Marks Group Wealth Management Inc Cuts Position in AstraZeneca PLC (NASDAQ:AZN)

Marks Group Wealth Management Inc lessened its stake in shares of AstraZeneca PLC (NASDAQ:AZN - Free Report) by 8.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 41,227 shares of the company's stock after selling 3,725 shares during the quarter. Marks Group Wealth Management Inc's holdings in AstraZeneca were worth $3,030,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of AZN. Confluence Investment Management LLC acquired a new position in AstraZeneca in the 1st quarter valued at $27,000. FNY Investment Advisers LLC purchased a new position in AstraZeneca in the 1st quarter valued at about $29,000. Banque Transatlantique SA acquired a new position in shares of AstraZeneca during the 4th quarter valued at about $26,000. Highline Wealth Partners LLC increased its stake in shares of AstraZeneca by 447.4% during the 1st quarter. Highline Wealth Partners LLC now owns 416 shares of the company's stock valued at $31,000 after acquiring an additional 340 shares during the last quarter. Finally, Mascagni Wealth Management Inc. acquired a new stake in AstraZeneca during the 4th quarter worth approximately $29,000. Hedge funds and other institutional investors own 20.35% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. Berenberg Bank set a $97.00 target price on AstraZeneca in a research note on Wednesday. BNP Paribas assumed coverage on AstraZeneca in a report on Tuesday, April 15th. They set an "outperform" rating and a $75.00 price target on the stock. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $89.00.

AstraZeneca Price Performance

AstraZeneca stock traded up $0.85 on Monday, reaching $71.98. The company's stock had a trading volume of 1,304,383 shares, compared to its average volume of 5,319,396. 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 market cap of $223.24 billion, a price-to-earnings ratio of 28.91, a PEG ratio of 1.31 and a beta of 0.37. The business's fifty day moving average price is $70.72 and its 200 day moving average price is $70.84. AstraZeneca PLC has a twelve month low of $61.24 and a twelve month high of $87.68.

AstraZeneca (NASDAQ:AZN - Get Free Report) last announced 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 33.14% and a net margin of 14.14%. The company had revenue of $13.59 billion during the quarter, compared to the consensus estimate of $13.71 billion. During the same period in the prior year, the company earned $2.06 earnings per share. The company's revenue for the quarter was up 7.2% compared to the same quarter last year. Equities analysts expect that AstraZeneca PLC will post 4.51 earnings per share 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.