Redmont Wealth Advisors LLC Takes $47,000 Position in AstraZeneca PLC (NASDAQ:AZN)

Redmont Wealth Advisors LLC purchased a new stake in shares of AstraZeneca PLC (NASDAQ:AZN) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 698 shares of the company’s stock, valued at approximately $47,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. PEAK6 Investments LLC bought a new position in AstraZeneca in the third quarter worth approximately $474,000. Toronto Dominion Bank raised its stake in AstraZeneca by 100.6% in the third quarter. Toronto Dominion Bank now owns 8,361 shares of the company’s stock worth $566,000 after buying an additional 4,193 shares in the last quarter. Lazard Asset Management LLC raised its stake in AstraZeneca by 78.3% in the third quarter. Lazard Asset Management LLC now owns 283,559 shares of the company’s stock worth $19,201,000 after buying an additional 124,513 shares in the last quarter. Advisors Asset Management Inc. raised its stake in AstraZeneca by 7.3% in the third quarter. Advisors Asset Management Inc. now owns 54,699 shares of the company’s stock worth $3,704,000 after buying an additional 3,741 shares in the last quarter. Finally, Axxcess Wealth Management LLC raised its stake in AstraZeneca by 184.6% in the third quarter. Axxcess Wealth Management LLC now owns 18,684 shares of the company’s stock worth $1,265,000 after buying an additional 12,118 shares in the last quarter. Institutional investors own 20.35% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on the stock. Citigroup raised shares of AstraZeneca to a “strong-buy” rating in a research note on Monday, June 24th. Barclays raised AstraZeneca to a “strong-buy” rating in a research report on Monday, June 24th. The Goldman Sachs Group started coverage on AstraZeneca in a research report on Thursday, May 30th. They set a “buy” rating and a $97.00 price target on the stock. BMO Capital Markets upped their price target on AstraZeneca from $80.00 to $82.00 and gave the stock an “outperform” rating in a research report on Friday, April 26th. Finally, Argus upped their price target on AstraZeneca from $80.00 to $85.00 and gave the stock a “buy” rating in a research report on Thursday, May 30th. Three investment analysts have rated the stock with a hold rating, six have assigned a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $88.00.

AstraZeneca Stock Performance

AZN stock traded down $0.19 during midday trading on Wednesday, reaching $76.80. The stock had a trading volume of 2,377,499 shares, compared to its average volume of 5,524,869. The stock has a market cap of $238.12 billion, a PE ratio of 37.74, a P/E/G ratio of 1.40 and a beta of 0.45. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.70 and a current ratio of 0.89. The firm has a fifty day simple moving average of $77.80 and a two-hundred day simple moving average of $70.59. AstraZeneca PLC has a 52-week low of $60.47 and a 52-week high of $80.86.

AstraZeneca (NASDAQ:AZN) last issued its earnings results on Thursday, April 25th. The company reported $1.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.95 by $0.08. The company had revenue of $12.68 billion during the quarter, compared to analyst estimates of $11.92 billion. AstraZeneca had a return on equity of 30.42% and a net margin of 13.30%. As a group, equities research analysts anticipate that AstraZeneca PLC will post 4.04 EPS for the current year.

AstraZeneca 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.