Pinnacle Wealth Management Advisory Group LLC Invests $534,000 in Astrazeneca Plc $AZN

Pinnacle Wealth Management Advisory Group LLC bought a new stake in Astrazeneca Plc (NYSE:AZN) during the first quarter, HoldingsChannel.com reports. The fund bought 2,707 shares of the company’s stock, valued at approximately $534,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Triumph Capital Management acquired a new stake in Astrazeneca in the 3rd quarter valued at $25,000. MV Capital Management Inc. acquired a new position in shares of Astrazeneca during the fourth quarter worth about $26,000. Bangor Savings Bank lifted its stake in shares of Astrazeneca by 102.7% during the fourth quarter. Bangor Savings Bank now owns 304 shares of the company’s stock worth $28,000 after purchasing an additional 154 shares in the last quarter. Eagle Bay Advisors LLC purchased a new stake in shares of Astrazeneca in the fourth quarter worth about $30,000. Finally, YANKCOM Partnership purchased a new stake in shares of Astrazeneca in the fourth quarter worth about $31,000. Institutional investors and hedge funds own 20.35% of the company’s stock.

Analyst Ratings Changes

A number of research firms have weighed in on AZN. UBS Group restated a “buy” rating on shares of Astrazeneca in a report on Friday, April 10th. Morgan Stanley reissued an “overweight” rating on shares of Astrazeneca in a research report on Wednesday, April 8th. Wall Street Zen raised shares of Astrazeneca from a “hold” rating to a “buy” rating in a report on Saturday, May 2nd. Barclays reaffirmed a “buy” rating on shares of Astrazeneca in a research note on Monday, June 1st. Finally, Sanford C. Bernstein reiterated a “buy” rating on shares of Astrazeneca in a report on Monday, May 4th. Twelve analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $205.33.

Astrazeneca Stock Performance

Shares of AZN opened at $188.58 on Monday. The firm has a market cap of $292.47 billion, a price-to-earnings ratio of 28.32, a PEG ratio of 1.64 and a beta of 0.25. The company has a quick ratio of 0.71, a current ratio of 0.91 and a debt-to-equity ratio of 0.52. The business’s 50 day moving average is $184.66 and its two-hundred day moving average is $187.16. Astrazeneca Plc has a 52-week low of $137.23 and a 52-week high of $212.71.

Astrazeneca (NYSE:AZN) last issued its quarterly 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 analyst estimates of $14.93 billion. Astrazeneca had a net margin of 17.19% and a return on equity of 30.86%. Analysts forecast that Astrazeneca Plc will post 9.39 EPS for the current fiscal year.

About Astrazeneca

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.