Astrazeneca Plc $AZN Stock Acquired by Gradient Investments LLC

Key Points

• Gradient Investments increased its AstraZeneca stake by 26.1% in the third quarter, adding 28,262 shares and bringing its holdings to 136,395 shares valued at approximately $22.0 million.
• Several other institutional investors also raised their positions, with institutional and hedge-fund ownership representing 20.35% of AstraZeneca’s stock.
• AstraZeneca shares recently traded at $158.06, near their one-year low, while analysts maintain a “Moderate Buy” consensus rating with an average price target of $206.67.

Gradient Investments LLC grew its holdings in Astrazeneca Plc (NYSE:AZN - Free Report) by 26.1% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 136,395 shares of the company's stock after buying an additional 28,262 shares during the quarter. Gradient Investments LLC's holdings in Astrazeneca were worth $22,025,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Avidian Wealth Enterprises LLC grew its stake in shares of Astrazeneca by 12.1% during the 3rd quarter. Avidian Wealth Enterprises LLC now owns 2,016 shares of the company's stock worth $326,000 after purchasing an additional 218 shares during the period. Valeo Financial Advisors LLC lifted its stake in shares of Astrazeneca by 10.0% in the third quarter. Valeo Financial Advisors LLC now owns 10,797 shares of the company's stock valued at $1,743,000 after purchasing an additional 980 shares during the period. Veery Capital LLC boosted its holdings in Astrazeneca by 3.9% during the third quarter. Veery Capital LLC now owns 1,857 shares of the company's stock worth $300,000 after buying an additional 70 shares in the last quarter. Venture Visionary Partners LLC grew its position in Astrazeneca by 2.2% during the third quarter. Venture Visionary Partners LLC now owns 6,490 shares of the company's stock worth $1,048,000 after buying an additional 137 shares during the period. Finally, Cooper Financial Group increased its holdings in Astrazeneca by 5.5% in the third quarter. Cooper Financial Group now owns 6,690 shares of the company's stock valued at $1,080,000 after buying an additional 348 shares in the last quarter. Institutional investors and hedge funds own 20.35% of the company's stock.

Astrazeneca Price Performance

AZN stock traded down $2.06 on Thursday, reaching $158.06. The company had a trading volume of 1,356,831 shares, compared to its average volume of 2,790,816. The company's fifty day moving average is $162.41 and its 200 day moving average is $177.32. The company has a market cap of $245.14 billion, a P/E ratio of 23.65, a PEG ratio of 1.34 and a beta of 0.27. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.67 and a current ratio of 0.89. Astrazeneca Plc has a 1 year low of $153.41 and a 1 year high of $212.71.

Astrazeneca (NYSE:AZN - Get Free Report) last released its quarterly earnings results on Monday, July 27th. The company reported $2.63 earnings per share for the quarter, topping analysts' consensus estimates of $2.50 by $0.13. Astrazeneca had a return on equity of 31.45% and a net margin of 17.02%.The company had revenue of $15.38 billion during the quarter, compared to analysts' expectations of $15.44 billion. During the same period in the previous year, the firm posted $2.17 earnings per share. The business's revenue for the quarter was up 6.4% compared to the same quarter last year. On average, research analysts forecast that Astrazeneca Plc will post 9.36 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on AZN shares. Zacks Research downgraded shares of Astrazeneca from a "hold" rating to a "strong sell" rating in a research report on Monday, September 14th. Bank of America reaffirmed a "buy" rating on shares of Astrazeneca in a research note on Wednesday, July 1st. CICC Research started coverage on Astrazeneca in a report on Sunday, August 23rd. They set an "outperform" rating and a $198.00 price objective for the company. JPMorgan Chase & Co. reiterated a "buy" rating on shares of Astrazeneca in a research report on Tuesday, June 30th. Finally, HSBC lowered Astrazeneca from a "buy" rating to a "hold" rating in a report on Monday, July 13th. Fourteen equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Astrazeneca currently has an average rating of "Moderate Buy" and an average target price of $206.67.

About Astrazeneca

AstraZeneca PLC is a global biopharmaceutical company headquartered in Cambridge, United Kingdom. Its research, development and commercial operations focus on prescription medicines for serious and chronic diseases, with an emphasis on discovering and delivering innovative therapies rather than operating as a diversified healthcare conglomerate.

The company's principal therapeutic areas include oncology; cardiovascular, renal and metabolic diseases; respiratory and immunological conditions; and rare diseases.

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