Janney Montgomery Scott LLC Purchases Shares of 298,310 AstraZeneca PLC (NASDAQ:AZN)

Janney Montgomery Scott LLC bought a new stake in shares of AstraZeneca PLC (NASDAQ:AZN - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 298,310 shares of the company's stock, valued at approximately $21,926,000.

A number of other institutional investors and hedge funds have also made changes to their positions in AZN. Confluence Investment Management LLC bought a new position in AstraZeneca during the 1st quarter worth $27,000. Banque Transatlantique SA bought a new position in shares of AstraZeneca during the fourth quarter worth about $26,000. Mascagni Wealth Management Inc. acquired a new stake in shares of AstraZeneca in the 4th quarter worth about $29,000. CoreCap Advisors LLC raised its holdings in shares of AstraZeneca by 31.8% during the fourth quarter. CoreCap Advisors LLC now owns 642 shares of the company's stock valued at $42,000 after buying an additional 155 shares during the last quarter. Finally, Financial Management Professionals Inc. raised its position in shares of AstraZeneca by 34.4% during the 1st quarter. Financial Management Professionals Inc. now owns 781 shares of the company's stock worth $57,000 after buying an additional 200 shares in the last quarter. 20.35% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, BNP Paribas initiated coverage on AstraZeneca in a report on Tuesday, April 15th. They set an "outperform" rating and a $75.00 target price on the stock. One investment analyst has rated the stock with a hold rating, five have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Buy" and an average price target of $85.00.

AstraZeneca Trading Down 0.3%

AZN traded down $0.21 during mid-day trading on Thursday, reaching $70.76. The stock had a trading volume of 3,370,917 shares, compared to its average volume of 5,202,526. The firm's fifty day simple moving average is $70.15 and its two-hundred day simple moving average is $70.36. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.70 and a current ratio of 0.90. The stock has a market capitalization of $219.45 billion, a P/E ratio of 28.42, a P/E/G ratio of 1.30 and a beta of 0.38. AstraZeneca PLC has a 52 week low of $61.24 and a 52 week high of $87.68.

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

AstraZeneca Company 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.