Oliver Luxxe Assets LLC Purchases New Position in Astrazeneca Plc $AZN

Key Points

• Oliver Luxxe Assets LLC acquired 45,272 AstraZeneca shares worth approximately $8.5 million in the second quarter, making the position 1.3% of its portfolio. Institutional investors collectively own 20.35% of the company.
• Analyst sentiment remains broadly positive, with 12 Buy ratings, two Holds and one Sell; AstraZeneca has a consensus “Moderate Buy” rating and an average price target of $211, despite recent downgrades from HSBC and Wall Street Zen.
• AstraZeneca exceeded quarterly earnings expectations, reporting $2.63 in EPS versus $2.50 expected, while revenue rose 6.4% year over year to $15.38 billion, slightly below forecasts.

Oliver Luxxe Assets LLC bought a new stake in Astrazeneca Plc (NYSE:AZN - Free Report) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 45,272 shares of the company's stock, valued at approximately $8,518,000. Astrazeneca comprises approximately 1.3% of Oliver Luxxe Assets LLC's portfolio, making the stock its 24th biggest holding.

Other large investors also recently added to or reduced their stakes in the company. Triumph Capital Management bought a new stake in Astrazeneca in the third quarter worth $25,000. MV Capital Management Inc. acquired a new position in Astrazeneca during the fourth quarter worth $26,000. Mascoma Wealth Management LLC bought a new position in Astrazeneca during the first quarter valued at about $26,000. Roxbury Financial LLC bought a new position in Astrazeneca during the second quarter valued at about $29,000. Finally, Eagle Bay Advisors LLC acquired a new stake in shares of Astrazeneca in the fourth quarter worth about $30,000. 20.35% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts have recently issued reports on AZN shares. HSBC downgraded Astrazeneca from a "buy" rating to a "hold" rating in a research note on Monday, July 13th. The Goldman Sachs Group restated a "buy" rating on shares of Astrazeneca in a report on Wednesday, July 1st. Bank of America reaffirmed a "buy" rating on shares of Astrazeneca in a research report on Wednesday, July 1st. Wall Street Zen downgraded Astrazeneca from a "buy" rating to a "hold" rating in a report on Saturday, August 1st. Finally, Deutsche Bank Aktiengesellschaft reissued a "sell" rating on shares of Astrazeneca in a research report on Tuesday, June 30th. Twelve investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Astrazeneca currently has an average rating of "Moderate Buy" and an average target price of $211.00.

Astrazeneca Trading Up 0.1%

Shares of NYSE:AZN opened at $161.28 on Friday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.67 and a current ratio of 0.89. The stock's 50-day moving average is $176.34 and its 200-day moving average is $187.12. The company has a market cap of $250.12 billion, a P/E ratio of 24.11, a P/E/G ratio of 1.39 and a beta of 0.26. Astrazeneca Plc has a 52-week low of $145.79 and a 52-week high of $212.71.

Astrazeneca (NYSE:AZN - Get Free Report) last issued its quarterly earnings results on Monday, July 27th. The company reported $2.63 EPS for the quarter, topping the consensus estimate of $2.50 by $0.13. Astrazeneca had a return on equity of 31.45% and a net margin of 17.02%.The company had revenue of $15.38 billion for the quarter, compared to the consensus estimate of $15.44 billion. During the same period in the previous year, the business posted $2.17 EPS. The company's revenue for the quarter was up 6.4% on a year-over-year basis. Equities research analysts predict that Astrazeneca Plc will post 10.22 earnings per share for the current year.

About Astrazeneca

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source