Jennison Associates LLC Has $776.32 Million Stake in AstraZeneca PLC (NASDAQ:AZN)

Jennison Associates LLC lessened its stake in shares of AstraZeneca PLC (NASDAQ:AZN) by 31.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,562,232 shares of the company’s stock after selling 4,868,731 shares during the quarter. Jennison Associates LLC’s holdings in AstraZeneca were worth $776,324,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Bailard Inc. increased its holdings in AstraZeneca by 0.5% during the first quarter. Bailard Inc. now owns 149,760 shares of the company’s stock worth $11,007,000 after buying an additional 712 shares during the last quarter. Dynasty Wealth Management LLC lifted its holdings in AstraZeneca by 27.0% during the 1st quarter. Dynasty Wealth Management LLC now owns 15,261 shares of the company’s stock worth $1,122,000 after purchasing an additional 3,249 shares in the last quarter. Verdence Capital Advisors LLC grew its stake in AstraZeneca by 20.9% during the first quarter. Verdence Capital Advisors LLC now owns 39,301 shares of the company’s stock valued at $2,889,000 after acquiring an additional 6,793 shares in the last quarter. Mayflower Financial Advisors LLC purchased a new position in AstraZeneca during the first quarter valued at approximately $204,000. Finally, Victory Capital Management Inc. grew its stake in AstraZeneca by 8.4% during the first quarter. Victory Capital Management Inc. now owns 438,193 shares of the company’s stock valued at $32,207,000 after acquiring an additional 34,123 shares in the last quarter. Institutional investors and hedge funds own 20.35% of the company’s stock.

AstraZeneca Price Performance

AstraZeneca stock opened at $69.38 on Friday. The firm has a 50-day moving average of $70.75 and a two-hundred day moving average of $70.90. AstraZeneca PLC has a 1 year low of $61.24 and a 1 year high of $87.68. The stock has a market cap of $215.15 billion, a price-to-earnings ratio of 27.88, a price-to-earnings-growth ratio of 1.29 and a beta of 0.37. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.90 and a quick ratio of 0.70.

AstraZeneca (NASDAQ:AZN) last announced its quarterly earnings results on Tuesday, April 29th. The company reported $1.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.10 by $0.14. The firm had revenue of $13.59 billion for the quarter, compared to the consensus estimate of $13.71 billion. AstraZeneca had a net margin of 14.14% and a return on equity of 33.14%. The firm’s quarterly revenue was up 7.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.06 earnings per share. On average, research analysts forecast that AstraZeneca PLC will post 4.51 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have commented on AZN. Berenberg Bank set a $97.00 price target on shares of AstraZeneca in a research note on Wednesday, July 9th. BNP Paribas assumed coverage on shares of AstraZeneca in a report on Tuesday, April 15th. They issued an “outperform” rating and a $75.00 price objective for the company. One research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $89.00.

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.