SCS Capital Management LLC Acquires 142,331 Shares of AstraZeneca PLC $AZN

SCS Capital Management LLC boosted its holdings in shares of AstraZeneca PLC (NASDAQ:AZN) by 341.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 184,048 shares of the company’s stock after acquiring an additional 142,331 shares during the quarter. SCS Capital Management LLC’s holdings in AstraZeneca were worth $12,861,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of AZN. NewSquare Capital LLC grew its stake in shares of AstraZeneca by 149.3% in the second quarter. NewSquare Capital LLC now owns 364 shares of the company’s stock worth $25,000 after purchasing an additional 218 shares during the last quarter. Richardson Financial Services Inc. raised its position in AstraZeneca by 59.8% during the 2nd quarter. Richardson Financial Services Inc. now owns 398 shares of the company’s stock worth $28,000 after purchasing an additional 149 shares during the last quarter. Costello Asset Management INC acquired a new position in AstraZeneca during the 1st quarter worth about $29,000. FSA Wealth Management LLC grew its position in shares of AstraZeneca by 376.0% in the 2nd quarter. FSA Wealth Management LLC now owns 476 shares of the company’s stock valued at $33,000 after buying an additional 376 shares during the last quarter. Finally, VSM Wealth Advisory LLC acquired a new stake in shares of AstraZeneca in the second quarter valued at about $33,000. Institutional investors own 20.35% of the company’s stock.

AstraZeneca Stock Performance

NASDAQ:AZN opened at $90.03 on Friday. The company has a quick ratio of 0.69, a current ratio of 0.88 and a debt-to-equity ratio of 0.54. AstraZeneca PLC has a twelve month low of $61.24 and a twelve month high of $94.01. The company has a fifty day moving average of $85.73 and a 200-day moving average of $78.25. The firm has a market capitalization of $279.22 billion, a P/E ratio of 29.91, a P/E/G ratio of 1.68 and a beta of 0.32.

AstraZeneca (NASDAQ:AZN) last posted its quarterly earnings results on Thursday, November 6th. The company reported $1.19 EPS for the quarter, topping analysts’ consensus estimates of $1.14 by $0.05. AstraZeneca had a net margin of 16.17% and a return on equity of 32.89%. The business had revenue of $15.19 billion during the quarter, compared to analysts’ expectations of $14.75 billion. During the same period last year, the company posted $2.08 earnings per share. The business’s quarterly revenue was up 12.0% on a year-over-year basis. As a group, sell-side analysts anticipate that AstraZeneca PLC will post 4.51 EPS for the current year.

Wall Street Analysts Forecast Growth

AZN has been the topic of several analyst reports. Deutsche Bank Aktiengesellschaft cut AstraZeneca from a “hold” rating to a “sell” rating in a report on Thursday, October 16th. Weiss Ratings restated a “buy (b)” rating on shares of AstraZeneca in a research report on Wednesday, October 8th. Guggenheim reiterated a “buy” rating on shares of AstraZeneca in a research report on Wednesday. Morgan Stanley restated an “overweight” rating and issued a $103.00 target price on shares of AstraZeneca in a report on Wednesday. Finally, Jefferies Financial Group assumed coverage on shares of AstraZeneca in a research report on Monday, October 27th. They set a “buy” rating on the stock. Six investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $91.67.

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.