Transcend Capital Advisors LLC Lowers Stock Holdings in AstraZeneca PLC (NASDAQ:AZN)

Transcend Capital Advisors LLC decreased its position in shares of AstraZeneca PLC (NASDAQ:AZN - Free Report) by 27.2% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 52,891 shares of the company's stock after selling 19,729 shares during the period. Transcend Capital Advisors LLC's holdings in AstraZeneca were worth $3,887,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Diversified Trust Co grew its stake in shares of AstraZeneca by 7.8% during the first quarter. Diversified Trust Co now owns 6,069 shares of the company's stock valued at $446,000 after buying an additional 439 shares during the last quarter. First Merchants Corp grew its stake in shares of AstraZeneca by 44.3% during the first quarter. First Merchants Corp now owns 96,589 shares of the company's stock valued at $7,099,000 after buying an additional 29,670 shares during the last quarter. PDS Planning Inc grew its stake in shares of AstraZeneca by 17.0% during the first quarter. PDS Planning Inc now owns 10,735 shares of the company's stock valued at $789,000 after buying an additional 1,561 shares during the last quarter. Bank of Stockton grew its stake in shares of AstraZeneca by 6.8% during the first quarter. Bank of Stockton now owns 5,009 shares of the company's stock valued at $368,000 after buying an additional 321 shares during the last quarter. Finally, SFG Wealth Management LLC. bought a new position in shares of AstraZeneca during the first quarter valued at about $298,000. 20.35% of the stock is owned by institutional investors.

AstraZeneca Stock Up 0.6%

NASDAQ AZN opened at $70.07 on Friday. 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 stock has a market capitalization of $217.31 billion, a PE ratio of 28.14, a PEG ratio of 1.28 and a beta of 0.38. AstraZeneca PLC has a 1 year low of $61.24 and a 1 year high of $87.68. The business's 50-day moving average is $70.55 and its 200 day moving average is $70.46.

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

Analyst Ratings Changes

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

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.

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