Burling Wealth Partners LLC Buys Shares of 12,554 Astrazeneca Plc $AZN

Key Points

• Burling Wealth Partners LLC opened a new position in AstraZeneca, buying 12,554 shares worth about $2.48 million in the first quarter.
• Institutional interest in AstraZeneca remains significant, with large investors like Fisher Asset Management, Franklin Resources, Morgan Stanley, and Bank of New York Mellon adding to their stakes. Overall, institutions and hedge funds own about 20.35% of the company.
• AstraZeneca beat quarterly expectations, reporting $2.58 EPS on $15.29 billion in revenue, and analysts remain mostly bullish with a consensus rating of “Moderate Buy” and a target price of $211.

Burling Wealth Partners LLC purchased a new position in shares of Astrazeneca Plc (NYSE:AZN - Free Report) in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 12,554 shares of the company's stock, valued at approximately $2,476,000.

Other large investors have also made changes to their positions in the company. Fisher Asset Management LLC raised its position in Astrazeneca by 2.1% during the fourth quarter. Fisher Asset Management LLC now owns 21,601,433 shares of the company's stock valued at $3,791,051,000 after purchasing an additional 438,709 shares in the last quarter. Franklin Resources Inc. boosted its holdings in shares of Astrazeneca by 2.3% in the 4th quarter. Franklin Resources Inc. now owns 20,157,744 shares of the company's stock valued at $3,537,684,000 after purchasing an additional 445,014 shares in the last quarter. Morgan Stanley increased its stake in shares of Astrazeneca by 3.2% in the 4th quarter. Morgan Stanley now owns 13,878,726 shares of the company's stock valued at $2,435,716,000 after purchasing an additional 432,939 shares during the last quarter. Bank of New York Mellon Corp increased its stake in shares of Astrazeneca by 546.1% in the 1st quarter. Bank of New York Mellon Corp now owns 6,667,812 shares of the company's stock valued at $1,315,026,000 after purchasing an additional 5,635,812 shares during the last quarter. Finally, Swiss National Bank acquired a new position in shares of Astrazeneca during the 1st quarter worth $1,202,714,000. Institutional investors and hedge funds own 20.35% of the company's stock.

Astrazeneca Price Performance

Shares of AZN opened at $164.14 on Tuesday. The company has a quick ratio of 0.71, a current ratio of 0.91 and a debt-to-equity ratio of 0.52. The stock has a market cap of $254.56 billion, a PE ratio of 24.65, a PEG ratio of 1.38 and a beta of 0.24. Astrazeneca Plc has a 12-month low of $137.23 and a 12-month high of $212.71. The business has a 50-day simple moving average of $181.80 and a two-hundred day simple moving average of $188.30.

Astrazeneca (NYSE:AZN - Get Free Report) last announced its quarterly earnings results on Wednesday, April 29th. The company reported $2.58 EPS for the quarter, beating analysts' consensus estimates of $2.52 by $0.06. The firm had revenue of $15.29 billion for the quarter, compared to analyst estimates of $14.93 billion. Astrazeneca had a return on equity of 30.86% and a net margin of 17.19%. Analysts anticipate that Astrazeneca Plc will post 10.22 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on AZN shares. JPMorgan Chase & Co. reaffirmed a "buy" rating on shares of Astrazeneca in a research note on Tuesday, June 30th. DZ Bank raised shares of Astrazeneca from a "neutral" rating to a "buy" rating in a report on Wednesday, April 29th. Sanford C. Bernstein restated a "buy" rating on shares of Astrazeneca in a research note on Monday, May 4th. Wall Street Zen raised shares of Astrazeneca from a "hold" rating to a "buy" rating in a report on Saturday, May 2nd. Finally, HSBC cut shares of Astrazeneca from a "buy" rating to a "hold" rating in a research report on Monday, July 13th. Thirteen analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $211.00.

Astrazeneca Profile

AstraZeneca plc is a global biopharmaceutical company headquartered in Cambridge, England. Formed through the 1999 merger of Sweden’s Astra AB and the UK’s Zeneca Group, the company researches, develops, manufactures and commercializes prescription medicines across a range of therapeutic areas. AstraZeneca positions itself as R&D-driven, investing in discovery science, clinical development and regulatory processes to bring new therapies to market.

The company’s commercial portfolio and late-stage pipeline emphasize oncology, cardiovascular, renal and metabolic (CVRM) diseases, and respiratory and immunology.

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