Renaissance Technologies LLC Sells 632,444 Shares of AstraZeneca PLC (NASDAQ:AZN)

Renaissance Technologies LLC reduced its holdings in shares of AstraZeneca PLC (NASDAQ:AZN) by 91.7% during the second quarter, HoldingsChannel reports. The firm owned 57,500 shares of the company’s stock after selling 632,444 shares during the period. Renaissance Technologies LLC’s holdings in AstraZeneca were worth $4,484,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently made changes to their positions in the company. Cox Capital Mgt LLC purchased a new position in shares of AstraZeneca during the 1st quarter valued at $2,683,000. TD Asset Management Inc increased its stake in AstraZeneca by 8.6% in the 1st quarter. TD Asset Management Inc now owns 1,537,410 shares of the company’s stock worth $104,160,000 after buying an additional 121,876 shares during the period. Northcape Wealth Management LLC bought a new stake in AstraZeneca during the 2nd quarter valued at about $269,000. Wealthcare Advisory Partners LLC increased its holdings in AstraZeneca by 9.7% during the 1st quarter. Wealthcare Advisory Partners LLC now owns 6,136 shares of the company’s stock worth $416,000 after purchasing an additional 543 shares during the period. Finally, Cetera Advisors LLC lifted its holdings in shares of AstraZeneca by 124.5% in the 1st quarter. Cetera Advisors LLC now owns 98,262 shares of the company’s stock worth $6,657,000 after buying an additional 54,488 shares during the period. 20.35% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently commented on AZN. Deutsche Bank Aktiengesellschaft lowered shares of AstraZeneca from a “hold” rating to a “sell” rating in a research note on Friday, September 13th. Citigroup raised AstraZeneca to a “strong-buy” rating in a report on Monday, June 24th. TD Cowen raised 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. Barclays upgraded AstraZeneca to a “strong-buy” rating in a research report on Monday, June 24th. Finally, Erste Group Bank raised AstraZeneca from a “hold” rating to a “buy” rating in a report on Wednesday, September 11th. One analyst has rated the stock with a sell rating, one has given a hold rating, seven have given a buy rating and three have given a strong buy rating to the stock. According to MarketBeat.com, AstraZeneca has an average rating of “Buy” and an average price target of $89.75.

AstraZeneca Price Performance

Shares of AZN stock opened at $77.62 on Friday. AstraZeneca PLC has a 12 month low of $60.47 and a 12 month high of $87.68. The company has a market capitalization of $240.66 billion, a PE ratio of 38.05, a price-to-earnings-growth ratio of 1.45 and a beta of 0.47. The firm’s 50-day moving average is $81.68 and its two-hundred day moving average is $76.97. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.89 and a quick ratio of 0.69.

AstraZeneca (NASDAQ:AZN) last posted its earnings results on Thursday, July 25th. The company reported $0.99 EPS for the quarter, beating analysts’ consensus estimates of $0.98 by $0.01. AstraZeneca had a net margin of 13.11% and a return on equity of 29.34%. The company had revenue of $12.45 billion for the quarter, compared to analysts’ expectations of $12.62 billion. During the same quarter in the prior year, the company posted $1.08 earnings per share. AstraZeneca’s revenue for the quarter was up 9.1% compared to the same quarter last year. Analysts predict that AstraZeneca PLC will post 4.05 earnings per share for the current year.

AstraZeneca Cuts Dividend

The company also recently announced a Semi-Annual dividend, which was paid on Monday, September 9th. Shareholders of record on Friday, August 9th were given a $0.49 dividend. This represents a yield of 1.8%. The ex-dividend date was Friday, August 9th. AstraZeneca’s dividend payout ratio is currently 48.04%.

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.