Cullinan Associates Inc. Acquires 1,498 Shares of AstraZeneca PLC (NASDAQ:AZN)

Cullinan Associates Inc. lifted its holdings in shares of AstraZeneca PLC (NASDAQ:AZN) by 13.0% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 13,026 shares of the company’s stock after purchasing an additional 1,498 shares during the period. Cullinan Associates Inc.’s holdings in AstraZeneca were worth $883,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of the business. Allspring Global Investments Holdings LLC raised its holdings in AstraZeneca by 172.9% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 10,496 shares of the company’s stock worth $711,000 after purchasing an additional 6,650 shares during the last quarter. Hexagon Capital Partners LLC raised its stake in AstraZeneca by 9.9% during the first quarter. Hexagon Capital Partners LLC now owns 3,244 shares of the company’s stock worth $220,000 after buying an additional 293 shares during the last quarter. Miracle Mile Advisors LLC raised its stake in AstraZeneca by 8.1% during the first quarter. Miracle Mile Advisors LLC now owns 7,614 shares of the company’s stock worth $516,000 after buying an additional 572 shares during the last quarter. BKM Wealth Management LLC lifted its holdings in AstraZeneca by 71.9% in the first quarter. BKM Wealth Management LLC now owns 6,212 shares of the company’s stock valued at $421,000 after buying an additional 2,599 shares during the period. Finally, Diversified Trust Co grew its holdings in AstraZeneca by 5.8% during the 1st quarter. Diversified Trust Co now owns 4,343 shares of the company’s stock worth $294,000 after acquiring an additional 238 shares during the period. Institutional investors own 20.35% of the company’s stock.

AstraZeneca Trading Down 1.2 %

AZN opened at $76.99 on Wednesday. The firm has a market capitalization of $238.71 billion, a PE ratio of 37.74, a P/E/G ratio of 1.40 and a beta of 0.45. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.89 and a quick ratio of 0.70. AstraZeneca PLC has a fifty-two week low of $60.47 and a fifty-two week high of $80.86. The company’s 50-day moving average is $77.80 and its 200 day moving average is $70.59.

AstraZeneca (NASDAQ:AZN) last announced its earnings results on Thursday, April 25th. The company reported $1.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.95 by $0.08. The company had revenue of $12.68 billion for the quarter, compared to analysts’ expectations of $11.92 billion. AstraZeneca had a return on equity of 30.42% and a net margin of 13.30%. As a group, research analysts predict that AstraZeneca PLC will post 4.04 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have recently issued reports on AZN shares. BMO Capital Markets boosted their price objective on AstraZeneca from $80.00 to $82.00 and gave the company an “outperform” rating in a research note on Friday, April 26th. Citigroup raised shares of AstraZeneca to a “strong-buy” rating in a research report on Monday, June 24th. Barclays upgraded 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 report on Thursday, May 30th. They issued a “buy” rating and a $97.00 price target for the company. Finally, Argus upped their price objective on shares of AstraZeneca from $80.00 to $85.00 and gave the company a “buy” rating in a report on Thursday, May 30th. Three equities research analysts have rated the stock with a hold rating, six have given a buy rating and three have assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price 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.