Pinnacle Financial Partners Inc Raises Position in AstraZeneca PLC (NASDAQ:AZN)

Pinnacle Financial Partners Inc boosted its position in shares of AstraZeneca PLC (NASDAQ:AZN) by 32.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,908 shares of the company’s stock after buying an additional 953 shares during the period. Pinnacle Financial Partners Inc’s holdings in AstraZeneca were worth $304,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in AZN. Price T Rowe Associates Inc. MD increased its position in shares of AstraZeneca by 17.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 61,271,974 shares of the company’s stock worth $4,151,177,000 after purchasing an additional 9,002,450 shares in the last quarter. Swedbank AB acquired a new stake in AstraZeneca during the 1st quarter worth $186,127,000. Manning & Napier Advisors LLC acquired a new stake in AstraZeneca during the 2nd quarter worth $188,476,000. Hsbc Holdings PLC grew its holdings in shares of AstraZeneca by 750.3% during the second quarter. Hsbc Holdings PLC now owns 1,283,274 shares of the company’s stock worth $100,523,000 after buying an additional 1,132,362 shares in the last quarter. Finally, Farallon Capital Management LLC raised its position 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 buying an additional 950,000 shares during the last quarter. Institutional investors and hedge funds own 20.35% of the company’s stock.

AstraZeneca Stock Down 0.4 %

Shares of NASDAQ AZN opened at $65.04 on Friday. AstraZeneca PLC has a 1 year low of $60.47 and a 1 year high of $87.68. The company has a market capitalization of $201.66 billion, a P/E ratio of 31.12, a P/E/G ratio of 1.21 and a beta of 0.47. The company has a 50 day simple moving average of $75.79 and a 200-day simple moving average of $78.38. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.93 and a quick ratio of 0.69.

AstraZeneca (NASDAQ:AZN) last posted its earnings results on Tuesday, November 12th. The company reported $1.04 EPS for the quarter, beating analysts’ consensus estimates of $1.01 by $0.03. The company had revenue of $13.57 billion for the quarter, compared to the consensus estimate of $13.08 billion. AstraZeneca had a return on equity of 30.01% and a net margin of 12.68%. The company’s revenue for the quarter was up 18.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.87 earnings per share. On average, equities research analysts predict that AstraZeneca PLC will post 4.07 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on AZN shares. TD Cowen boosted their price target 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. Deutsche Bank Aktiengesellschaft upgraded AstraZeneca from a “sell” rating to a “hold” rating in a report on Wednesday, November 6th. Finally, Erste Group Bank upgraded AstraZeneca from a “hold” rating to a “buy” rating in a research 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. Based on data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of $89.75.

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.