New Century Financial Group LLC Sells 8,648 Shares of AstraZeneca PLC (NASDAQ:AZN)

New Century Financial Group LLC lowered its stake in AstraZeneca PLC (NASDAQ:AZN - Free Report) by 75.2% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 2,846 shares of the company's stock after selling 8,648 shares during the period. New Century Financial Group LLC's holdings in AstraZeneca were worth $209,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Elevation Point Wealth Partners LLC increased its position in AstraZeneca by 23.3% during the 1st quarter. Elevation Point Wealth Partners LLC now owns 55,075 shares of the company's stock worth $4,048,000 after buying an additional 10,422 shares during the period. Stanley Laman Group Ltd. grew its stake in shares of AstraZeneca by 19.5% in the first quarter. Stanley Laman Group Ltd. now owns 58,849 shares of the company's stock valued at $4,325,000 after acquiring an additional 9,614 shares in the last quarter. Compagnie Lombard Odier SCmA bought a new position in AstraZeneca during the first quarter worth about $175,000. Simon Quick Advisors LLC raised its stake in AstraZeneca by 42.8% in the 1st quarter. Simon Quick Advisors LLC now owns 7,969 shares of the company's stock worth $586,000 after purchasing an additional 2,390 shares in the last quarter. Finally, McKinley Carter Wealth Services Inc. boosted its holdings in AstraZeneca by 6.7% in the 1st quarter. McKinley Carter Wealth Services Inc. now owns 5,232 shares of the company's stock valued at $385,000 after purchasing an additional 328 shares during the period. Institutional investors and hedge funds own 20.35% of the company's stock.

AstraZeneca Price Performance

Shares of AZN traded down $2.58 during trading hours on Tuesday, hitting $70.97. 4,261,202 shares of the company were exchanged, compared to its average volume of 5,204,318. The company has a quick ratio of 0.70, a current ratio of 0.90 and a debt-to-equity ratio of 0.65. AstraZeneca PLC has a fifty-two week low of $61.24 and a fifty-two week high of $87.68. The company has a market cap of $220.10 billion, a price-to-earnings ratio of 28.50, a P/E/G ratio of 1.35 and a beta of 0.38. The firm's fifty day moving average is $70.07 and its 200 day moving average is $70.35.

AstraZeneca (NASDAQ:AZN - Get Free Report) last announced its quarterly earnings data on Tuesday, April 29th. The company reported $1.24 earnings per share (EPS) for the quarter, topping 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 the consensus estimate of $13.71 billion. During the same period in the prior year, the company posted $2.06 earnings per share. The business's revenue for the quarter was up 7.2% on a year-over-year basis. On average, equities analysts anticipate that AstraZeneca PLC will post 4.51 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

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

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.