Elevation Point Wealth Partners LLC Boosts Holdings in AstraZeneca PLC (NASDAQ:AZN)

Elevation Point Wealth Partners LLC raised its holdings in shares of AstraZeneca PLC (NASDAQ:AZN) by 23.3% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 55,075 shares of the company’s stock after acquiring an additional 10,422 shares during the quarter. Elevation Point Wealth Partners LLC’s holdings in AstraZeneca were worth $4,048,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of AZN. Stanley Laman Group Ltd. grew its holdings in AstraZeneca by 19.5% in the first quarter. Stanley Laman Group Ltd. now owns 58,849 shares of the company’s stock valued at $4,325,000 after purchasing an additional 9,614 shares during the period. Compagnie Lombard Odier SCmA acquired a new position in AstraZeneca during the first quarter valued at approximately $175,000. Simon Quick Advisors LLC lifted its position in AstraZeneca by 42.8% during the first quarter. Simon Quick Advisors LLC now owns 7,969 shares of the company’s stock valued at $586,000 after buying an additional 2,390 shares in the last quarter. McKinley Carter Wealth Services Inc. lifted its position in shares of AstraZeneca by 6.7% during the first quarter. McKinley Carter Wealth Services Inc. now owns 5,232 shares of the company’s stock worth $385,000 after purchasing an additional 328 shares in the last quarter. Finally, Focus Financial Network Inc. lifted its position in shares of AstraZeneca by 4.6% during the first quarter. Focus Financial Network Inc. now owns 6,662 shares of the company’s stock worth $490,000 after purchasing an additional 293 shares in the last quarter. 20.35% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

AstraZeneca Stock Down 0.8%

Shares of NASDAQ:AZN opened at $74.42 on Friday. The company has a current ratio of 0.93, a quick ratio of 0.74 and a debt-to-equity ratio of 0.65. AstraZeneca PLC has a 12-month low of $61.24 and a 12-month high of $87.68. The company has a fifty day simple moving average of $69.81 and a 200 day simple moving average of $70.26. The firm has a market cap of $230.80 billion, a PE ratio of 32.93, a price-to-earnings-growth ratio of 1.42 and a beta of 0.38.

AstraZeneca (NASDAQ:AZN) last released 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. AstraZeneca had a net margin of 13.01% and a return on equity of 32.23%. The firm had revenue of $13.59 billion during the quarter, compared to analyst estimates of $13.71 billion. During the same quarter in the previous year, the firm earned $2.06 earnings per share. The firm’s revenue for the quarter was up 7.2% compared to the same quarter last year. On average, equities research analysts anticipate that AstraZeneca PLC will post 4.51 EPS for the current fiscal year.

About AstraZeneca

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.