Polymer Capital Management HK LTD Makes New Investment in AstraZeneca PLC (NASDAQ:AZN)

Polymer Capital Management HK LTD bought a new stake in AstraZeneca PLC (NASDAQ:AZN) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 15,350 shares of the company’s stock, valued at approximately $1,006,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Cibc World Markets Corp boosted its holdings in shares of AstraZeneca by 1.1% during the fourth quarter. Cibc World Markets Corp now owns 12,901 shares of the company’s stock worth $845,000 after purchasing an additional 142 shares during the period. Diversify Wealth Management LLC boosted its stake in shares of AstraZeneca by 3.6% during the 4th quarter. Diversify Wealth Management LLC now owns 4,402 shares of the company’s stock valued at $295,000 after buying an additional 153 shares during the period. Veery Capital LLC grew its holdings in shares of AstraZeneca by 4.7% during the 4th quarter. Veery Capital LLC now owns 3,503 shares of the company’s stock valued at $230,000 after acquiring an additional 157 shares in the last quarter. Rehmann Capital Advisory Group increased its stake in shares of AstraZeneca by 1.8% in the third quarter. Rehmann Capital Advisory Group now owns 10,027 shares of the company’s stock worth $788,000 after acquiring an additional 175 shares during the last quarter. Finally, Dorsey & Whitney Trust CO LLC raised its holdings in shares of AstraZeneca by 0.5% during the fourth quarter. Dorsey & Whitney Trust CO LLC now owns 35,300 shares of the company’s stock worth $2,313,000 after acquiring an additional 189 shares in the last quarter. Institutional investors and hedge funds own 20.35% of the company’s stock.

AstraZeneca Stock Down 7.4 %

Shares of AstraZeneca stock opened at $68.46 on Monday. AstraZeneca PLC has a 12-month low of $62.75 and a 12-month high of $87.68. The company has a quick ratio of 0.74, a current ratio of 0.93 and a debt-to-equity ratio of 0.65. The stock has a 50 day moving average price of $73.96 and a two-hundred day moving average price of $71.38. The stock has a market capitalization of $212.31 billion, a P/E ratio of 30.29, a PEG ratio of 1.42 and a beta of 0.49.

AstraZeneca (NASDAQ:AZN) last posted its quarterly earnings data on Thursday, February 6th. The company reported $1.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.10 by ($0.05). AstraZeneca had a return on equity of 32.23% and a net margin of 13.01%. Equities analysts expect that AstraZeneca PLC will post 4.51 earnings per share for the current year.

AstraZeneca Increases Dividend

The firm also recently disclosed a semi-annual dividend, which was paid on Monday, March 24th. Investors of record on Friday, February 21st were given a dividend of $1.03 per share. This represents a dividend yield of 2%. The ex-dividend date was Friday, February 21st. This is a boost from AstraZeneca’s previous semi-annual dividend of $0.49. AstraZeneca’s payout ratio is currently 91.15%.

Analyst Ratings Changes

Several research analysts have weighed in on the company. UBS Group raised AstraZeneca from a “neutral” rating to a “buy” rating in a research report on Thursday, February 13th. Morgan Stanley initiated coverage on shares of AstraZeneca in a research report on Wednesday, February 12th. They set an “overweight” rating on the stock. One research analyst has 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. According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target 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.