Brookstone Capital Management Invests $315,000 in AstraZeneca PLC (NASDAQ:AZN)

Brookstone Capital Management acquired a new position in shares of AstraZeneca PLC (NASDAQ:AZN) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 4,643 shares of the company’s stock, valued at approximately $315,000.

Other hedge funds have also added to or reduced their stakes in the company. Anchor Investment Management LLC bought a new position in AstraZeneca in the fourth quarter valued at $26,000. Compagnie Lombard Odier SCmA acquired a new stake in AstraZeneca in the fourth quarter valued at $27,000. Able Wealth Management LLC acquired a new stake in AstraZeneca in the fourth quarter valued at $27,000. Pin Oak Investment Advisors Inc. lifted its stake in AstraZeneca by 468.4% in the fourth quarter. Pin Oak Investment Advisors Inc. now owns 449 shares of the company’s stock valued at $30,000 after acquiring an additional 370 shares during the last quarter. Finally, Northwest Financial Advisors acquired a new stake in AstraZeneca in the fourth quarter valued at $34,000. Institutional investors own 20.35% of the company’s stock.

AstraZeneca Price Performance

NASDAQ:AZN opened at $76.99 on Wednesday. AstraZeneca PLC has a 52 week low of $60.47 and a 52 week high of $80.86. The firm has a market cap of $238.71 billion, a price-to-earnings ratio of 37.74, a P/E/G ratio of 1.40 and a beta of 0.45. The firm’s 50-day simple moving average is $77.80 and its 200 day simple moving average is $70.59. 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 EPS for the quarter, topping analysts’ consensus estimates of $0.95 by $0.08. AstraZeneca had a net margin of 13.30% and a return on equity of 30.42%. The business had revenue of $12.68 billion for the quarter, compared to analyst estimates of $11.92 billion. As a group, sell-side analysts predict that AstraZeneca PLC will post 4.04 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts have commented on the stock. BMO Capital Markets increased their price target on shares of AstraZeneca from $80.00 to $82.00 and gave the company an “outperform” rating in a research note on Friday, April 26th. Argus increased their price target on shares of AstraZeneca from $80.00 to $85.00 and gave the company a “buy” rating in a research note on Thursday, May 30th. 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 price target for the company. Citigroup upgraded shares of AstraZeneca to a “strong-buy” rating in a research note on Monday, June 24th. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of AstraZeneca from a “sell” rating to a “hold” rating in a research note on Tuesday, April 16th. Three analysts have rated the stock with a hold rating, six have given a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $88.00.

About AstraZeneca

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.