Mediolanum International Funds Ltd Buys 278,985 Shares of AstraZeneca PLC (NASDAQ:AZN)

Mediolanum International Funds Ltd raised its position in AstraZeneca PLC (NASDAQ:AZN) by 392.3% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 350,093 shares of the company’s stock after acquiring an additional 278,985 shares during the period. Mediolanum International Funds Ltd’s holdings in AstraZeneca were worth $27,276,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD lifted its holdings in shares of AstraZeneca by 17.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 61,271,974 shares of the company’s stock valued at $4,151,177,000 after purchasing an additional 9,002,450 shares in the last quarter. Capital World Investors lifted its holdings in shares of AstraZeneca by 0.3% in the first quarter. Capital World Investors now owns 9,365,676 shares of the company’s stock valued at $634,525,000 after purchasing an additional 29,497 shares in the last quarter. Envestnet Asset Management Inc. lifted its holdings in shares of AstraZeneca by 16.7% in the second quarter. Envestnet Asset Management Inc. now owns 3,417,933 shares of the company’s stock valued at $266,565,000 after purchasing an additional 488,644 shares in the last quarter. Clearbridge Investments LLC lifted its holdings in shares of AstraZeneca by 5.8% in the second quarter. Clearbridge Investments LLC now owns 3,403,748 shares of the company’s stock valued at $265,458,000 after purchasing an additional 186,010 shares in the last quarter. Finally, Fayez Sarofim & Co lifted its holdings in shares of AstraZeneca by 4.7% in the first quarter. Fayez Sarofim & Co now owns 2,990,234 shares of the company’s stock valued at $202,588,000 after purchasing an additional 134,784 shares in the last quarter. Institutional investors and hedge funds own 20.35% of the company’s stock.

AstraZeneca Stock Down 0.6 %

Shares of AstraZeneca stock traded down $0.44 during midday trading on Friday, hitting $75.46. The company had a trading volume of 928,211 shares, compared to its average volume of 4,997,788. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.69 and a current ratio of 0.89. The stock has a market capitalization of $233.97 billion, a P/E ratio of 36.67, a P/E/G ratio of 1.43 and a beta of 0.46. The company has a 50 day moving average of $80.59 and a 200 day moving average of $78.39. AstraZeneca PLC has a 52-week low of $60.47 and a 52-week high of $87.68.

AstraZeneca (NASDAQ:AZN) last posted its earnings results on Thursday, July 25th. The company reported $0.99 EPS for the quarter, topping analysts’ consensus estimates of $0.98 by $0.01. AstraZeneca had a return on equity of 29.34% and a net margin of 13.11%. The business had revenue of $12.45 billion during the quarter, compared to analyst estimates of $12.62 billion. During the same quarter last year, the company earned $1.08 EPS. The company’s quarterly revenue was up 9.1% compared to the same quarter last year. On average, equities analysts predict that AstraZeneca PLC will post 4.07 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts recently commented on AZN shares. TD Cowen lifted their price target on AstraZeneca from $90.00 to $95.00 and gave the stock a “buy” rating in a report on Monday, August 12th. Deutsche Bank Aktiengesellschaft lowered AstraZeneca from a “hold” rating to a “sell” rating in a report on Friday, September 13th. Finally, Erste Group Bank upgraded AstraZeneca from a “hold” rating to a “buy” rating in a report on Wednesday, September 11th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, seven have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the stock 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.