The Manufacturers Life Insurance Company Sells 2,033 Shares of AstraZeneca PLC (NASDAQ:AZN)

The Manufacturers Life Insurance Company reduced its holdings in shares of AstraZeneca PLC (NASDAQ:AZN) by 1.0% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 204,413 shares of the company’s stock after selling 2,033 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in AstraZeneca were worth $15,919,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of AZN. CANADA LIFE ASSURANCE Co boosted its stake in AstraZeneca by 40.6% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 506 shares of the company’s stock worth $34,000 after purchasing an additional 146 shares during the period. Tidal Investments LLC purchased a new position in AstraZeneca during the first quarter valued at approximately $327,000. Cetera Investment Advisers increased its holdings in AstraZeneca by 249.0% during the 1st quarter. Cetera Investment Advisers now owns 207,497 shares of the company’s stock worth $14,058,000 after acquiring an additional 148,042 shares during the period. Boston Partners purchased a new stake in AstraZeneca in the 1st quarter worth approximately $309,000. Finally, DekaBank Deutsche Girozentrale boosted its holdings in AstraZeneca by 0.4% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 81,600 shares of the company’s stock valued at $5,509,000 after purchasing an additional 288 shares during the period. 20.35% of the stock is currently owned by hedge funds and other institutional investors.

AstraZeneca Stock Performance

NASDAQ:AZN opened at $67.62 on Monday. AstraZeneca PLC has a 1-year low of $60.47 and a 1-year high of $87.68. 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 business has a 50 day moving average of $72.27 and a 200 day moving average of $77.44. The company has a market capitalization of $209.66 billion, a price-to-earnings ratio of 32.35, a PEG ratio of 1.24 and a beta of 0.47.

AstraZeneca (NASDAQ:AZN) last announced its quarterly earnings data on Tuesday, November 12th. The company reported $1.04 earnings per share for the quarter, topping analysts’ consensus estimates of $1.01 by $0.03. AstraZeneca had a net margin of 12.68% and a return on equity of 30.01%. The firm had revenue of $13.57 billion during the quarter, compared to analyst estimates of $13.08 billion. During the same period in the previous year, the business posted $0.87 EPS. The business’s quarterly revenue was up 18.0% on a year-over-year basis. On average, sell-side analysts predict that AstraZeneca PLC will post 4.1 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on AZN. Deutsche Bank Aktiengesellschaft raised shares of AstraZeneca from a “sell” rating to a “hold” rating in a report on Wednesday, November 6th. Erste Group Bank raised AstraZeneca from a “hold” rating to a “buy” rating in a report on Wednesday, September 11th. UBS Group upgraded AstraZeneca from a “sell” rating to a “neutral” rating in a research report on Wednesday, November 20th. Finally, TD Cowen upped their price objective on shares of AstraZeneca from $90.00 to $95.00 and gave the stock a “buy” rating in a research report on Monday, August 12th. Three investment analysts have rated the stock with a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus 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.