HighPoint Advisor Group LLC Takes $1.35 Million Position in AstraZeneca PLC (NASDAQ:AZN)

HighPoint Advisor Group LLC bought a new stake in AstraZeneca PLC (NASDAQ:AZN) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 20,536 shares of the company’s stock, valued at approximately $1,352,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Beaird Harris Wealth Management LLC increased its position in shares of AstraZeneca by 8.9% during the fourth quarter. Beaird Harris Wealth Management LLC now owns 1,851 shares of the company’s stock valued at $125,000 after acquiring an additional 151 shares during the last quarter. Clearstead Advisors LLC lifted its position in shares of AstraZeneca by 15.5% during the 3rd quarter. Clearstead Advisors LLC now owns 1,209 shares of the company’s stock worth $82,000 after buying an additional 162 shares during the last quarter. Bryn Mawr Capital Management LLC lifted its position in shares of AstraZeneca by 0.3% during the 4th quarter. Bryn Mawr Capital Management LLC now owns 61,866 shares of the company’s stock worth $4,167,000 after buying an additional 164 shares during the last quarter. Drive Wealth Management LLC increased its holdings in shares of AstraZeneca by 4.5% in the 4th quarter. Drive Wealth Management LLC now owns 3,911 shares of the company’s stock valued at $263,000 after acquiring an additional 170 shares during the period. Finally, GM Advisory Group LLC increased its holdings in shares of AstraZeneca by 3.5% in the 4th quarter. GM Advisory Group LLC now owns 5,015 shares of the company’s stock valued at $338,000 after acquiring an additional 170 shares during the period. 20.35% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have commented on AZN shares. Deutsche Bank Aktiengesellschaft upgraded shares of AstraZeneca from a “sell” rating to a “hold” rating in a research report on Tuesday, April 16th. The Goldman Sachs Group began coverage on shares of AstraZeneca in a research report on Thursday, May 30th. They issued a “buy” rating and a $97.00 price objective on the stock. BMO Capital Markets boosted their price objective on shares of AstraZeneca from $80.00 to $82.00 and gave the stock an “outperform” rating in a research report on Friday, April 26th. Finally, Argus boosted their price objective on shares of AstraZeneca from $80.00 to $85.00 and gave the stock a “buy” rating in a research report on Thursday, May 30th. Three research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, AstraZeneca currently has an average rating of “Moderate Buy” and an average target price of $88.00.

AstraZeneca Price Performance

Shares of AZN opened at $78.42 on Wednesday. The stock’s fifty day moving average is $75.90 and its 200-day moving average is $69.60. The firm has a market capitalization of $243.14 billion, a price-to-earnings ratio of 38.44, a price-to-earnings-growth ratio of 1.42 and a beta of 0.48. AstraZeneca PLC has a one year low of $60.47 and a one year high of $80.86. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.70 and a current ratio of 0.89.

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

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.