Prosperity Wealth Management Inc. Takes $278,000 Position in AstraZeneca PLC (NASDAQ:AZN)

Prosperity Wealth Management Inc. purchased a new stake in AstraZeneca PLC (NASDAQ:AZN - Free Report) during the first quarter, according to its most recent filing with the SEC. The firm purchased 3,785 shares of the company's stock, valued at approximately $278,000.

A number of other institutional investors and hedge funds have also made changes to their positions in AZN. Banque Transatlantique SA purchased a new stake in shares of AstraZeneca during the 4th quarter valued at $26,000. Confluence Investment Management LLC purchased a new stake in shares of AstraZeneca during the 1st quarter valued at $27,000. Mascagni Wealth Management Inc. purchased a new stake in shares of AstraZeneca during the 4th quarter valued at $29,000. FNY Investment Advisers LLC purchased a new stake in shares of AstraZeneca during the 1st quarter valued at $29,000. Finally, Highline Wealth Partners LLC lifted its position in AstraZeneca by 447.4% during the 1st quarter. Highline Wealth Partners LLC now owns 416 shares of the company's stock worth $31,000 after acquiring an additional 340 shares during the period. 20.35% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, BNP Paribas started coverage on AstraZeneca in a research report on Tuesday, April 15th. They set an "outperform" rating and a $75.00 price target for the company. One investment analyst has rated the stock with a hold rating, five have given a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Buy" and an average price target of $85.00.

AstraZeneca Stock Performance

AZN traded down $0.21 on Thursday, reaching $70.76. 3,370,917 shares of the stock were exchanged, compared to its average volume of 5,202,526. The company's 50-day moving average price is $70.15 and its 200 day moving average price is $70.36. AstraZeneca PLC has a fifty-two week low of $61.24 and a fifty-two week high of $87.68. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.90 and a quick ratio of 0.70. The firm has a market capitalization of $219.45 billion, a PE ratio of 28.42, a PEG ratio of 1.30 and a beta of 0.38.

AstraZeneca (NASDAQ:AZN - Get Free Report) last released its quarterly earnings data 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. The business had revenue of $13.59 billion during the quarter, compared to analyst estimates of $13.71 billion. AstraZeneca had a return on equity of 33.14% and a net margin of 14.14%. The company's revenue was up 7.2% on a year-over-year basis. During the same quarter last year, the business posted $2.06 EPS. As a group, sell-side analysts forecast that AstraZeneca PLC will post 4.51 EPS 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.