Parallel Advisors LLC Invests $1.72 Million in Astrazeneca Plc $AZN

Key Points

• Parallel Advisors LLC disclosed a new first-quarter stake in AstraZeneca, buying 8,718 shares valued at about $1.72 million.
• AstraZeneca reported better-than-expected quarterly results, with EPS of $2.58 versus the $2.52 estimate and revenue of $15.29 billion versus $14.93 billion expected.
• Wall Street sentiment remains positive: 13 analysts rate the stock a Buy, and the consensus price target is $211, above the recent share price around $169.20.

Parallel Advisors LLC acquired a new stake in Astrazeneca Plc (NYSE:AZN - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 8,718 shares of the company's stock, valued at approximately $1,719,000.

A number of other institutional investors also recently added to or reduced their stakes in the business. Mascoma Wealth Management LLC acquired a new stake in Astrazeneca in the first quarter valued at $26,000. MV Capital Management Inc. acquired a new position in shares of Astrazeneca during the 4th quarter worth $26,000. Reflection Asset Management purchased a new position in shares of Astrazeneca in the 4th quarter valued at about $31,000. Raleigh Capital Management Inc. acquired a new stake in shares of Astrazeneca in the first quarter valued at about $38,000. Finally, Avion Wealth lifted its stake in shares of Astrazeneca by 166.2% in the first quarter. Avion Wealth now owns 197 shares of the company's stock valued at $38,000 after purchasing an additional 123 shares during the period. Hedge funds and other institutional investors own 20.35% of the company's stock.

Astrazeneca Stock Performance

Shares of NYSE AZN opened at $169.20 on Wednesday. The company has a market cap of $262.42 billion, a PE ratio of 25.41, a price-to-earnings-growth ratio of 1.34 and a beta of 0.24. Astrazeneca Plc has a 12 month low of $138.84 and a 12 month high of $212.71. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.91 and a quick ratio of 0.71. The company has a 50-day simple moving average of $181.50 and a 200-day simple moving average of $188.20.

Astrazeneca (NYSE:AZN - Get Free Report) last announced its quarterly earnings data on Wednesday, April 29th. The company reported $2.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.52 by $0.06. The business had revenue of $15.29 billion for the quarter, compared to the consensus estimate of $14.93 billion. Astrazeneca had a net margin of 17.19% and a return on equity of 30.86%. On average, equities analysts anticipate that Astrazeneca Plc will post 10.22 earnings per share for the current year.

Analyst Ratings Changes

AZN has been the topic of several recent analyst reports. JPMorgan Chase & Co. restated a "buy" rating on shares of Astrazeneca in a research report on Tuesday, June 30th. Sanford C. Bernstein reissued a "buy" rating on shares of Astrazeneca in a research note on Monday, May 4th. Bank of America restated a "buy" rating on shares of Astrazeneca in a report on Wednesday, July 1st. Morgan Stanley reaffirmed an "overweight" rating on shares of Astrazeneca in a research note on Wednesday, April 8th. Finally, Barclays reaffirmed a "buy" rating on shares of Astrazeneca in a report on Monday, June 1st. Thirteen investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Astrazeneca currently has an average rating of "Moderate Buy" and an average price target of $211.00.

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.

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