FourThought Financial Partners LLC Raises Stake in AstraZeneca PLC (NASDAQ:AZN)

Key Points

• FourThought Financial Partners LLC increased its stake in AstraZeneca by 13.1%, acquiring an additional 11,814 shares, bringing their total holdings to 101,670 shares valued at $7.47 million.
• Analysts have set a consensus price target of $89.00 for AstraZeneca, with Berenberg Bank suggesting a price objective of $97.00 and BNP Paribas giving the stock an "outperform" rating at $75.00.
• AstraZeneca's stock currently trades at $72.66, showing a market capitalization of $225.34 billion and a year high of $87.68.

FourThought Financial Partners LLC grew its position in AstraZeneca PLC (NASDAQ:AZN - Free Report) by 13.1% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 101,670 shares of the company's stock after buying an additional 11,814 shares during the period. FourThought Financial Partners LLC's holdings in AstraZeneca were worth $7,473,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Confluence Investment Management LLC acquired a new stake in AstraZeneca in the first quarter valued at approximately $27,000. Larson Financial Group LLC boosted its position in AstraZeneca by 297.9% in the first quarter. Larson Financial Group LLC now owns 386 shares of the company's stock valued at $28,000 after buying an additional 289 shares in the last quarter. FNY Investment Advisers LLC acquired a new stake in AstraZeneca in the first quarter valued at approximately $29,000. Banque Transatlantique SA acquired a new position in shares of AstraZeneca during the fourth quarter worth $26,000. Finally, Highline Wealth Partners LLC lifted its holdings in shares of AstraZeneca by 447.4% during the first quarter. Highline Wealth Partners LLC now owns 416 shares of the company's stock worth $31,000 after purchasing an additional 340 shares during the period. 20.35% of the stock is owned by institutional investors and hedge funds.

AstraZeneca Stock Performance

Shares of AZN stock traded up $2.31 during trading on Wednesday, reaching $76.29. 5,476,603 shares of the company's stock traded hands, compared to its average volume of 5,337,017. AstraZeneca PLC has a 1 year low of $61.24 and a 1 year high of $87.68. The company has a current ratio of 0.90, a quick ratio of 0.70 and a debt-to-equity ratio of 0.65. The company has a market capitalization of $236.60 billion, a P/E ratio of 30.62, a PEG ratio of 1.32 and a beta of 0.37. The firm's 50-day moving average is $71.28 and its 200 day moving average is $71.22.

AstraZeneca (NASDAQ:AZN - Get Free Report) last issued its quarterly earnings results on Tuesday, July 29th. The company reported $1.09 EPS for the quarter, hitting analysts' consensus estimates of $1.09. The firm had revenue of $14.46 billion for the quarter, compared to analyst estimates of $14.08 billion. AstraZeneca had a net margin of 14.14% and a return on equity of 33.14%. The business's revenue for the quarter was up 16.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.24 EPS. Equities research analysts expect that AstraZeneca PLC will post 4.51 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts have recently commented on AZN shares. Berenberg Bank set a $97.00 price target on shares of AstraZeneca in a report on Wednesday, July 9th. BNP Paribas initiated coverage on shares of AstraZeneca in a report on Tuesday, April 15th. They issued an "outperform" rating and a $75.00 target price on the stock. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, AstraZeneca presently has a consensus rating of "Moderate Buy" and a consensus target price of $89.00.

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.