Financial Gravity Asset Management Inc. Decreases Stock Position in Astrazeneca Plc $AZN

Financial Gravity Asset Management Inc. cut its holdings in Astrazeneca Plc (NYSE:AZN) by 30.2% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 33,313 shares of the company’s stock after selling 14,445 shares during the quarter. Astrazeneca makes up about 1.1% of Financial Gravity Asset Management Inc.’s holdings, making the stock its 24th largest holding. Financial Gravity Asset Management Inc.’s holdings in Astrazeneca were worth $5,846,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Lloyd Advisory Services LLC. purchased a new stake in Astrazeneca in the fourth quarter valued at about $35,000. Basepoint Wealth LLC purchased a new stake in Astrazeneca in the fourth quarter valued at about $44,000. Acumen Wealth Advisors LLC purchased a new stake in Astrazeneca in the fourth quarter valued at about $47,000. Nemes Rush Group LLC raised its stake in Astrazeneca by 162.1% in the fourth quarter. Nemes Rush Group LLC now owns 270 shares of the company’s stock valued at $47,000 after buying an additional 167 shares during the last quarter. Finally, Bangor Savings Bank raised its stake in Astrazeneca by 102.7% in the fourth quarter. Bangor Savings Bank now owns 304 shares of the company’s stock valued at $28,000 after buying an additional 154 shares during the last quarter. 20.35% of the stock is currently owned by hedge funds and other institutional investors.

Astrazeneca Stock Down 1.9%

Shares of AZN opened at $178.79 on Friday. The company has a current ratio of 0.91, a quick ratio of 0.71 and a debt-to-equity ratio of 0.52. Astrazeneca Plc has a 12 month low of $137.23 and a 12 month high of $212.71. The stock’s 50 day moving average is $189.26 and its two-hundred day moving average is $185.98. The firm has a market cap of $277.28 billion, a P/E ratio of 26.85, a PEG ratio of 1.56 and a beta of 0.25.

Astrazeneca (NYSE:AZN) last issued its quarterly earnings data on Wednesday, April 29th. The company reported $2.58 EPS for the quarter, beating the consensus estimate of $2.52 by $0.06. Astrazeneca had a return on equity of 30.86% and a net margin of 17.19%.The company had revenue of $15.29 billion for the quarter, compared to analyst estimates of $14.93 billion. Analysts predict that Astrazeneca Plc will post 9.39 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have commented on AZN shares. Weiss Ratings reiterated a “buy (b)” rating on shares of Astrazeneca in a research note on Monday, June 8th. DZ Bank upgraded Astrazeneca from a “neutral” rating to a “buy” rating in a research note on Wednesday, April 29th. JPMorgan Chase & Co. reiterated a “buy” rating on shares of Astrazeneca in a research note on Tuesday, June 9th. TD Cowen reiterated a “buy” rating on shares of Astrazeneca in a research note on Wednesday, March 18th. Finally, Jefferies Financial Group reiterated a “buy” rating on shares of Astrazeneca in a research note on Tuesday, June 9th. Twelve investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $205.33.

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.