Parr Mcknight Wealth Management Group LLC Takes Position in AstraZeneca PLC (NASDAQ:AZN)

Parr Mcknight Wealth Management Group LLC purchased a new position in AstraZeneca PLC (NASDAQ:AZN - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 26,048 shares of the company's stock, valued at approximately $1,707,000.

Several other institutional investors have also bought and sold shares of AZN. Merit Financial Group LLC increased its stake in shares of AstraZeneca by 87.2% in the fourth quarter. Merit Financial Group LLC now owns 8,840 shares of the company's stock worth $579,000 after purchasing an additional 4,117 shares in the last quarter. Ameritas Advisory Services LLC boosted its holdings in AstraZeneca by 25.9% in the 4th quarter. Ameritas Advisory Services LLC now owns 9,487 shares of the company's stock worth $622,000 after buying an additional 1,949 shares during the period. Diversify Wealth Management LLC grew its stake in AstraZeneca by 3.6% in the 4th quarter. Diversify Wealth Management LLC now owns 4,402 shares of the company's stock valued at $295,000 after buying an additional 153 shares in the last quarter. Harbor Investment Advisory LLC raised its holdings in AstraZeneca by 36.5% during the 4th quarter. Harbor Investment Advisory LLC now owns 2,665 shares of the company's stock valued at $175,000 after acquiring an additional 712 shares during the period. Finally, Koshinski Asset Management Inc. lifted its position in shares of AstraZeneca by 4.9% during the fourth quarter. Koshinski Asset Management Inc. now owns 6,933 shares of the company's stock worth $454,000 after acquiring an additional 322 shares in the last quarter. Hedge funds and other institutional investors own 20.35% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. BNP Paribas assumed coverage on AstraZeneca in a research report on Tuesday, April 15th. They set an "outperform" rating and a $75.00 price target on the stock. Morgan Stanley assumed coverage on shares of AstraZeneca in a report on Wednesday, February 12th. They set an "overweight" rating on the stock. Finally, UBS Group raised shares of AstraZeneca from a "neutral" rating to a "buy" rating in a report on Thursday, February 13th. One research analyst has rated the stock with a hold rating, seven have given a buy rating and two have issued 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 Stock Up 0.8%

AstraZeneca stock traded up $0.55 on Tuesday, hitting $70.96. 4,459,085 shares of the stock traded hands, compared to its average volume of 5,181,263. AstraZeneca PLC has a 1 year low of $61.24 and a 1 year high of $87.68. The firm has a market cap of $220.07 billion, a P/E ratio of 31.40, a price-to-earnings-growth ratio of 1.42 and a beta of 0.40. The business's fifty day simple moving average is $69.66 and its 200 day simple moving average is $69.56. The company has a current ratio of 0.93, a quick ratio of 0.74 and a debt-to-equity ratio of 0.65.

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 the consensus estimate of $1.10 by $0.14. AstraZeneca had a return on equity of 32.23% and a net margin of 13.01%. The firm had revenue of $13.59 billion during the quarter, compared to analyst estimates of $13.71 billion. During the same quarter in the previous year, the firm earned $2.06 EPS. AstraZeneca's quarterly revenue was up 7.2% compared to the same quarter last year. As a group, sell-side analysts forecast that AstraZeneca PLC will post 4.51 earnings per share for the current year.

About AstraZeneca

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.