HB Wealth Management LLC Invests $4.90 Million in Astrazeneca Plc $AZN

Key Points

• HB Wealth Management purchased 25,953 AstraZeneca shares in the second quarter, establishing a new position valued at approximately $4.90 million.
• AstraZeneca reported quarterly EPS of $2.63, beating estimates of $2.50, while revenue rose 6.4% year over year to $15.38 billion, slightly below expectations.
• Analyst sentiment remains broadly positive, with 13 Buy ratings, two Holds and one Sell; the consensus rating is Moderate Buy with a target price of $206.67, versus a recent price of $162.62.

HB Wealth Management LLC purchased a new stake in Astrazeneca Plc (NYSE:AZN - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 25,953 shares of the company's stock, valued at approximately $4,902,000.

Several other large investors also recently made changes to their positions in AZN. Triumph Capital Management bought a new stake in shares of Astrazeneca in the third quarter valued at about $25,000. MV Capital Management Inc. bought a new stake in Astrazeneca in the 4th quarter valued at approximately $26,000. Mascoma Wealth Management LLC acquired a new position in Astrazeneca during the 1st quarter worth approximately $26,000. Roxbury Financial LLC bought a new position in shares of Astrazeneca during the 2nd quarter worth approximately $29,000. Finally, Reflection Asset Management bought a new position in shares of Astrazeneca during the 4th quarter worth approximately $31,000. Institutional investors own 20.35% of the company's stock.

Astrazeneca Price Performance

NYSE:AZN opened at $162.62 on Tuesday. Astrazeneca Plc has a 1-year low of $145.79 and a 1-year high of $212.71. The company has a current ratio of 0.89, a quick ratio of 0.67 and a debt-to-equity ratio of 0.47. The firm has a fifty day simple moving average of $168.65 and a 200 day simple moving average of $183.69. The stock has a market capitalization of $252.21 billion, a PE ratio of 24.31, a P/E/G ratio of 1.27 and a beta of 0.25.

Astrazeneca (NYSE:AZN - Get Free Report) last posted its quarterly earnings results on Monday, July 27th. The company reported $2.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.50 by $0.13. The firm had revenue of $15.38 billion for the quarter, compared to analyst estimates of $15.44 billion. Astrazeneca had a net margin of 17.02% and a return on equity of 31.45%. The company's quarterly revenue was up 6.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.17 earnings per share. On average, research analysts expect that Astrazeneca Plc will post 10.19 EPS for the current fiscal year.

Wall Street Analyst Weigh In

AZN has been the topic of a number of research reports. Deutsche Bank Aktiengesellschaft reissued a "sell" rating on shares of Astrazeneca in a research report on Tuesday, June 30th. JPMorgan Chase & Co. reiterated a "buy" rating on shares of Astrazeneca in a research note on Tuesday, June 30th. Weiss Ratings cut shares of Astrazeneca from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Tuesday, July 28th. Bank of America restated a "buy" rating on shares of Astrazeneca in a research note on Wednesday, July 1st. Finally, Wall Street Zen cut Astrazeneca from a "buy" rating to a "hold" rating in a report on Saturday, August 1st. Thirteen investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $206.67.

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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