Simmons Bank Lowers Stake in AstraZeneca PLC (NASDAQ:AZN)

Simmons Bank trimmed its holdings in AstraZeneca PLC (NASDAQ:AZN - Free Report) by 77.5% in the first quarter, according to its most recent disclosure with the SEC. The fund owned 8,932 shares of the company's stock after selling 30,821 shares during the period. Simmons Bank's holdings in AstraZeneca were worth $657,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Banque Transatlantique SA acquired a new stake in AstraZeneca in the fourth quarter valued at about $26,000. Confluence Investment Management LLC purchased a new position in shares of AstraZeneca during the 1st quarter worth approximately $27,000. Mascagni Wealth Management Inc. purchased a new position in shares of AstraZeneca during the 4th quarter worth approximately $29,000. FNY Investment Advisers LLC acquired a new stake in shares of AstraZeneca in the 1st quarter valued at approximately $29,000. Finally, Highline Wealth Partners LLC boosted its stake in shares of AstraZeneca by 447.4% in the first quarter. Highline Wealth Partners LLC now owns 416 shares of the company's stock valued at $31,000 after buying an additional 340 shares in the last quarter. Institutional investors and hedge funds own 20.35% of the company's stock.

AstraZeneca Price Performance

AstraZeneca stock traded up $0.18 during mid-day trading on Monday, reaching $69.63. The company had a trading volume of 4,441,469 shares, compared to its average volume of 5,261,088. The company has a market capitalization of $215.94 billion, a P/E ratio of 16.08, a P/E/G ratio of 1.28 and a beta of 0.37. 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 PLC has a 1 year low of $61.24 and a 1 year high of $87.68. The stock's 50-day simple moving average is $70.78 and its 200-day simple moving average is $70.68.

AstraZeneca (NASDAQ:AZN - Get Free Report) last announced its earnings results on Tuesday, April 29th. The company reported $1.24 earnings per share for the quarter, beating the consensus estimate of $1.10 by $0.14. The firm had revenue of $13.59 billion during the quarter, compared to the consensus estimate of $13.71 billion. AstraZeneca had a net margin of 14.14% and a return on equity of 33.14%. The firm's revenue for the quarter was up 7.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.06 EPS. On average, equities analysts predict that AstraZeneca PLC will post 4.51 EPS for the current year.

Analyst Ratings Changes

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

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.