Penobscot Investment Management Company Inc. Has $4.17 Million Stock Holdings in AstraZeneca PLC (NASDAQ:AZN)

Penobscot Investment Management Company Inc. grew its holdings in AstraZeneca PLC (NASDAQ:AZN - Free Report) by 37.1% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 56,755 shares of the company's stock after purchasing an additional 15,351 shares during the period. Penobscot Investment Management Company Inc.'s holdings in AstraZeneca were worth $4,171,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Sequoia Financial Advisors LLC increased its stake in shares of AstraZeneca by 23.6% in the 1st quarter. Sequoia Financial Advisors LLC now owns 35,711 shares of the company's stock valued at $2,625,000 after purchasing an additional 6,817 shares during the last quarter. Alpine Bank Wealth Management bought a new stake in AstraZeneca during the 1st quarter worth $72,000. Golden State Wealth Management LLC grew its position in AstraZeneca by 400.1% during the 1st quarter. Golden State Wealth Management LLC now owns 4,176 shares of the company's stock worth $307,000 after acquiring an additional 3,341 shares during the last quarter. Bessemer Group Inc. grew its position in AstraZeneca by 5.8% during the 1st quarter. Bessemer Group Inc. now owns 121,851 shares of the company's stock worth $8,956,000 after acquiring an additional 6,664 shares during the last quarter. Finally, Spire Wealth Management grew its position in AstraZeneca by 10.6% during the 1st quarter. Spire Wealth Management now owns 7,065 shares of the company's stock worth $519,000 after acquiring an additional 679 shares during the last quarter. Institutional investors own 20.35% of the company's stock.

Wall Street Analysts Forecast Growth

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

AstraZeneca Price Performance

AZN stock traded down $0.22 during midday trading on Friday, reaching $69.85. 3,133,365 shares of the stock were exchanged, compared to its average volume of 5,216,608. The stock has a market capitalization of $216.63 billion, a PE ratio of 28.05, a P/E/G ratio of 1.28 and a beta of 0.38. AstraZeneca PLC has a 52 week low of $61.24 and a 52 week high of $87.68. The company has a fifty day moving average price of $70.59 and a 200 day moving average price of $70.48. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.90 and a quick ratio of 0.70.

AstraZeneca (NASDAQ:AZN - Get Free Report) last announced its earnings results on Tuesday, April 29th. The company reported $1.24 EPS for the quarter, topping the consensus estimate of $1.10 by $0.14. The firm had revenue of $13.59 billion for the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same period in the previous year, the business earned $2.06 EPS. As a group, analysts expect that AstraZeneca PLC will post 4.51 EPS for the current fiscal year.

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.