Naviter Wealth LLC Grows Stake in AstraZeneca PLC (NASDAQ:AZN)

Naviter Wealth LLC boosted its position in AstraZeneca PLC (NASDAQ:AZN) by 33.5% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 63,162 shares of the company’s stock after purchasing an additional 15,834 shares during the period. Naviter Wealth LLC’s holdings in AstraZeneca were worth $4,279,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Anchor Investment Management LLC purchased a new position in AstraZeneca during the fourth quarter worth $26,000. Compagnie Lombard Odier SCmA purchased a new position in AstraZeneca during the fourth quarter worth $27,000. Able Wealth Management LLC purchased a new position in AstraZeneca during the fourth quarter worth $27,000. Pin Oak Investment Advisors Inc. increased its position in AstraZeneca by 468.4% during the fourth quarter. Pin Oak Investment Advisors Inc. now owns 449 shares of the company’s stock worth $30,000 after buying an additional 370 shares in the last quarter. Finally, Jones Financial Companies Lllp increased its position in AstraZeneca by 86.7% during the fourth quarter. Jones Financial Companies Lllp now owns 506 shares of the company’s stock worth $34,000 after buying an additional 235 shares in the last quarter. 20.35% of the stock is owned by hedge funds and other institutional investors.

AstraZeneca Stock Down 1.2 %

Shares of NASDAQ AZN traded down $0.95 during midday trading on Tuesday, reaching $76.99. 3,215,465 shares of the company’s stock were exchanged, compared to its average volume of 5,548,286. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.70 and a current ratio of 0.89. The stock has a market capitalization of $238.71 billion, a PE ratio of 37.74, a price-to-earnings-growth ratio of 1.40 and a beta of 0.45. AstraZeneca PLC has a 52-week low of $60.47 and a 52-week high of $80.86. The business’s fifty day moving average price is $77.80 and its two-hundred day moving average price is $70.59.

AstraZeneca (NASDAQ:AZN) last announced its quarterly earnings data on Thursday, April 25th. The company reported $1.03 earnings per share for the quarter, beating the consensus estimate of $0.95 by $0.08. The firm had revenue of $12.68 billion during the quarter, compared to analyst estimates of $11.92 billion. AstraZeneca had a return on equity of 30.42% and a net margin of 13.30%. Analysts forecast that AstraZeneca PLC will post 4.04 EPS for the current year.

Wall Street Analyst Weigh In

AZN has been the topic of several analyst reports. Citigroup upgraded AstraZeneca to a “strong-buy” rating in a report on Monday, June 24th. Barclays upgraded AstraZeneca to a “strong-buy” rating in a report on Monday, June 24th. Deutsche Bank Aktiengesellschaft upgraded AstraZeneca from a “sell” rating to a “hold” rating in a report on Tuesday, April 16th. Argus raised their price objective on AstraZeneca from $80.00 to $85.00 and gave the stock a “buy” rating in a report on Thursday, May 30th. Finally, The Goldman Sachs Group initiated coverage on AstraZeneca in a report on Thursday, May 30th. They set a “buy” rating and a $97.00 price objective on the stock. Three research analysts have rated the stock with a hold rating, six have issued a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat.com, AstraZeneca presently has an average rating of “Buy” and an average target price of $88.00.

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.