AstraZeneca PLC (NASDAQ:AZN) Shares Sold by Jennison Associates LLC

Jennison Associates LLC lowered its stake in shares of AstraZeneca PLC (NASDAQ:AZN - Free Report) by 12.1% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 14,964,547 shares of the company's stock after selling 2,059,108 shares during the quarter. Jennison Associates LLC owned about 0.48% of AstraZeneca worth $1,165,888,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of the business. Commerce Bank lifted its position in AstraZeneca by 6.2% during the third quarter. Commerce Bank now owns 19,413 shares of the company's stock valued at $1,512,000 after purchasing an additional 1,131 shares in the last quarter. Prospera Private Wealth LLC bought a new stake in shares of AstraZeneca in the 3rd quarter worth about $154,000. West Family Investments Inc. grew its position in AstraZeneca by 12.4% in the 3rd quarter. West Family Investments Inc. now owns 14,920 shares of the company's stock valued at $1,162,000 after acquiring an additional 1,643 shares during the last quarter. PNC Financial Services Group Inc. increased its holdings in AstraZeneca by 2.0% during the 3rd quarter. PNC Financial Services Group Inc. now owns 238,228 shares of the company's stock worth $18,560,000 after purchasing an additional 4,580 shares during the period. Finally, SouthState Corp lifted its stake in AstraZeneca by 1.6% in the third quarter. SouthState Corp now owns 64,747 shares of the company's stock worth $5,044,000 after acquiring an additional 1,025 shares during the period. Institutional investors own 20.35% of the company's stock.

Analysts Set New Price Targets

Several 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. TD Cowen boosted their price target on AstraZeneca from $90.00 to $95.00 and gave the stock a "buy" rating in a research report on Monday, August 12th. UBS Group upgraded AstraZeneca from a "sell" rating to a "neutral" rating in a report on Wednesday. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of AstraZeneca from a "sell" rating to a "hold" rating in a research report on Wednesday, November 6th. Three equities research analysts have rated the stock with a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $89.75.

AstraZeneca Price Performance

AstraZeneca stock traded down $0.65 during trading hours on Wednesday, hitting $63.15. The stock had a trading volume of 4,167,470 shares, compared to its average volume of 5,290,559. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.93 and a quick ratio of 0.71. The stock's fifty day moving average is $74.34 and its two-hundred day moving average is $78.06. AstraZeneca PLC has a 1-year low of $60.47 and a 1-year high of $87.68. The stock has a market capitalization of $195.80 billion, a price-to-earnings ratio of 30.53, a PEG ratio of 1.17 and a beta of 0.47.

AstraZeneca (NASDAQ:AZN - Get Free Report) last posted 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 firm 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%. During the same quarter in the previous year, the business earned $0.87 earnings per share. The firm's quarterly revenue was up 18.0% compared to the same quarter last year. As a group, analysts predict that AstraZeneca PLC will post 4.07 earnings per share for the current fiscal 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.