Ritholtz Wealth Management Lowers Stake in Astrazeneca Plc $AZN

Ritholtz Wealth Management cut its holdings in Astrazeneca Plc (NYSE:AZN) by 52.8% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 41,656 shares of the company’s stock after selling 46,599 shares during the quarter. Ritholtz Wealth Management’s holdings in Astrazeneca were worth $8,215,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Triumph Capital Management purchased a new position in shares of Astrazeneca during the third quarter worth about $25,000. MV Capital Management Inc. acquired a new position in Astrazeneca in the 4th quarter valued at about $26,000. Bangor Savings Bank raised its stake in Astrazeneca by 102.7% during the 4th quarter. Bangor Savings Bank now owns 304 shares of the company’s stock valued at $28,000 after acquiring an additional 154 shares during the last quarter. Eagle Bay Advisors LLC acquired a new stake in Astrazeneca during the 4th quarter worth approximately $30,000. Finally, YANKCOM Partnership acquired a new stake in Astrazeneca during the 4th quarter worth approximately $31,000. 20.35% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

AZN has been the topic of a number of recent research reports. UBS Group reissued a “buy” rating on shares of Astrazeneca in a report on Friday, April 10th. Morgan Stanley reaffirmed an “overweight” rating on shares of Astrazeneca in a report on Wednesday, April 8th. TD Cowen reiterated a “buy” rating on shares of Astrazeneca in a research report on Wednesday, March 18th. Jefferies Financial Group reissued a “buy” rating on shares of Astrazeneca in a research note on Tuesday, June 9th. Finally, Wall Street Zen upgraded shares of Astrazeneca from a “hold” rating to a “buy” rating in a research report on Saturday, May 2nd. Twelve analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $205.33.

Astrazeneca Price Performance

Shares of AZN opened at $182.98 on Thursday. The company has a current ratio of 0.91, a quick ratio of 0.71 and a debt-to-equity ratio of 0.52. The stock’s 50 day moving average is $185.21 and its two-hundred day moving average is $186.69. Astrazeneca Plc has a twelve month low of $137.23 and a twelve month high of $212.71. The firm has a market capitalization of $283.78 billion, a PE ratio of 27.47, a P/E/G ratio of 1.57 and a beta of 0.25.

Astrazeneca (NYSE:AZN) last issued its earnings results on Wednesday, April 29th. The company reported $2.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.52 by $0.06. The business had revenue of $15.29 billion during the quarter, compared to the consensus estimate of $14.93 billion. Astrazeneca had a return on equity of 30.86% and a net margin of 17.19%. Research analysts anticipate that Astrazeneca Plc will post 9.39 earnings per share for the current year.

Astrazeneca Profile

AstraZeneca plc is a global 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 positions itself as R&D-driven, investing in discovery science, clinical development and regulatory processes to bring new therapies to market.

The company’s commercial portfolio and late-stage pipeline emphasize oncology, cardiovascular, renal and metabolic (CVRM) diseases, and respiratory and immunology.