MAI Capital Management Lowers Holdings in AstraZeneca PLC (NASDAQ:AZN)

MAI Capital Management cut its holdings in shares of AstraZeneca PLC (NASDAQ:AZN) by 29.0% during the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 13,556 shares of the company’s stock after selling 5,525 shares during the period. MAI Capital Management’s holdings in AstraZeneca were worth $1,056,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of AZN. Martin Investment Management LLC grew its stake in AstraZeneca by 2.8% during the 3rd quarter. Martin Investment Management LLC now owns 284,204 shares of the company’s stock worth $22,571,000 after buying an additional 7,615 shares during the last quarter. Integrated Advisors Network LLC raised its holdings in AstraZeneca by 46.6% in the 3rd quarter. Integrated Advisors Network LLC now owns 43,610 shares of the company’s stock worth $3,398,000 after purchasing an additional 13,860 shares during the period. Creative Planning lifted its position in shares of AstraZeneca by 8.0% during the 3rd quarter. Creative Planning now owns 224,751 shares of the company’s stock valued at $17,510,000 after buying an additional 16,692 shares in the last quarter. Northcape Wealth Management LLC purchased a new position in AstraZeneca during the second quarter valued at $269,000. Finally, Cetera Advisors LLC lifted its stake in AstraZeneca by 124.5% in the 1st quarter. Cetera Advisors LLC now owns 98,262 shares of the company’s stock valued at $6,657,000 after buying an additional 54,488 shares in the last quarter. Institutional investors own 20.35% of the company’s stock.

Analyst Upgrades and Downgrades

AZN has been the topic of several recent research reports. Erste Group Bank raised shares of 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. UBS Group raised shares of AstraZeneca from a “sell” rating to a “neutral” rating in a research note on Wednesday. Finally, TD Cowen lifted 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. Three investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, AstraZeneca presently has an average rating of “Moderate Buy” and an average price target of $89.75.

AstraZeneca Stock Up 1.5 %

NASDAQ:AZN opened at $64.13 on Friday. AstraZeneca PLC has a 52 week low of $60.47 and a 52 week high of $87.68. The stock’s fifty day moving average is $73.69 and its two-hundred day moving average is $77.86. The stock has a market capitalization of $198.83 billion, a price-to-earnings ratio of 30.68, a price-to-earnings-growth ratio of 1.17 and a beta of 0.47. The company has a quick ratio of 0.71, a current ratio of 0.93 and a debt-to-equity ratio of 0.71.

AstraZeneca (NASDAQ:AZN) last posted 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 firm had revenue of $13.57 billion for the quarter, compared to analyst estimates of $13.08 billion. AstraZeneca had a return on equity of 30.01% and a net margin of 12.68%. AstraZeneca’s revenue was up 18.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.87 EPS. Research analysts anticipate that AstraZeneca PLC will post 4.1 EPS for the current year.

AstraZeneca Company 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.