Mirae Asset Global Investments Co. Ltd. Purchases New Stake in AstraZeneca Plc $AZN

Mirae Asset Global Investments Co. Ltd. purchased a new position in AstraZeneca Plc (NYSE:AZN) in the 3rd quarter, Holdings Channel reports. The institutional investor purchased 7,107 shares of the company’s stock, valued at approximately $1,148,000.

Other institutional investors have also added to or reduced their stakes in the company. Aries Wealth Management boosted its position in shares of AstraZeneca by 1.3% during the third quarter. Aries Wealth Management now owns 4,546 shares of the company’s stock worth $741,000 after acquiring an additional 60 shares during the last quarter. Triumph Capital Management increased its holdings in AstraZeneca by 32.6% in the 3rd quarter. Triumph Capital Management now owns 252 shares of the company’s stock valued at $41,000 after acquiring an additional 62 shares during the last quarter. Riversedge Advisors LLC lifted its stake in AstraZeneca by 2.9% in the 3rd quarter. Riversedge Advisors LLC now owns 2,347 shares of the company’s stock worth $379,000 after purchasing an additional 67 shares in the last quarter. Veery Capital LLC lifted its stake in AstraZeneca by 3.9% in the 3rd quarter. Veery Capital LLC now owns 1,857 shares of the company’s stock worth $300,000 after purchasing an additional 70 shares in the last quarter. Finally, Obermeyer Wealth Partners boosted its holdings in shares of AstraZeneca by 0.6% during the 3rd quarter. Obermeyer Wealth Partners now owns 11,705 shares of the company’s stock valued at $1,905,000 after purchasing an additional 70 shares during the last quarter. 20.35% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

AZN has been the subject of a number of research analyst reports. Citigroup restated a “buy” rating on shares of AstraZeneca in a research report on Tuesday, October 6th. Royal Bank Of Canada began coverage on AstraZeneca in a research note on Tuesday, September 8th. They set an “outperform” rating for the company. CICC Research initiated coverage on AstraZeneca in a report on Sunday, August 23rd. They set an “outperform” rating and a $198.00 price target for the company. Zacks Research upgraded AstraZeneca from a “strong sell” rating to a “hold” rating in a report on Tuesday, October 13th. Finally, HSBC downgraded AstraZeneca from a “buy” rating to a “hold” rating in a research note on Monday, July 13th. Sixteen research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $206.67.

AstraZeneca Price Performance

AZN stock opened at $186.62 on Monday. AstraZeneca Plc has a 52 week low of $153.41 and a 52 week high of $212.71. The company has a quick ratio of 0.79, a current ratio of 1.01 and a debt-to-equity ratio of 0.51. The company has a fifty day simple moving average of $166.48 and a two-hundred day simple moving average of $180.22. The firm has a market capitalization of $289.43 billion, a P/E ratio of 26.40, a price-to-earnings-growth ratio of 1.45 and a beta of 0.24.

AstraZeneca (NYSE:AZN) last posted its earnings results on Friday, October 30th. The company reported $2.79 earnings per share for the quarter, topping analysts’ consensus estimates of $2.60 by $0.19. AstraZeneca had a net margin of 17.68% and a return on equity of 31.85%. The firm had revenue of $16.21 billion for the quarter, compared to the consensus estimate of $16 billion. During the same period in the previous year, the firm posted $2.38 EPS. The business’s quarterly revenue was up 6.5% on a year-over-year basis. Analysts anticipate that AstraZeneca Plc will post 10.22 earnings per share for the current fiscal year.

AstraZeneca Profile

AstraZeneca plc is a global, science-led biopharmaceutical company headquartered in Cambridge, United Kingdom. The company discovers, develops and commercializes prescription medicines, with a focus on oncology, biopharmaceuticals and rare diseases. Its research and commercial operations serve patients and healthcare systems across more than 100 countries.

AstraZeneca’s portfolio includes medicines for cancer, respiratory and immune-mediated conditions, cardiovascular, renal and metabolic diseases, and rare disorders.