Essex Savings Bank Raises Stock Holdings in AstraZeneca PLC (NASDAQ:AZN)

Essex Savings Bank grew its stake in AstraZeneca PLC (NASDAQ:AZN) by 7.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,830 shares of the company’s stock after acquiring an additional 382 shares during the quarter. Essex Savings Bank’s holdings in AstraZeneca were worth $454,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in AZN. Price T Rowe Associates Inc. MD lifted its position in 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 buying an additional 9,002,450 shares during the period. Capital World Investors increased its stake in AstraZeneca by 0.3% during the first quarter. Capital World Investors now owns 9,365,676 shares of the company’s stock worth $634,525,000 after acquiring an additional 29,497 shares during the last quarter. Envestnet Asset Management Inc. increased its stake in AstraZeneca by 16.7% during the second quarter. Envestnet Asset Management Inc. now owns 3,417,933 shares of the company’s stock worth $266,565,000 after acquiring an additional 488,644 shares during the last quarter. Clearbridge Investments LLC increased its stake in AstraZeneca by 5.8% during the second quarter. Clearbridge Investments LLC now owns 3,403,748 shares of the company’s stock worth $265,458,000 after acquiring an additional 186,010 shares during the last quarter. Finally, Fayez Sarofim & Co grew its stake in shares of AstraZeneca by 4.7% in the first quarter. Fayez Sarofim & Co now owns 2,990,234 shares of the company’s stock valued at $202,588,000 after buying an additional 134,784 shares in the last quarter. 20.35% of the stock is currently owned by hedge funds and other institutional investors.

AstraZeneca Trading Down 0.3 %

AstraZeneca stock opened at $64.49 on Friday. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.69 and a current ratio of 0.89. The business’s 50-day simple moving average is $77.07 and its 200-day simple moving average is $78.56. The firm has a market capitalization of $199.96 billion, a PE ratio of 31.15, a PEG ratio of 1.19 and a beta of 0.47. AstraZeneca PLC has a 52 week low of $60.47 and a 52 week high of $87.68.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. TD Cowen raised their price objective on AstraZeneca from $90.00 to $95.00 and gave the company a “buy” rating in a research note on Monday, August 12th. Erste Group Bank upgraded AstraZeneca from a “hold” rating to a “buy” rating in a research report on Wednesday, September 11th. Finally, Deutsche Bank Aktiengesellschaft upgraded AstraZeneca from a “sell” rating to a “hold” rating in a report on Wednesday. Two research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, AstraZeneca has a consensus rating of “Buy” and an average price target 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.