Oppenheimer Asset Management Inc. Has $7.06 Million Stock Position in AstraZeneca PLC (NASDAQ:AZN)

Oppenheimer Asset Management Inc. reduced its holdings in shares of AstraZeneca PLC (NASDAQ:AZN - Free Report) by 6.5% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 96,003 shares of the company's stock after selling 6,628 shares during the quarter. Oppenheimer Asset Management Inc.'s holdings in AstraZeneca were worth $7,056,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of AZN. Banque Transatlantique SA bought a new position in AstraZeneca in the fourth quarter valued at about $26,000. Confluence Investment Management LLC bought a new position in AstraZeneca in the first quarter valued at about $27,000. Mascagni Wealth Management Inc. bought a new position in AstraZeneca in the fourth quarter valued at about $29,000. FNY Investment Advisers LLC bought a new position in AstraZeneca in the first quarter valued at about $29,000. Finally, Highline Wealth Partners LLC raised its position in AstraZeneca by 447.4% in the first quarter. Highline Wealth Partners LLC now owns 416 shares of the company's stock valued at $31,000 after purchasing an additional 340 shares during the last quarter. 20.35% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

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

AstraZeneca Trading Up 0.6%

Shares of AZN stock traded up $0.39 on Thursday, hitting $70.07. The company had a trading volume of 4,249,105 shares, compared to its average volume of 5,207,338. The firm has a market cap of $217.31 billion, a P/E ratio of 28.14, a P/E/G ratio of 1.29 and a beta of 0.38. The stock's 50-day moving average is $70.50 and its two-hundred day moving average is $70.45. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.70 and a current ratio of 0.90. AstraZeneca PLC has a twelve month low of $61.24 and a twelve month high of $87.68.

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

AstraZeneca 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.