Exchange Traded Concepts LLC Trims Stock Holdings in AstraZeneca PLC (NASDAQ:AZN)

Exchange Traded Concepts LLC lowered its position in AstraZeneca PLC (NASDAQ:AZN) by 3.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 25,970 shares of the company’s stock after selling 1,009 shares during the quarter. Exchange Traded Concepts LLC’s holdings in AstraZeneca were worth $1,909,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC lifted its stake in AstraZeneca by 153.5% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 153,695 shares of the company’s stock valued at $10,125,000 after buying an additional 93,071 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of AstraZeneca by 1.1% in the fourth quarter. Geode Capital Management LLC now owns 498,831 shares of the company’s stock valued at $32,683,000 after purchasing an additional 5,384 shares during the period. Dorsey & Whitney Trust CO LLC increased its holdings in shares of AstraZeneca by 0.5% in the fourth quarter. Dorsey & Whitney Trust CO LLC now owns 35,300 shares of the company’s stock valued at $2,313,000 after purchasing an additional 189 shares during the period. Brandywine Global Investment Management LLC acquired a new position in shares of AstraZeneca in the fourth quarter valued at approximately $28,071,000. Finally, Farther Finance Advisors LLC increased its holdings in shares of AstraZeneca by 13.1% in the first quarter. Farther Finance Advisors LLC now owns 6,083 shares of the company’s stock valued at $442,000 after purchasing an additional 706 shares during the period. Hedge funds and other institutional investors own 20.35% of the company’s stock.

AstraZeneca Trading Down 3.5%

Shares of AZN stock opened at $70.97 on Wednesday. The business’s fifty day moving average price is $70.07 and its 200 day moving average price is $70.35. AstraZeneca PLC has a 1-year low of $61.24 and a 1-year high of $87.68. The firm has a market capitalization of $220.10 billion, a PE ratio of 28.50, a P/E/G ratio of 1.35 and a beta of 0.38. 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) last announced its quarterly earnings results 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. AstraZeneca had a return on equity of 33.14% and a net margin of 14.14%. The business had revenue of $13.59 billion during the quarter, compared to analysts’ expectations of $13.71 billion. During the same quarter last year, the business posted $2.06 earnings per share. The business’s revenue for the quarter was up 7.2% on a year-over-year basis. As a group, sell-side analysts forecast that AstraZeneca PLC will post 4.51 EPS for the current fiscal year.

Analysts Set New Price Targets

Separately, BNP Paribas assumed coverage on AstraZeneca in a report on Tuesday, April 15th. They issued an “outperform” rating and a $75.00 target price on the stock. One investment analyst has rated the stock with a hold rating, five have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, AstraZeneca has a consensus rating of “Buy” and a consensus price target 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.