AstraZeneca PLC (NASDAQ:AZN) Stock Position Lessened by Oppenheimer Asset Management Inc.

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

A number of other hedge funds have also recently added to or reduced their stakes in the business. Dynamic Advisor Solutions LLC raised its holdings in shares of AstraZeneca by 58.4% in the 1st quarter. Dynamic Advisor Solutions LLC now owns 13,055 shares of the company's stock worth $960,000 after purchasing an additional 4,811 shares during the period. Geode Capital Management LLC increased its holdings in AstraZeneca by 1.1% during the 4th quarter. Geode Capital Management LLC now owns 498,831 shares of the company's stock worth $32,683,000 after purchasing an additional 5,384 shares during the last quarter. Dorsey & Whitney Trust CO LLC increased its holdings in AstraZeneca by 0.5% during the 4th quarter. Dorsey & Whitney Trust CO LLC now owns 35,300 shares of the company's stock worth $2,313,000 after purchasing an additional 189 shares during the last quarter. Brandywine Global Investment Management LLC purchased a new stake in AstraZeneca during the 4th quarter worth approximately $28,071,000. Finally, Farther Finance Advisors LLC increased its holdings in AstraZeneca by 13.1% during the 1st quarter. Farther Finance Advisors LLC now owns 6,083 shares of the company's stock worth $442,000 after purchasing an additional 706 shares during the last quarter. 20.35% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

AstraZeneca Stock Performance

Shares of NASDAQ AZN traded down $0.22 during trading on Friday, reaching $69.85. The stock had a trading volume of 3,133,365 shares, compared to its average volume of 5,222,843. AstraZeneca PLC has a one year low of $61.24 and a one year high of $87.68. 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 cap of $216.63 billion, a PE ratio of 28.05, a P/E/G ratio of 1.28 and a beta of 0.38. The firm's 50 day moving average price is $70.59 and its two-hundred day moving average price is $70.50.

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 analysts' consensus estimates of $1.10 by $0.14. AstraZeneca had a return on equity of 33.14% and a net margin of 14.14%. The business had revenue of $13.59 billion during the quarter, compared to the consensus estimate of $13.71 billion. During the same period in the previous year, the business earned $2.06 EPS. The business's quarterly revenue was up 7.2% on a year-over-year basis. On average, research analysts forecast that AstraZeneca PLC will post 4.51 earnings per share for the current fiscal year.

About AstraZeneca

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.