Phoenix Financial Ltd. Sells 78,215 Shares of AstraZeneca PLC (NASDAQ:AZN)

Key Points

• Phoenix Financial Ltd. reduced its holdings in AstraZeneca PLC by 6.3%, now owning 1,156,005 shares, worth approximately $84.98 million.
• AstraZeneca reported an earnings per share (EPS) of $1.24 for the last quarter, beating estimates by $0.14, but its revenue of $13.59 billion fell short of expectations.
• Several brokerages have rated AstraZeneca with a consensus of "Moderate Buy" and have set an average price target of $89.00 for the stock.

Phoenix Financial Ltd. lessened its holdings in shares of AstraZeneca PLC (NASDAQ:AZN - Free Report) by 6.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,156,005 shares of the company's stock after selling 78,215 shares during the quarter. AstraZeneca comprises 1.3% of Phoenix Financial Ltd.'s portfolio, making the stock its 28th biggest holding. Phoenix Financial Ltd.'s holdings in AstraZeneca were worth $84,978,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Banque Transatlantique SA purchased a new position in shares of AstraZeneca in the 4th quarter worth approximately $26,000. Confluence Investment Management LLC purchased a new position in shares of AstraZeneca in the 1st quarter worth approximately $27,000. Larson Financial Group LLC boosted its holdings in shares of AstraZeneca by 297.9% in the 1st quarter. Larson Financial Group LLC now owns 386 shares of the company's stock worth $28,000 after purchasing an additional 289 shares during the period. Mascagni Wealth Management Inc. purchased a new position in shares of AstraZeneca in the 4th quarter worth approximately $29,000. Finally, FNY Investment Advisers LLC purchased a new position in shares of AstraZeneca in the 1st quarter worth approximately $29,000. Institutional investors own 20.35% of the company's stock.

AstraZeneca Stock Up 3.1%

NASDAQ AZN traded up $2.26 on Tuesday, reaching $74.09. 10,142,671 shares of the stock traded hands, compared to its average volume of 5,304,765. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.70 and a current ratio of 0.90. The company has a fifty day moving average price of $71.20 and a 200-day moving average price of $71.20. The company has a market cap of $229.78 billion, a price-to-earnings ratio of 29.78, a PEG ratio of 1.34 and a beta of 0.37. AstraZeneca PLC has a 12 month low of $61.24 and a 12 month high of $87.68.

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

Wall Street Analyst Weigh In

AZN has been the subject of a number of recent analyst reports. Berenberg Bank set a $97.00 price objective on AstraZeneca in a report on Wednesday, July 9th. BNP Paribas initiated coverage on AstraZeneca in a report on Tuesday, April 15th. They set an "outperform" rating and a $75.00 price objective for the company. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, AstraZeneca presently has a consensus rating of "Moderate Buy" and an average target price of $89.00.

AstraZeneca Company 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.