SpiderRock Advisors LLC Purchases 27,505 Shares of AstraZeneca PLC (NASDAQ:AZN)

SpiderRock Advisors LLC increased its holdings in shares of AstraZeneca PLC (NASDAQ:AZN - Free Report) by 327.6% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 35,902 shares of the company's stock after purchasing an additional 27,505 shares during the period. SpiderRock Advisors LLC's holdings in AstraZeneca were worth $2,797,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in AZN. Price T Rowe Associates Inc. MD grew its stake in AstraZeneca by 17.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 61,271,974 shares of the company's stock valued at $4,151,177,000 after acquiring an additional 9,002,450 shares during the period. Swedbank AB acquired a new stake in AstraZeneca in the first quarter valued at approximately $186,127,000. Manning & Napier Advisors LLC acquired a new stake in AstraZeneca in the second quarter valued at approximately $188,476,000. Hsbc Holdings PLC lifted its holdings in shares of AstraZeneca by 750.3% in the second quarter. Hsbc Holdings PLC now owns 1,283,274 shares of the company's stock valued at $100,523,000 after purchasing an additional 1,132,362 shares in the last quarter. Finally, Farallon Capital Management LLC lifted its holdings in shares of AstraZeneca by 65.1% in the second quarter. Farallon Capital Management LLC now owns 2,409,718 shares of the company's stock valued at $187,934,000 after purchasing an additional 950,000 shares in the last quarter. Institutional investors and hedge funds own 20.35% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on AZN shares. Deutsche Bank Aktiengesellschaft upgraded AstraZeneca from a "sell" rating to a "hold" rating in a report on Wednesday. TD Cowen raised their target price on AstraZeneca from $90.00 to $95.00 and gave the company a "buy" rating in a report on Monday, August 12th. Finally, Erste Group Bank upgraded AstraZeneca from a "hold" rating to a "buy" rating in a report on Wednesday, September 11th. Two research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Buy" and a consensus price target of $89.75.

AstraZeneca Stock Performance

AstraZeneca stock traded down $0.20 during mid-day trading on Friday, reaching $64.49. 10,277,863 shares of the company's stock were exchanged, compared to its average volume of 5,494,034. The business's fifty day simple moving average is $77.07 and its 200 day simple moving average is $78.62. The firm has a market capitalization of $199.96 billion, a PE ratio of 31.15, a P/E/G ratio of 1.19 and a beta of 0.47. AstraZeneca PLC has a one year low of $60.47 and a one year high of $87.68. The company has a quick ratio of 0.69, a current ratio of 0.89 and a debt-to-equity ratio of 0.69.

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.