Farallon Capital Management LLC Buys 950,000 Shares of AstraZeneca PLC (NASDAQ:AZN)

Farallon Capital Management LLC lifted its position in AstraZeneca PLC (NASDAQ:AZN) by 65.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,409,718 shares of the company’s stock after buying an additional 950,000 shares during the quarter. Farallon Capital Management LLC owned about 0.08% of AstraZeneca worth $187,934,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Lindbrook Capital LLC lifted its position in shares of AstraZeneca by 1.7% in the first quarter. Lindbrook Capital LLC now owns 8,005 shares of the company’s stock valued at $542,000 after buying an additional 137 shares during the last quarter. Bruce G. Allen Investments LLC boosted its position in AstraZeneca by 19.1% during the second quarter. Bruce G. Allen Investments LLC now owns 860 shares of the company’s stock worth $67,000 after purchasing an additional 138 shares during the period. Carnegie Investment Counsel increased its holdings in shares of AstraZeneca by 0.8% in the second quarter. Carnegie Investment Counsel now owns 17,269 shares of the company’s stock valued at $1,347,000 after purchasing an additional 138 shares during the last quarter. CANADA LIFE ASSURANCE Co raised its position in shares of AstraZeneca by 40.6% in the first quarter. CANADA LIFE ASSURANCE Co now owns 506 shares of the company’s stock valued at $34,000 after purchasing an additional 146 shares during the period. Finally, Sunpointe LLC lifted its stake in shares of AstraZeneca by 4.5% during the 2nd quarter. Sunpointe LLC now owns 3,419 shares of the company’s stock worth $267,000 after buying an additional 147 shares during the last quarter. 20.35% of the stock is currently owned by institutional investors and hedge funds.

AstraZeneca Stock Performance

AstraZeneca stock opened at $77.14 on Tuesday. The business’s 50-day moving average price is $81.80 and its two-hundred day moving average price is $76.73. AstraZeneca PLC has a 12-month low of $60.47 and a 12-month high of $87.68. The company has a quick ratio of 0.69, a current ratio of 0.89 and a debt-to-equity ratio of 0.69. The stock has a market cap of $239.17 billion, a PE ratio of 37.81, a P/E/G ratio of 1.49 and a beta of 0.47.

AstraZeneca (NASDAQ:AZN) last released its quarterly earnings data on Thursday, July 25th. The company reported $0.99 earnings per share for the quarter, beating the consensus estimate of $0.98 by $0.01. The company had revenue of $12.45 billion for the quarter, compared to the consensus estimate of $12.62 billion. AstraZeneca had a return on equity of 29.34% and a net margin of 13.11%. AstraZeneca’s revenue for the quarter was up 9.1% on a year-over-year basis. During the same quarter last year, the business posted $1.08 EPS. As a group, analysts expect that AstraZeneca PLC will post 4.05 earnings per share for the current fiscal year.

AstraZeneca Cuts Dividend

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

Analyst Ratings Changes

A number of research analysts recently commented on the stock. Barclays upgraded shares of AstraZeneca to a “strong-buy” rating in a research note on Monday, June 24th. TD Cowen increased their price target on 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 cut AstraZeneca from a “hold” rating to a “sell” rating in a report on Friday, September 13th. Erste Group Bank raised AstraZeneca from a “hold” rating to a “buy” rating in a report on Wednesday, September 11th. Finally, Argus raised their price target on AstraZeneca from $80.00 to $85.00 and gave the stock a “buy” rating in a research report on Thursday, May 30th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, seven have issued a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus 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.