Frank Rimerman Advisors LLC Buys 10,826 Shares of AstraZeneca PLC $AZN

Frank Rimerman Advisors LLC raised its stake in AstraZeneca PLC (NASDAQ:AZN) by 109.9% during the second quarter, HoldingsChannel.com reports. The fund owned 20,680 shares of the company’s stock after acquiring an additional 10,826 shares during the quarter. Frank Rimerman Advisors LLC’s holdings in AstraZeneca were worth $1,445,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Pekin Hardy Strauss Inc. grew its holdings in shares of AstraZeneca by 4.2% in the 2nd quarter. Pekin Hardy Strauss Inc. now owns 3,650 shares of the company’s stock worth $255,000 after purchasing an additional 148 shares during the last quarter. Richardson Financial Services Inc. boosted its position in AstraZeneca by 59.8% in the second quarter. Richardson Financial Services Inc. now owns 398 shares of the company’s stock valued at $28,000 after buying an additional 149 shares in the last quarter. Evergreen Capital Management LLC boosted its position in AstraZeneca by 0.7% in the first quarter. Evergreen Capital Management LLC now owns 23,709 shares of the company’s stock valued at $1,743,000 after buying an additional 155 shares in the last quarter. Grimes & Company Inc. grew its stake in AstraZeneca by 3.0% during the second quarter. Grimes & Company Inc. now owns 5,290 shares of the company’s stock worth $370,000 after buying an additional 155 shares during the last quarter. Finally, Eagle Global Advisors LLC increased its holdings in shares of AstraZeneca by 0.3% during the second quarter. Eagle Global Advisors LLC now owns 53,536 shares of the company’s stock worth $3,741,000 after buying an additional 160 shares in the last quarter. 20.35% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have recently commented on AZN shares. Weiss Ratings reissued a “buy (b)” rating on shares of AstraZeneca in a report on Wednesday, October 8th. Deutsche Bank Aktiengesellschaft downgraded AstraZeneca from a “hold” rating to a “sell” rating in a research report on Thursday, October 16th. Finally, Jefferies Financial Group assumed coverage on AstraZeneca in a research note on Monday, October 27th. They issued a “buy” rating on the stock. Five research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, AstraZeneca presently has an average rating of “Moderate Buy” and an average target price of $86.00.

AstraZeneca Price Performance

Shares of AZN stock opened at $89.55 on Wednesday. AstraZeneca PLC has a 1 year low of $61.24 and a 1 year high of $90.27. The company has a current ratio of 0.86, a quick ratio of 0.67 and a debt-to-equity ratio of 0.55. The firm’s 50 day moving average is $82.45 and its 200-day moving average is $76.49. The firm has a market capitalization of $277.73 billion, a price-to-earnings ratio of 33.67, a PEG ratio of 1.52 and a beta of 0.34.

AstraZeneca (NASDAQ:AZN) last posted its quarterly earnings data on Thursday, November 6th. The company reported $1.19 earnings per share for the quarter, topping the consensus estimate of $1.14 by $0.05. AstraZeneca had a net margin of 14.68% and a return on equity of 32.84%. The firm had revenue of $15.19 billion during the quarter, compared to analysts’ expectations of $14.75 billion. During the same quarter in the previous year, the company posted $2.08 EPS. AstraZeneca’s revenue was up 12.0% on a year-over-year basis. Sell-side analysts forecast that AstraZeneca PLC will post 4.51 EPS for the current fiscal year.

AstraZeneca Company Profile

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.