Astrazeneca Plc (AZN) Shareholder Tekla Capital Management LLC Has Raised Position by $11.77 Million as Stock Rose

October 13, 2018 - By Ruchi Gupta

AstraZeneca PLC (NYSE:AZN) Logo

Tekla Capital Management Llc increased its stake in Astrazeneca Plc (AZN) by 75.98% based on its latest 2018Q2 regulatory filing with the SEC. Tekla Capital Management Llc bought 336,288 shares as the company’s stock rose 4.73% with the market. The institutional investor held 778,888 shares of the major pharmaceuticals company at the end of 2018Q2, valued at $27.35 million, up from 442,600 at the end of the previous reported quarter. Tekla Capital Management Llc who had been investing in Astrazeneca Plc for a number of months, seems to be bullish on the $92.96 billion market cap company. The stock decreased 1.30% or $0.49 during the last trading session, reaching $37.15. About 3.69 million shares traded. AstraZeneca PLC (NYSE:AZN) has risen 13.38% since October 13, 2017 and is uptrending. It has underperformed by 2.24% the S&P500.

Tekla Capital Management Llc, which manages about $1.06 billion and $2.64 billion US Long portfolio, decreased its stake in Abbott Laboratories (NYSE:ABT) by 171,600 shares to 627,019 shares, valued at $38.24M in 2018Q2, according to the filing. It also reduced its holding in Eli Lilly And Company (NYSE:LLY) by 96,757 shares in the quarter, leaving it with 390,108 shares, and cut its stake in Centene Corporation (NYSE:CNC).

More important recent AstraZeneca PLC (NYSE:AZN) news were published by: Fool.com which released: “3 Big Pharma Stocks Racing Along the Road to China” on October 12, 2018, also Seekingalpha.com published article titled: “PhaseBio on deck for IPO”, Seekingalpha.com published: “AstraZeneca aims to build lead in China” on September 19, 2018. More interesting news about AstraZeneca PLC (NYSE:AZN) was released by: Seekingalpha.com and their article: “PhaseBio IPO: Data To Be Released In 2018 And 2020” with publication date: October 12, 2018.

AstraZeneca PLC (NYSE:AZN) Ratings Coverage

Among 2 analysts covering AstraZeneca (NYSE:AZN), 0 have Buy rating, 0 Sell and 2 Hold. Therefore 0 are positive. AstraZeneca had 2 analyst reports since June 12, 2018 according to SRatingsIntel. On Thursday, August 16 the stock rating was downgraded by Jefferies to “Hold”. Morningstar maintained the stock with “Hold” rating in Tuesday, June 12 report.

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