AstraZeneca PLC (NASDAQ:AZN) Shares Bought by Concurrent Investment Advisors LLC

Concurrent Investment Advisors LLC raised its position in AstraZeneca PLC (NASDAQ:AZN - Free Report) by 89.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 32,114 shares of the company's stock after purchasing an additional 15,189 shares during the quarter. Concurrent Investment Advisors LLC's holdings in AstraZeneca were worth $2,360,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. HM Payson & Co. raised its stake in shares of AstraZeneca by 895.0% in the 1st quarter. HM Payson & Co. now owns 55,333 shares of the company's stock valued at $4,067,000 after acquiring an additional 49,772 shares during the period. Bank of New York Mellon Corp raised its stake in shares of AstraZeneca by 7.5% in the 1st quarter. Bank of New York Mellon Corp now owns 994,084 shares of the company's stock valued at $73,065,000 after acquiring an additional 69,557 shares during the period. Seascape Capital Management raised its stake in shares of AstraZeneca by 1.4% in the 1st quarter. Seascape Capital Management now owns 42,888 shares of the company's stock valued at $3,152,000 after acquiring an additional 579 shares during the period. Wayfinding Financial LLC purchased a new stake in shares of AstraZeneca in the 1st quarter valued at approximately $86,000. Finally, Truist Financial Corp raised its stake in shares of AstraZeneca by 189.2% in the 1st quarter. Truist Financial Corp now owns 705,491 shares of the company's stock valued at $51,854,000 after acquiring an additional 461,568 shares during the period. 20.35% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, BNP Paribas assumed coverage on shares of AstraZeneca in a research note on Tuesday, April 15th. They issued an "outperform" rating and a $75.00 price target on the stock. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, AstraZeneca presently has an average rating of "Moderate Buy" and an average target price of $85.00.

AstraZeneca Price Performance

Shares of AZN opened at $69.60 on Monday. AstraZeneca PLC has a fifty-two week low of $61.24 and a fifty-two week high of $87.68. The firm's 50 day moving average price is $70.78 and its 200 day moving average price is $70.68. The company has a market cap of $215.85 billion, a P/E ratio of 27.95, a PEG ratio of 1.28 and a beta of 0.37. The company has a quick ratio of 0.70, a current ratio of 0.90 and a debt-to-equity ratio of 0.65.

AstraZeneca (NASDAQ:AZN - Get Free Report) last announced its earnings results on Tuesday, April 29th. The company reported $1.24 earnings per share for the quarter, topping the consensus estimate of $1.10 by $0.14. AstraZeneca had a net margin of 14.14% and a return on equity of 33.14%. The firm had revenue of $13.59 billion for the quarter, compared to the consensus estimate of $13.71 billion. During the same period in the prior year, the firm earned $2.06 EPS. The firm's revenue for the quarter was up 7.2% on a year-over-year basis. On average, research analysts forecast that AstraZeneca PLC will post 4.51 earnings per share for the current fiscal 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.

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