Elevation Point Wealth Partners LLC Increases Stake in AstraZeneca PLC (NASDAQ:AZN)

Elevation Point Wealth Partners LLC lifted its position in AstraZeneca PLC (NASDAQ:AZN - Free Report) by 23.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 55,075 shares of the company's stock after buying an additional 10,422 shares during the quarter. Elevation Point Wealth Partners LLC's holdings in AstraZeneca were worth $4,048,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Capital International Investors boosted its position in shares of AstraZeneca by 1.9% during the 4th quarter. Capital International Investors now owns 37,507,159 shares of the company's stock valued at $2,457,706,000 after acquiring an additional 686,008 shares during the last quarter. Bank of America Corp DE raised its stake in AstraZeneca by 189.3% in the fourth quarter. Bank of America Corp DE now owns 24,026,966 shares of the company's stock valued at $1,574,247,000 after purchasing an additional 15,722,197 shares in the last quarter. Franklin Resources Inc. lifted its position in AstraZeneca by 1.9% during the fourth quarter. Franklin Resources Inc. now owns 19,480,569 shares of the company's stock valued at $1,276,367,000 after purchasing an additional 357,894 shares during the last quarter. Sanders Capital LLC lifted its position in AstraZeneca by 1.4% during the fourth quarter. Sanders Capital LLC now owns 15,186,692 shares of the company's stock valued at $995,032,000 after purchasing an additional 212,301 shares during the last quarter. Finally, Fisher Asset Management LLC grew its stake in AstraZeneca by 4.6% in the 4th quarter. Fisher Asset Management LLC now owns 10,959,852 shares of the company's stock worth $718,090,000 after buying an additional 479,692 shares in the last quarter. 20.35% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, BNP Paribas began coverage on shares of AstraZeneca in a research report on Tuesday, April 15th. They issued an "outperform" rating and a $75.00 target price for the company. One equities research analyst has rated the stock with a hold rating, five have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, AstraZeneca presently has a consensus rating of "Buy" and a consensus target price of $85.00.

AstraZeneca Price Performance

Shares of AZN stock traded down $2.58 during trading hours on Tuesday, hitting $70.97. 4,261,202 shares of the company's stock were exchanged, compared to its average volume of 5,204,318. The company has a market capitalization of $220.10 billion, a PE ratio of 28.50, a PEG ratio of 1.35 and a beta of 0.38. The company has a current ratio of 0.90, a quick ratio of 0.70 and a debt-to-equity ratio of 0.65. AstraZeneca PLC has a 12-month low of $61.24 and a 12-month high of $87.68. The business's 50 day simple moving average is $70.07 and its 200-day simple moving average is $70.35.

AstraZeneca (NASDAQ:AZN - Get Free Report) last released its earnings results on Tuesday, April 29th. The company reported $1.24 EPS for the quarter, beating the consensus estimate of $1.10 by $0.14. The company had revenue of $13.59 billion for the quarter, compared to analyst estimates of $13.71 billion. AstraZeneca had a net margin of 14.14% and a return on equity of 33.14%. The firm's quarterly revenue was up 7.2% compared to the same quarter last year. During the same quarter last year, the firm earned $2.06 EPS. On average, equities research analysts anticipate that AstraZeneca PLC will post 4.51 earnings per share for the current year.

About AstraZeneca

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.