Kovack Advisors Inc. Buys New Holdings in AstraZeneca PLC (NASDAQ:AZN)

Kovack Advisors Inc. bought a new stake in AstraZeneca PLC (NASDAQ:AZNFree Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 2,975 shares of the company’s stock, valued at approximately $202,000.

Several other hedge funds have also recently added to or reduced their stakes in AZN. Lido Advisors LLC raised its holdings in AstraZeneca by 2.2% in the third quarter. Lido Advisors LLC now owns 15,455 shares of the company’s stock valued at $1,047,000 after acquiring an additional 327 shares in the last quarter. Seven Eight Capital LP raised its holdings in AstraZeneca by 76.7% during the third quarter. Seven Eight Capital LP now owns 15,593 shares of the company’s stock worth $1,056,000 after purchasing an additional 6,768 shares in the last quarter. Dana Investment Advisors Inc. raised its holdings in AstraZeneca by 43.9% during the third quarter. Dana Investment Advisors Inc. now owns 10,907 shares of the company’s stock worth $739,000 after purchasing an additional 3,326 shares in the last quarter. iA Global Asset Management Inc. raised its holdings in AstraZeneca by 33.0% during the third quarter. iA Global Asset Management Inc. now owns 48,558 shares of the company’s stock worth $3,288,000 after purchasing an additional 12,054 shares in the last quarter. Finally, Mercer Global Advisors Inc. ADV raised its holdings in AstraZeneca by 15.1% during the third quarter. Mercer Global Advisors Inc. ADV now owns 141,016 shares of the company’s stock worth $9,550,000 after purchasing an additional 18,453 shares in the last quarter. Institutional investors and hedge funds own 20.35% of the company’s stock.

AstraZeneca Stock Performance

NASDAQ:AZN opened at $77.34 on Friday. The firm’s fifty day moving average price is $77.99 and its 200 day moving average price is $70.76. AstraZeneca PLC has a 1-year low of $60.47 and a 1-year high of $80.86. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.89 and a quick ratio of 0.70. The firm has a market cap of $239.79 billion, a price-to-earnings ratio of 37.91, a price-to-earnings-growth ratio of 1.38 and a beta of 0.45.

AstraZeneca (NASDAQ:AZNGet Free Report) last posted its quarterly earnings data on Thursday, April 25th. The company reported $1.03 earnings per share for the quarter, beating 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 firm had revenue of $12.68 billion for the quarter, compared to analyst estimates of $11.92 billion. On average, sell-side analysts expect that AstraZeneca PLC will post 4.04 EPS for the current year.

Wall Street Analysts Forecast Growth

AZN has been the topic of a number of research analyst reports. Deutsche Bank Aktiengesellschaft raised shares of AstraZeneca from a “sell” rating to a “hold” rating in a report on Tuesday, April 16th. Barclays raised shares of AstraZeneca to a “strong-buy” rating in a report on Monday, June 24th. Argus raised their price objective on shares of AstraZeneca from $80.00 to $85.00 and gave the stock a “buy” rating in a report on Thursday, May 30th. The Goldman Sachs Group initiated coverage on shares of AstraZeneca in a research report on Thursday, May 30th. They set a “buy” rating and a $97.00 target price on the stock. Finally, Citigroup upgraded shares of AstraZeneca to a “strong-buy” rating in a research report on Monday, June 24th. Three equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $88.00.

Check Out Our Latest Research Report on AstraZeneca

AstraZeneca Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for AstraZeneca (NASDAQ:AZN)

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