Robbins Farley Purchases New Shares in Astrazeneca Plc $AZN

Key Points

• Robbins Farley acquired 25,635 AstraZeneca shares worth approximately $4.86 million in the second quarter, making AZN about 1.9% of its portfolio and its 25th-largest holding.
• Several other institutional investors also initiated positions, and institutional investors and hedge funds collectively own 20.35% of AstraZeneca’s stock.
• Analysts maintain a generally positive outlook, with 13 Buy, two Hold and one Sell rating; the consensus is “Moderate Buy” with an average price target of $206.67. AstraZeneca also exceeded quarterly EPS expectations, reporting $2.63 versus the $2.50 consensus.

Robbins Farley acquired a new stake in Astrazeneca Plc (NYSE:AZN - Free Report) in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund acquired 25,635 shares of the company's stock, valued at approximately $4,861,000. Astrazeneca comprises approximately 1.9% of Robbins Farley's investment portfolio, making the stock its 25th biggest holding.

A number of other institutional investors and hedge funds also recently bought and sold shares of AZN. Professional Advisory Services Inc. acquired a new stake in shares of Astrazeneca in the second quarter valued at approximately $30,241,000. Wealthcare Advisory Partners LLC bought a new position in Astrazeneca in the 2nd quarter worth approximately $2,296,000. Westport Asset Management Inc. acquired a new position in Astrazeneca during the 2nd quarter worth $1,422,000. Madison Asset Management LLC bought a new position in Astrazeneca in the 2nd quarter valued at $4,041,000. Finally, Plato Investment Management Ltd bought a new position in Astrazeneca in the 2nd quarter valued at $5,901,000. Institutional investors and hedge funds own 20.35% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on AZN shares. Barclays restated a "buy" rating on shares of Astrazeneca in a research report on Monday, June 1st. HSBC cut Astrazeneca from a "buy" rating to a "hold" rating in a report on Monday, July 13th. Jefferies Financial Group restated a "buy" rating on shares of Astrazeneca in a research report on Friday, June 26th. Bank of America reaffirmed a "buy" rating on shares of Astrazeneca in a research note on Wednesday, July 1st. Finally, The Goldman Sachs Group reissued a "buy" rating on shares of Astrazeneca in a research note on Wednesday, July 1st. Thirteen analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $206.67.

Astrazeneca Stock Performance

Shares of Astrazeneca stock opened at $161.74 on Thursday. The company has a market capitalization of $250.85 billion, a PE ratio of 24.18, a PEG ratio of 1.27 and a beta of 0.25. Astrazeneca Plc has a 12 month low of $145.79 and a 12 month high of $212.71. The company has a current ratio of 0.89, a quick ratio of 0.67 and a debt-to-equity ratio of 0.47. The stock's fifty day simple moving average is $170.15 and its 200 day simple moving average is $184.24.

Astrazeneca (NYSE:AZN - Get Free Report) last posted its earnings results on Monday, July 27th. The company reported $2.63 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.50 by $0.13. The firm had revenue of $15.38 billion during the quarter, compared to analysts' expectations of $15.44 billion. Astrazeneca had a return on equity of 31.45% and a net margin of 17.02%.The company's revenue was up 6.4% on a year-over-year basis. During the same period in the previous year, the firm earned $2.17 earnings per share. On average, research analysts predict that Astrazeneca Plc will post 10.19 EPS for the current year.

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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