Smartleaf Asset Management LLC Increases Stake in AstraZeneca PLC $AZN

Smartleaf Asset Management LLC grew its holdings in AstraZeneca PLC (NASDAQ:AZN) by 60.9% in the 3rd quarter, HoldingsChannel reports. The firm owned 24,748 shares of the company’s stock after buying an additional 9,366 shares during the quarter. Smartleaf Asset Management LLC’s holdings in AstraZeneca were worth $1,835,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. NewSquare Capital LLC lifted its holdings in AstraZeneca by 149.3% during the second quarter. NewSquare Capital LLC now owns 364 shares of the company’s stock worth $25,000 after buying an additional 218 shares during the period. Richardson Financial Services Inc. grew its stake 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 purchasing an additional 149 shares during the last quarter. Rakuten Investment Management Inc. bought a new position in AstraZeneca in the third quarter worth about $31,000. E Fund Management Hong Kong Co. Ltd. lifted its position in shares of AstraZeneca by 144.0% during the third quarter. E Fund Management Hong Kong Co. Ltd. now owns 466 shares of the company’s stock valued at $36,000 after buying an additional 275 shares during the last quarter. Finally, VSM Wealth Advisory LLC bought a new stake in shares of AstraZeneca in the 2nd quarter valued at about $33,000. Hedge funds and other institutional investors own 20.35% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. Morgan Stanley restated an “overweight” rating and set a $103.00 target price on shares of AstraZeneca in a research note on Wednesday, December 3rd. Deutsche Bank Aktiengesellschaft restated a “sell” rating on shares of AstraZeneca in a report on Friday. Jefferies Financial Group initiated coverage on shares of AstraZeneca in a research note on Monday, October 27th. They issued a “buy” rating for the company. Weiss Ratings restated a “buy (b)” rating on shares of AstraZeneca in a research note on Wednesday, January 21st. Finally, Wall Street Zen cut shares of AstraZeneca from a “strong-buy” rating to a “buy” rating in a report on Saturday, January 17th. Ten investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $95.75.

AstraZeneca Stock Performance

AZN opened at $193.40 on Monday. The company has a quick ratio of 0.69, a current ratio of 0.88 and a debt-to-equity ratio of 0.54. The firm’s fifty day simple moving average is $101.84 and its two-hundred day simple moving average is $88.64. AstraZeneca PLC has a 52-week low of $122.48 and a 52-week high of $193.97. The company has a market cap of $299.94 billion, a price-to-earnings ratio of 64.25, a PEG ratio of 1.59 and a beta of 0.34.

AstraZeneca (NASDAQ:AZN) last posted its quarterly earnings results on Thursday, November 6th. The company reported $1.19 EPS for the quarter, topping the consensus estimate of $1.14 by $0.05. AstraZeneca had a return on equity of 32.89% and a net margin of 16.17%.The business had revenue of $15.19 billion for the quarter, compared to analyst estimates of $14.75 billion. During the same quarter in the previous year, the firm earned $2.08 EPS. The company’s quarterly revenue was up 12.0% compared to the same quarter last year. Equities analysts anticipate that AstraZeneca PLC will post 4.51 earnings per share for the current fiscal year.

AstraZeneca Profile

AstraZeneca is a global, science-led 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’s operations span research and development, large-scale manufacturing, and commercial distribution, with a presence in developed and emerging markets worldwide.

The company focuses on several core therapy areas including oncology, cardiovascular, renal and metabolism (CVRM), respiratory and immunology, and rare diseases.