Summit Trail Advisors LLC Decreases Position in AstraZeneca PLC (NASDAQ:AZN)

Summit Trail Advisors LLC trimmed its holdings in shares of AstraZeneca PLC (NASDAQ:AZN) by 10.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,675 shares of the company’s stock after selling 922 shares during the quarter. Summit Trail Advisors LLC’s holdings in AstraZeneca were worth $598,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in AZN. Envestnet Asset Management Inc. grew its stake in shares of AstraZeneca by 16.7% during the second quarter. Envestnet Asset Management Inc. now owns 3,417,933 shares of the company’s stock worth $266,565,000 after acquiring an additional 488,644 shares during the last quarter. Clearbridge Investments LLC boosted its stake in AstraZeneca by 5.8% in the 2nd quarter. Clearbridge Investments LLC now owns 3,403,748 shares of the company’s stock worth $265,458,000 after purchasing an additional 186,010 shares in the last quarter. Swedbank AB purchased a new stake in AstraZeneca during the 1st quarter worth approximately $186,127,000. Raymond James & Associates increased its stake in AstraZeneca by 0.5% during the 2nd quarter. Raymond James & Associates now owns 2,576,736 shares of the company’s stock valued at $200,959,000 after purchasing an additional 13,396 shares in the last quarter. Finally, Manning & Napier Advisors LLC purchased a new position in shares of AstraZeneca in the second quarter worth $188,476,000. 20.35% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Erste Group Bank raised AstraZeneca from a “hold” rating to a “buy” rating in a research report on Wednesday, September 11th. UBS Group raised AstraZeneca from a “sell” rating to a “neutral” rating in a report on Wednesday, November 20th. TD Cowen raised their price objective on AstraZeneca from $90.00 to $95.00 and gave the stock a “buy” rating in a research note on Monday, August 12th. Finally, Deutsche Bank Aktiengesellschaft upgraded AstraZeneca from a “sell” rating to a “hold” rating in a research report on Wednesday, November 6th. Three analysts have rated the stock with a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $89.75.

AstraZeneca Stock Performance

Shares of AZN stock opened at $66.40 on Tuesday. AstraZeneca PLC has a 52-week low of $60.47 and a 52-week high of $87.68. The company has a quick ratio of 0.71, a current ratio of 0.93 and a debt-to-equity ratio of 0.71. The stock has a market cap of $205.88 billion, a PE ratio of 31.77, a price-to-earnings-growth ratio of 1.20 and a beta of 0.47. The business has a 50-day simple moving average of $73.19 and a 200-day simple moving average of $77.72.

AstraZeneca (NASDAQ:AZN) last announced its quarterly earnings results on Tuesday, November 12th. The company reported $1.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.01 by $0.03. The company had revenue of $13.57 billion during the quarter, compared to the consensus estimate of $13.08 billion. AstraZeneca had a return on equity of 30.01% and a net margin of 12.68%. AstraZeneca’s revenue for the quarter was up 18.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.87 earnings per share. On average, equities analysts expect that AstraZeneca PLC will post 4.1 EPS for the current year.

About AstraZeneca

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.