Cerity Partners LLC Acquires 255,401 Shares of AstraZeneca PLC (NASDAQ:AZN)

Cerity Partners LLC boosted its holdings in AstraZeneca PLC (NASDAQ:AZN - Free Report) by 122.9% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 463,261 shares of the company's stock after buying an additional 255,401 shares during the period. Cerity Partners LLC's holdings in AstraZeneca were worth $34,050,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of AZN. Banque Transatlantique SA purchased a new position in AstraZeneca in the fourth quarter valued at about $26,000. Confluence Investment Management LLC bought a new position in shares of AstraZeneca during the first quarter worth about $27,000. Mascagni Wealth Management Inc. acquired a new position in shares of AstraZeneca in the 4th quarter worth approximately $29,000. FNY Investment Advisers LLC acquired a new position in AstraZeneca in the first quarter worth $29,000. Finally, Highline Wealth Partners LLC grew its position 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 buying an additional 340 shares during the last quarter. 20.35% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

AZN has been the topic of several analyst reports. BNP Paribas assumed coverage on AstraZeneca in a research report on Tuesday, April 15th. They issued an "outperform" rating and a $75.00 target price on the stock. Berenberg Bank set a $97.00 price target on AstraZeneca in a research note on Wednesday. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat.com, AstraZeneca currently has an average rating of "Moderate Buy" and an average target price of $89.00.

AstraZeneca Trading Down 0.9%

AZN traded down $0.68 during trading on Friday, reaching $71.13. The company had a trading volume of 2,729,851 shares, compared to its average volume of 5,279,228. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.70 and a current ratio of 0.90. AstraZeneca PLC has a 12-month low of $61.24 and a 12-month high of $87.68. The company has a market cap of $220.60 billion, a price-to-earnings ratio of 28.57, a PEG ratio of 1.31 and a beta of 0.37. The firm's 50-day simple moving average is $70.72 and its 200 day simple moving average is $70.81.

AstraZeneca (NASDAQ:AZN - Get Free Report) last released its earnings results on Tuesday, April 29th. The company reported $1.24 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 analyst estimates of $13.71 billion. During the same quarter in the prior year, the company earned $2.06 earnings per share. The company's revenue for the quarter was up 7.2% on a year-over-year basis. Equities research analysts anticipate that AstraZeneca PLC will post 4.51 earnings per share for the current 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.