Nordea Investment Management AB Purchases New Stake in AstraZeneca PLC (NASDAQ:AZN)

Nordea Investment Management AB purchased a new stake in AstraZeneca PLC (NASDAQ:AZN) during the fourth quarter, HoldingsChannel reports. The firm purchased 11,478 shares of the company’s stock, valued at approximately $754,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. McClarren Financial Advisors Inc. grew its holdings in shares of AstraZeneca by 320.8% during the 3rd quarter. McClarren Financial Advisors Inc. now owns 324 shares of the company’s stock worth $25,000 after purchasing an additional 247 shares in the last quarter. GHP Investment Advisors Inc. bought a new stake in shares of AstraZeneca during the 2nd quarter worth $26,000. Capital Performance Advisors LLP bought a new stake in shares of AstraZeneca during the 3rd quarter worth $28,000. Ashton Thomas Securities LLC bought a new stake in shares of AstraZeneca during the 3rd quarter worth $45,000. Finally, Hollencrest Capital Management lifted its position in shares of AstraZeneca by 38.4% during the 3rd quarter. Hollencrest Capital Management now owns 692 shares of the company’s stock worth $54,000 after buying an additional 192 shares during the last quarter. 20.35% of the stock is owned by institutional investors and hedge funds.

AstraZeneca Price Performance

AstraZeneca stock opened at $67.01 on Monday. The company has a current ratio of 0.93, a quick ratio of 0.71 and a debt-to-equity ratio of 0.71. The company has a market capitalization of $207.77 billion, a PE ratio of 32.06, a P/E/G ratio of 1.19 and a beta of 0.46. AstraZeneca PLC has a 12 month low of $60.47 and a 12 month high of $87.68. The stock has a 50-day moving average price of $66.11 and a two-hundred day moving average price of $74.86.

AstraZeneca (NASDAQ:AZN) last posted its earnings results on Tuesday, November 12th. The company reported $1.04 EPS for the quarter, beating the consensus estimate of $1.01 by $0.03. AstraZeneca had a return on equity of 30.01% and a net margin of 12.68%. The firm had revenue of $13.57 billion during the quarter, compared to the consensus estimate of $13.08 billion. During the same period last year, the company earned $0.87 earnings per share. The business’s quarterly revenue was up 18.0% on a year-over-year basis. Analysts expect that AstraZeneca PLC will post 4.11 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. UBS Group upgraded AstraZeneca from a “sell” rating to a “neutral” rating in a research report on Wednesday, November 20th. Deutsche Bank Aktiengesellschaft upgraded AstraZeneca from a “sell” rating to a “hold” rating in a research report on Wednesday, November 6th. Two analysts have rated the stock with a hold rating, six have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, AstraZeneca presently has an average rating of “Buy” and a consensus target price of $89.75.

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.