26,048 Shares in AstraZeneca PLC (NASDAQ:AZN) Acquired by Parr Mcknight Wealth Management Group LLC

Parr Mcknight Wealth Management Group LLC bought a new stake in shares of AstraZeneca PLC (NASDAQ:AZN) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 26,048 shares of the company’s stock, valued at approximately $1,707,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Diversify Wealth Management LLC boosted its holdings in shares of AstraZeneca by 3.6% in the fourth quarter. Diversify Wealth Management LLC now owns 4,402 shares of the company’s stock worth $295,000 after buying an additional 153 shares during the last quarter. Ameritas Advisory Services LLC raised its position in AstraZeneca by 25.9% in the fourth quarter. Ameritas Advisory Services LLC now owns 9,487 shares of the company’s stock worth $622,000 after acquiring an additional 1,949 shares during the period. Asio Capital LLC boosted its stake in shares of AstraZeneca by 11.6% during the 4th quarter. Asio Capital LLC now owns 53,541 shares of the company’s stock worth $3,508,000 after acquiring an additional 5,569 shares during the last quarter. Portfolio Design Labs LLC purchased a new position in shares of AstraZeneca during the 4th quarter worth $221,000. Finally, Strategic Financial Concepts LLC bought a new stake in shares of AstraZeneca during the 4th quarter valued at $1,679,000. 20.35% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the company. Morgan Stanley assumed coverage on AstraZeneca in a research report on Wednesday, February 12th. They set an “overweight” rating on the stock. BNP Paribas started coverage on AstraZeneca in a research report on Tuesday, April 15th. They set an “outperform” rating and a $75.00 price objective on the stock. Finally, UBS Group upgraded AstraZeneca from a “neutral” rating to a “buy” rating in a research note on Thursday, February 13th. One investment analyst has rated the stock with a hold rating, seven have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, AstraZeneca presently has a consensus rating of “Buy” and an average target price of $88.00.

AstraZeneca Price Performance

AZN stock opened at $69.95 on Friday. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.74 and a current ratio of 0.93. The company’s fifty day moving average price is $69.91 and its 200-day moving average price is $69.42. AstraZeneca PLC has a one year low of $61.24 and a one year high of $87.68. The company has a market capitalization of $216.93 billion, a PE ratio of 30.95, a price-to-earnings-growth ratio of 1.42 and a beta of 0.40.

AstraZeneca (NASDAQ:AZN) last issued its quarterly earnings data on Tuesday, April 29th. The company reported $1.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.10 by $0.14. AstraZeneca had a return on equity of 32.23% and a net margin of 13.01%. The business had revenue of $13.59 billion for the quarter, compared to analysts’ expectations of $13.71 billion. During the same period in the prior year, the firm earned $2.06 EPS. The company’s revenue for the quarter was up 7.2% on a year-over-year basis. On average, equities analysts anticipate that AstraZeneca PLC will post 4.51 EPS for the current fiscal year.

About AstraZeneca

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.