Sumitomo Mitsui Trust Group Inc. Purchases 9,795 Shares of AstraZeneca PLC (NASDAQ:AZN)

Sumitomo Mitsui Trust Group Inc. boosted its stake in AstraZeneca PLC (NASDAQ:AZN - Free Report) by 13.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 84,511 shares of the company's stock after acquiring an additional 9,795 shares during the period. Sumitomo Mitsui Trust Group Inc.'s holdings in AstraZeneca were worth $6,584,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of AZN. Stratos Wealth Advisors LLC lifted its stake in shares of AstraZeneca by 2.0% in the 3rd quarter. Stratos Wealth Advisors LLC now owns 6,699 shares of the company's stock worth $522,000 after acquiring an additional 133 shares during the period. Bruce G. Allen Investments LLC increased its position in shares of AstraZeneca by 19.1% during the 2nd quarter. Bruce G. Allen Investments LLC now owns 860 shares of the company's stock valued at $67,000 after purchasing an additional 138 shares during the period. Carnegie Investment Counsel lifted its holdings in shares of AstraZeneca by 0.8% in the second quarter. Carnegie Investment Counsel now owns 17,269 shares of the company's stock valued at $1,347,000 after buying an additional 138 shares during the period. Crumly & Associates Inc. boosted its stake in AstraZeneca by 2.2% during the third quarter. Crumly & Associates Inc. now owns 6,644 shares of the company's stock valued at $518,000 after buying an additional 143 shares in the last quarter. Finally, CANADA LIFE ASSURANCE Co raised its position in AstraZeneca by 40.6% in the first quarter. CANADA LIFE ASSURANCE Co now owns 506 shares of the company's stock worth $34,000 after acquiring an additional 146 shares in the last quarter. Institutional investors own 20.35% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Erste Group Bank raised AstraZeneca from a "hold" rating to a "buy" rating in a research note on Wednesday, September 11th. Deutsche Bank Aktiengesellschaft upgraded shares of AstraZeneca from a "sell" rating to a "hold" rating in a research report on Wednesday, November 6th. Finally, TD Cowen increased 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. Two analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat, AstraZeneca presently has an average rating of "Buy" and a consensus target price of $89.75.

AstraZeneca Stock Up 0.6 %

Shares of AstraZeneca stock traded up $0.41 during midday trading on Tuesday, reaching $63.80. 4,868,255 shares of the company's stock traded hands, compared to its average volume of 5,290,539. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.71 and a current ratio of 0.93. The company has a market cap of $197.82 billion, a price-to-earnings ratio of 30.33, a price-to-earnings-growth ratio of 1.17 and a beta of 0.47. AstraZeneca PLC has a 52 week low of $60.47 and a 52 week high of $87.68. The company's 50 day simple moving average is $74.68 and its 200 day simple moving average is $78.15.

AstraZeneca (NASDAQ:AZN - Get Free Report) last posted its quarterly earnings data 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. AstraZeneca had a net margin of 12.68% and a return on equity of 30.01%. The business had revenue of $13.57 billion during the quarter, compared to the consensus estimate of $13.08 billion. During the same period in the prior year, the firm earned $0.87 EPS. AstraZeneca's quarterly revenue was up 18.0% compared to the same quarter last year. Equities analysts expect that AstraZeneca PLC will post 4.07 earnings per share for the current fiscal year.

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.