Clark Capital Management Group Inc. Raises Holdings in AstraZeneca PLC (NASDAQ:AZN)

Clark Capital Management Group Inc. raised its holdings in shares of AstraZeneca PLC (NASDAQ:AZN - Free Report) by 89.2% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 10,047 shares of the company's stock after purchasing an additional 4,738 shares during the period. Clark Capital Management Group Inc.'s holdings in AstraZeneca were worth $658,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. Banque Transatlantique SA purchased a new stake in shares of AstraZeneca during the fourth quarter valued at about $26,000. Albion Financial Group UT lifted its position in AstraZeneca by 68.9% during the fourth quarter. Albion Financial Group UT now owns 608 shares of the company's stock valued at $40,000 after acquiring an additional 248 shares during the last quarter. CoreCap Advisors LLC lifted its position in AstraZeneca by 31.8% during the fourth quarter. CoreCap Advisors LLC now owns 642 shares of the company's stock valued at $42,000 after acquiring an additional 155 shares during the last quarter. Crews Bank & Trust acquired a new stake in AstraZeneca in the fourth quarter valued at approximately $55,000. Finally, Golden State Wealth Management LLC purchased a new position in AstraZeneca in the fourth quarter worth $55,000. Institutional investors own 20.35% of the company's stock.

Analyst Ratings Changes

AZN has been the subject of a number of recent analyst reports. Morgan Stanley began coverage on AstraZeneca in a research report on Wednesday, February 12th. They issued an "overweight" rating for the company. UBS Group raised AstraZeneca from a "neutral" rating to a "buy" rating in a report on Thursday, February 13th. Finally, BNP Paribas assumed coverage on shares of AstraZeneca in a report on Tuesday, April 15th. They set an "outperform" rating and a $75.00 price objective on the stock. One analyst has rated the stock with a hold rating, seven have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Buy" and an average target price of $88.00.

AstraZeneca Stock Performance

AstraZeneca stock traded down $1.23 during trading hours on Tuesday, hitting $67.72. 4,827,720 shares of the stock traded hands, compared to its average volume of 5,158,386. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.93 and a quick ratio of 0.74. AstraZeneca PLC has a 1 year low of $61.24 and a 1 year high of $87.68. The stock has a market capitalization of $210.02 billion, a price-to-earnings ratio of 29.96, a P/E/G ratio of 1.42 and a beta of 0.40. The firm's 50 day moving average price is $71.15 and its 200-day moving average price is $69.61.

AstraZeneca (NASDAQ:AZN - Get Free Report) last posted its quarterly earnings results on Tuesday, April 29th. The company reported $1.24 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.10 by $0.14. The company had revenue of $13.59 billion during the quarter, compared to analyst estimates of $13.71 billion. AstraZeneca had a net margin of 13.01% and a return on equity of 32.23%. AstraZeneca's revenue for the quarter was up 7.2% compared to the same quarter last year. During the same period last year, the firm posted $2.06 EPS. As a group, equities analysts expect that AstraZeneca PLC will post 4.51 EPS for the current fiscal 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.