associates LLC increased its position in shares of AstraZeneca PLC (NASDAQ:AZN) by 15.2% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,167,365 shares of the company’s stock after purchasing an additional 1,605,133 shares during the quarter. Jennison Associates LLC’s holdings in AstraZeneca were worth $850,255,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Larson Financial Group LLC increased its position in shares of AstraZeneca by 297.9% during the 1st quarter. Larson Financial Group LLC now owns 386 shares of the company’s stock worth $28,000 after purchasing an additional 289 shares in the last quarter. Richardson Financial Services Inc. increased its position in shares of AstraZeneca by 59.8% during the 2nd quarter. Richardson Financial Services Inc. now owns 398 shares of the company’s stock worth $28,000 after purchasing an additional 149 shares in the last quarter. Costello Asset Management INC acquired a new stake in shares of AstraZeneca during the 1st quarter worth about $29,000. Maseco LLP acquired a new stake in shares of AstraZeneca during the 2nd quarter worth about $34,000. Finally, Caitong International Asset Management Co. Ltd acquired a new stake in shares of AstraZeneca during the 1st quarter worth about $37,000. Institutional investors and hedge funds own 20.35% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on AZN shares. Weiss Ratings reiterated a “buy (b)” rating on shares of AstraZeneca in a research report on Wednesday, October 8th. Jefferies Financial Group assumed coverage on shares of AstraZeneca in a research report on Monday. They set a “buy” rating for the company. Deutsche Bank Aktiengesellschaft lowered shares of AstraZeneca from a “hold” rating to a “sell” rating in a report on Thursday, October 16th. Finally, Berenberg Bank set a $97.00 price objective on shares of AstraZeneca in a report on Wednesday, July 9th. Five equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $86.00.

AstraZeneca Stock Down 1.7%

Shares of NASDAQ:AZN opened at $82.61 on Wednesday. AstraZeneca PLC has a 12 month low of $61.24 and a 12 month high of $86.57. The company’s 50-day moving average price is $81.03 and its two-hundred day moving average price is $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 firm has a market cap of $256.21 billion, a P/E ratio of 31.06, a P/E/G ratio of 1.55 and a beta of 0.36.

AstraZeneca (NASDAQ:AZN) last issued its earnings results on Tuesday, July 29th. The company reported $1.09 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.09. The company had revenue of $14.46 billion for the quarter, compared to analyst estimates of $14.08 billion. AstraZeneca had a net margin of 14.68% and a return on equity of 32.84%. The company’s revenue for the quarter was up 16.1% on a year-over-year basis. During the same quarter last year, the firm earned $1.24 EPS. As a group, research analysts forecast that AstraZeneca PLC will post 4.51 EPS for the current fiscal year.

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.