Fred Alger Management LLC Acquires 1,263,721 Shares of Astrazeneca Plc $AZN

Fred Alger Management LLC increased its holdings in Astrazeneca Plc (NYSE:AZN) by 2,297.8% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,318,719 shares of the company’s stock after purchasing an additional 1,263,721 shares during the period. Astrazeneca makes up about 0.9% of Fred Alger Management LLC’s investment portfolio, making the stock its 22nd largest position. Fred Alger Management LLC owned about 0.09% of Astrazeneca worth $231,435,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of AZN. Triumph Capital Management bought a new stake in Astrazeneca in the third quarter worth $25,000. Bangor Savings Bank increased its position in Astrazeneca by 102.7% during the fourth quarter. Bangor Savings Bank now owns 304 shares of the company’s stock valued at $28,000 after acquiring an additional 154 shares during the last quarter. Eagle Bay Advisors LLC bought a new position in Astrazeneca during the fourth quarter valued at $30,000. YANKCOM Partnership bought a new position in Astrazeneca during the fourth quarter valued at $31,000. Finally, TFC Financial Management Inc. increased its position in Astrazeneca by 3,350.0% during the fourth quarter. TFC Financial Management Inc. now owns 345 shares of the company’s stock valued at $32,000 after acquiring an additional 335 shares during the last quarter. Institutional investors own 20.35% of the company’s stock.

Astrazeneca Trading Up 0.9%

NYSE AZN opened at $178.79 on Wednesday. The company’s 50-day moving average price is $188.26 and its 200-day moving average price is $186.16. 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 stock has a market cap of $277.29 billion, a PE ratio of 26.85, a PEG ratio of 1.54 and a beta of 0.25. Astrazeneca Plc has a 12 month low of $137.23 and a 12 month high of $212.71.

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

Analyst Upgrades and Downgrades

AZN has been the topic of a number of analyst reports. Wall Street Zen upgraded shares of 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 research report on Wednesday, April 8th. TD Cowen reiterated a “buy” rating on shares of Astrazeneca in a research report on Wednesday, March 18th. DZ Bank upgraded shares of Astrazeneca from a “neutral” rating to a “buy” rating in a research report on Wednesday, April 29th. Finally, Sanford C. Bernstein reiterated a “buy” rating on shares of Astrazeneca in a research report on Monday, May 4th. Twelve research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $205.33.

Astrazeneca Profile

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.