Astrazeneca Plc $AZN Shares Sold by 44 Wealth Management LLC

44 Wealth Management LLC reduced its stake in shares of Astrazeneca Plc (NYSE:AZN) by 50.5% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 6,536 shares of the company’s stock after selling 6,671 shares during the period. 44 Wealth Management LLC’s holdings in Astrazeneca were worth $1,289,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Mascoma Wealth Management LLC acquired a new stake in Astrazeneca in the first quarter valued at $26,000. MV Capital Management Inc. acquired a new position in shares of Astrazeneca during the 4th quarter worth $26,000. Reflection Asset Management acquired a new position in shares of Astrazeneca during the 4th quarter worth $31,000. Raleigh Capital Management Inc. purchased a new stake in shares of Astrazeneca in the 1st quarter worth about $38,000. Finally, Avion Wealth boosted its position in shares of Astrazeneca by 166.2% in the 1st quarter. Avion Wealth now owns 197 shares of the company’s stock worth $38,000 after buying an additional 123 shares in the last quarter. 20.35% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have weighed in on AZN. JPMorgan Chase & Co. restated a “buy” rating on shares of Astrazeneca in a report on Tuesday, June 30th. Bank of America reaffirmed a “buy” rating on shares of Astrazeneca in a report on Wednesday, July 1st. The Goldman Sachs Group reiterated a “buy” rating on shares of Astrazeneca in a research report on Wednesday, July 1st. Morgan Stanley restated an “overweight” rating on shares of Astrazeneca in a research report on Wednesday, April 8th. Finally, HSBC lowered Astrazeneca from a “buy” rating to a “hold” rating in a research note on Monday, July 13th. Thirteen research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $211.00.

Astrazeneca Stock Performance

Shares of AZN opened at $168.68 on Friday. Astrazeneca Plc has a 1 year low of $142.98 and a 1 year high of $212.71. The company’s 50 day simple moving average is $180.55 and its 200 day simple moving average is $188.02. The company has a market capitalization of $261.61 billion, a price-to-earnings ratio of 25.33, a PEG ratio of 1.38 and a beta of 0.24. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.71 and a current ratio of 0.91.

Astrazeneca (NYSE:AZN) last released its earnings results on Wednesday, April 29th. The company reported $2.58 EPS for the quarter, topping the consensus estimate of $2.52 by $0.06. Astrazeneca had a net margin of 17.19% and a return on equity of 30.86%. The firm had revenue of $15.29 billion during the quarter, compared to analysts’ expectations of $14.93 billion. On average, sell-side analysts predict that Astrazeneca Plc will post 10.22 EPS for the current year.

Astrazeneca Company 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.