Redmont Wealth Advisors LLC Acquires New Position in AstraZeneca PLC (NASDAQ:AZN)

Redmont Wealth Advisors LLC acquired a new stake in AstraZeneca PLC (NASDAQ:AZN) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 698 shares of the company’s stock, valued at approximately $47,000.

A number of other hedge funds have also recently added to or reduced their stakes in AZN. Wellington Management Group LLP increased its holdings in AstraZeneca by 0.7% in the third quarter. Wellington Management Group LLP now owns 49,492,814 shares of the company’s stock valued at $3,351,653,000 after buying an additional 358,399 shares in the last quarter. Capital International Investors increased its stake in shares of AstraZeneca by 0.5% during the 4th quarter. Capital International Investors now owns 34,782,762 shares of the company’s stock worth $2,342,367,000 after purchasing an additional 164,183 shares in the last quarter. Sanders Capital LLC increased its stake in shares of AstraZeneca by 39.0% during the 4th quarter. Sanders Capital LLC now owns 14,684,066 shares of the company’s stock worth $988,972,000 after purchasing an additional 4,122,965 shares in the last quarter. CIBC Private Wealth Group LLC increased its stake in shares of AstraZeneca by 9.3% during the 4th quarter. CIBC Private Wealth Group LLC now owns 10,424,914 shares of the company’s stock worth $708,617,000 after purchasing an additional 889,178 shares in the last quarter. Finally, Fisher Asset Management LLC increased its stake in shares of AstraZeneca by 2.5% during the 4th quarter. Fisher Asset Management LLC now owns 9,404,023 shares of the company’s stock worth $633,361,000 after purchasing an additional 233,015 shares in the last quarter. Institutional investors and hedge funds own 20.35% of the company’s stock.

AstraZeneca Trading Down 0.2 %

Shares of AZN traded down $0.19 during mid-day trading on Wednesday, reaching $76.80. The company had a trading volume of 2,377,499 shares, compared to its average volume of 5,524,869. The company has a current ratio of 0.89, a quick ratio of 0.70 and a debt-to-equity ratio of 0.73. The stock has a market cap of $238.12 billion, a price-to-earnings ratio of 37.74, a price-to-earnings-growth ratio of 1.40 and a beta of 0.45. The firm has a fifty day simple moving average of $77.80 and a 200-day simple moving average of $70.59. AstraZeneca PLC has a fifty-two week low of $60.47 and a fifty-two week high of $80.86.

AstraZeneca (NASDAQ:AZN) last posted its earnings results 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 business had revenue of $12.68 billion for the quarter, compared to analyst estimates of $11.92 billion. AstraZeneca had a net margin of 13.30% and a return on equity of 30.42%. On average, sell-side analysts anticipate that AstraZeneca PLC will post 4.04 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the stock. BMO Capital Markets raised their price objective on shares of AstraZeneca from $80.00 to $82.00 and gave the stock an “outperform” rating in a research note on Friday, April 26th. Barclays raised shares of AstraZeneca to a “strong-buy” rating in a research note on Monday, June 24th. Citigroup raised shares of AstraZeneca to a “strong-buy” rating in a research note on Monday, June 24th. The Goldman Sachs Group began coverage on shares of AstraZeneca in a research note on Thursday, May 30th. They issued a “buy” rating and a $97.00 target price for the company. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of AstraZeneca from a “sell” rating to a “hold” rating in a report on Tuesday, April 16th. Three investment analysts have rated the stock with a hold rating, six have assigned a buy rating and three have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Buy” and a consensus price target 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.