Purpose Unlimited Inc. Takes Position in Astrazeneca Plc $AZN

Purpose Unlimited Inc. acquired a new stake in Astrazeneca Plc (NYSE:AZN) in the 4th quarter, Holdings Channel.com reports. The institutional investor acquired 73,490 shares of the company’s stock, valued at approximately $12,897,000.

A number of other hedge funds also recently added to or reduced their stakes in the business. Arrowstreet Capital Limited Partnership lifted its holdings in Astrazeneca by 552.9% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 5,547,597 shares of the company’s stock worth $973,603,000 after buying an additional 4,697,895 shares during the period. Bank of Montreal Can increased its holdings in shares of Astrazeneca by 344.6% in the 3rd quarter. Bank of Montreal Can now owns 3,478,114 shares of the company’s stock valued at $266,841,000 after acquiring an additional 2,695,793 shares during the period. Citigroup Inc. increased its holdings in shares of Astrazeneca by 65.3% in the 4th quarter. Citigroup Inc. now owns 6,154,760 shares of the company’s stock valued at $1,080,160,000 after acquiring an additional 2,431,890 shares during the period. Holocene Advisors LP raised its position in shares of Astrazeneca by 41.8% in the 3rd quarter. Holocene Advisors LP now owns 6,129,194 shares of the company’s stock worth $470,232,000 after acquiring an additional 1,807,565 shares in the last quarter. Finally, Bank Julius Baer & Co. Ltd Zurich raised its position in shares of Astrazeneca by 11,190.9% in the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 1,806,877 shares of the company’s stock worth $317,107,000 after acquiring an additional 1,790,874 shares in the last quarter. 20.35% of the stock is owned by hedge funds and other institutional investors.

Astrazeneca Stock Performance

Shares of AZN opened at $174.87 on Friday. The company has a current ratio of 0.91, a quick ratio of 0.71 and a debt-to-equity ratio of 0.52. The firm has a market cap of $271.20 billion, a PE ratio of 26.26, a P/E/G ratio of 1.52 and a beta of 0.25. Astrazeneca Plc has a 12 month low of $137.23 and a 12 month high of $212.71. The stock has a fifty day moving average price of $186.62 and a 200-day moving average price of $186.37.

Astrazeneca (NYSE:AZN) last announced its earnings results on Wednesday, April 29th. The company reported $2.58 earnings per share for the quarter, topping the consensus estimate of $2.52 by $0.06. Astrazeneca had a return on equity of 30.86% and a net margin of 17.19%.The firm had revenue of $15.29 billion for the quarter, compared to the consensus estimate of $14.93 billion. Equities research analysts predict that Astrazeneca Plc will post 9.39 earnings per share for the current fiscal year.

Analyst Ratings Changes

AZN has been the topic of a number of recent research reports. Wall Street Zen raised Astrazeneca from a “hold” rating to a “buy” rating in a research report on Saturday, May 2nd. Morgan Stanley reiterated an “overweight” rating on shares of Astrazeneca in a report on Wednesday, April 8th. UBS Group reissued a “buy” rating on shares of Astrazeneca in a research report on Friday, April 10th. Barclays restated a “buy” rating on shares of Astrazeneca in a report on Monday, June 1st. Finally, Jefferies Financial Group reaffirmed a “buy” rating on shares of Astrazeneca in a research report on Tuesday, June 9th. Twelve equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $205.33.

About Astrazeneca

AstraZeneca plc is a global biopharmaceutical company headquartered in Cambridge, England. Formed through the 1999 merger of Sweden’s Astra AB and the UK’s Zeneca Group, the company researches, develops, manufactures and commercializes prescription medicines across a range of therapeutic areas. AstraZeneca positions itself as R&D-driven, investing in discovery science, clinical development and regulatory processes to bring new therapies to market.

The company’s commercial portfolio and late-stage pipeline emphasize oncology, cardiovascular, renal and metabolic (CVRM) diseases, and respiratory and immunology.