Jennison Associates LLC Sells 2,059,108 Shares of AstraZeneca PLC (NASDAQ:AZN)

Jennison Associates LLC decreased its position in AstraZeneca PLC (NASDAQ:AZN) by 12.1% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,964,547 shares of the company’s stock after selling 2,059,108 shares during the period. Jennison Associates LLC owned approximately 0.48% of AstraZeneca worth $1,165,888,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. McClarren Financial Advisors Inc. lifted its stake in AstraZeneca by 320.8% during the 3rd quarter. McClarren Financial Advisors Inc. now owns 324 shares of the company’s stock valued at $25,000 after acquiring an additional 247 shares during the period. GHP Investment Advisors Inc. bought a new position in AstraZeneca during the 2nd quarter valued at about $26,000. Capital Performance Advisors LLP bought a new position in AstraZeneca during the 3rd quarter valued at about $28,000. Pathway Financial Advisers LLC bought a new position in AstraZeneca during the 1st quarter valued at about $29,000. Finally, CANADA LIFE ASSURANCE Co lifted its stake in AstraZeneca by 40.6% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 506 shares of the company’s stock valued at $34,000 after acquiring an additional 146 shares during the period. Institutional investors own 20.35% of the company’s stock.

AstraZeneca Trading Up 0.6 %

AstraZeneca stock opened at $63.80 on Wednesday. The firm has a 50 day moving average of $74.34 and a 200 day moving average of $78.06. The firm has a market capitalization of $197.82 billion, a price-to-earnings ratio of 30.53, a P/E/G ratio of 1.17 and a beta of 0.47. AstraZeneca PLC has a 12-month low of $60.47 and a 12-month high of $87.68. The company has a current ratio of 0.93, a quick ratio of 0.71 and a debt-to-equity ratio of 0.71.

AstraZeneca (NASDAQ:AZN) last released its earnings results on Tuesday, November 12th. The company reported $1.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.01 by $0.03. The company had revenue of $13.57 billion during the quarter, compared to analyst estimates of $13.08 billion. AstraZeneca had a net margin of 12.68% and a return on equity of 30.01%. The firm’s quarterly revenue was up 18.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.87 EPS. As a group, research analysts predict that AstraZeneca PLC will post 4.07 earnings per share for the current year.

Wall Street Analyst Weigh In

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

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.