Naviter Wealth LLC Has $4.28 Million Stock Holdings in AstraZeneca PLC (NASDAQ:AZN)

Naviter Wealth LLC lifted its position in shares of AstraZeneca PLC (NASDAQ:AZN) by 33.5% during the 1st quarter, Holdings Channel reports. The firm owned 63,162 shares of the company’s stock after purchasing an additional 15,834 shares during the quarter. Naviter Wealth LLC’s holdings in AstraZeneca were worth $4,279,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently modified their holdings of the company. Anchor Investment Management LLC acquired a new stake in shares of AstraZeneca during the 4th quarter worth approximately $26,000. Compagnie Lombard Odier SCmA acquired a new stake in shares of AstraZeneca during the fourth quarter worth $27,000. Able Wealth Management LLC acquired a new stake in shares of AstraZeneca during the fourth quarter worth $27,000. Pin Oak Investment Advisors Inc. grew its holdings in AstraZeneca by 468.4% in the fourth quarter. Pin Oak Investment Advisors Inc. now owns 449 shares of the company’s stock worth $30,000 after purchasing an additional 370 shares during the period. Finally, Northwest Financial Advisors acquired a new stake in AstraZeneca in the fourth quarter worth $34,000. 20.35% of the stock is currently owned by institutional investors and hedge funds.

AstraZeneca Price Performance

AZN traded down $0.95 during trading on Tuesday, reaching $76.99. 3,215,465 shares of the company traded hands, compared to its average volume of 5,548,286. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.70 and a current ratio of 0.89. AstraZeneca PLC has a 12-month low of $60.47 and a 12-month high of $80.86. The firm has a fifty day simple moving average of $77.80 and a 200 day simple moving average of $70.59. The company has a market cap of $238.71 billion, a P/E ratio of 37.74, a PEG ratio of 1.40 and a beta of 0.45.

AstraZeneca (NASDAQ:AZN) last announced its quarterly earnings data on Thursday, April 25th. The company reported $1.03 earnings per share (EPS) 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 business had revenue of $12.68 billion during the quarter, compared to analyst estimates of $11.92 billion. On average, equities analysts forecast that AstraZeneca PLC will post 4.04 EPS for the current year.

Analyst Upgrades and Downgrades

AZN has been the subject of a number of analyst reports. Citigroup upgraded shares of AstraZeneca to a “strong-buy” rating in a report on Monday, June 24th. BMO Capital Markets boosted their price objective on shares of AstraZeneca from $80.00 to $82.00 and gave the company an “outperform” rating in a research note on Friday, April 26th. Barclays raised shares of AstraZeneca to a “strong-buy” rating in a research note on Monday, June 24th. Deutsche Bank Aktiengesellschaft raised shares of AstraZeneca from a “sell” rating to a “hold” rating in a research note on Tuesday, April 16th. Finally, The Goldman Sachs Group began coverage on shares of AstraZeneca in a research note on Thursday, May 30th. They issued a “buy” rating and a $97.00 price target for the company. Three analysts have rated the stock with a hold rating, six have issued a buy rating and three have given a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $88.00.

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.