Parnassus Investments LLC Buys 6,025 Shares of AstraZeneca PLC $AZN

Parnassus Investments LLC boosted its holdings in shares of AstraZeneca PLC (NASDAQ:AZN) by 0.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,293,004 shares of the company’s stock after buying an additional 6,025 shares during the quarter. Parnassus Investments LLC’s holdings in AstraZeneca were worth $99,199,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. NewSquare Capital LLC boosted its stake in shares of AstraZeneca by 149.3% during the second quarter. NewSquare Capital LLC now owns 364 shares of the company’s stock valued at $25,000 after purchasing an additional 218 shares in the last quarter. Richardson Financial Services Inc. raised its holdings in AstraZeneca by 59.8% during the second quarter. Richardson Financial Services Inc. now owns 398 shares of the company’s stock worth $28,000 after buying an additional 149 shares during the last quarter. FSA Wealth Management LLC raised its holdings in shares of AstraZeneca by 376.0% in the 2nd quarter. FSA Wealth Management LLC now owns 476 shares of the company’s stock worth $33,000 after acquiring an additional 376 shares during the last quarter. VSM Wealth Advisory LLC bought a new stake in AstraZeneca in the 2nd quarter worth about $33,000. Finally, Maseco LLP purchased a new position in AstraZeneca in the second quarter worth $34,000. 20.35% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on AZN shares. Barclays reissued an “overweight” rating on shares of AstraZeneca in a research report on Tuesday. Weiss Ratings reissued a “buy (b)” rating on shares of AstraZeneca in a report on Wednesday, October 8th. Cowen reiterated a “buy” rating on shares of AstraZeneca in a research report on Tuesday, December 9th. Guggenheim restated a “buy” rating on shares of AstraZeneca in a research report on Wednesday, December 3rd. Finally, HSBC reissued a “buy” rating and issued a $108.00 target price on shares of AstraZeneca in a research note on Wednesday, December 10th. Nine analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $95.75.

AstraZeneca Trading Up 0.7%

Shares of AZN stock opened at $94.65 on Friday. The stock has a market capitalization of $293.55 billion, a P/E ratio of 31.45, a P/E/G ratio of 1.56 and a beta of 0.34. The company has a current ratio of 0.88, a quick ratio of 0.69 and a debt-to-equity ratio of 0.54. The firm’s 50 day moving average is $90.33 and its 200 day moving average is $81.90. AstraZeneca PLC has a 12-month low of $61.24 and a 12-month high of $96.51.

AstraZeneca (NASDAQ:AZN) last released its earnings results on Thursday, November 6th. The company reported $1.19 EPS for the quarter, topping the consensus estimate of $1.14 by $0.05. AstraZeneca had a net margin of 16.17% and a return on equity of 32.89%. The firm had revenue of $15.19 billion for the quarter, compared to the consensus estimate of $14.75 billion. During the same quarter in the previous year, the firm earned $2.08 earnings per share. The company’s quarterly revenue was up 12.0% compared to the same quarter last year. Research analysts expect that AstraZeneca PLC will post 4.51 earnings per share for the current year.

About AstraZeneca

AstraZeneca is a global, science-led biopharmaceutical company headquartered in Cambridge, England. Formed through the 1999 merger of Sweden’s Astra AB and the UK’s Zeneca Group, the company researches, develops, manufactures and commercializes prescription medicines across a range of therapeutic areas. AstraZeneca’s operations span research and development, large-scale manufacturing, and commercial distribution, with a presence in developed and emerging markets worldwide.

The company focuses on several core therapy areas including oncology, cardiovascular, renal and metabolism (CVRM), respiratory and immunology, and rare diseases.