Kovack Advisors Inc. Buys Shares of 2,901 AstraZeneca PLC (NASDAQ:AZN)

Kovack Advisors Inc. bought a new stake in AstraZeneca PLC (NASDAQ:AZN) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 2,901 shares of the company’s stock, valued at approximately $213,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. SFE Investment Counsel acquired a new position in shares of AstraZeneca during the first quarter worth about $523,000. Argonautica Private Wealth Management Inc. boosted its position in shares of AstraZeneca by 16.1% during the first quarter. Argonautica Private Wealth Management Inc. now owns 4,563 shares of the company’s stock worth $335,000 after buying an additional 633 shares during the period. Holistic Financial Partners acquired a new position in shares of AstraZeneca during the first quarter worth about $214,000. Carnegie Investment Counsel boosted its position in shares of AstraZeneca by 4.0% during the first quarter. Carnegie Investment Counsel now owns 17,147 shares of the company’s stock worth $1,260,000 after buying an additional 655 shares during the period. Finally, Pinnacle Associates Ltd. boosted its position in shares of AstraZeneca by 4.1% during the first quarter. Pinnacle Associates Ltd. now owns 31,183 shares of the company’s stock worth $2,292,000 after buying an additional 1,225 shares during the period. 20.35% of the stock is owned by institutional investors and hedge funds.

AstraZeneca Stock Performance

Shares of NASDAQ AZN opened at $72.66 on Friday. The stock has a 50 day moving average price of $71.15 and a 200 day moving average price of $71.14. AstraZeneca PLC has a 52 week low of $61.24 and a 52 week high of $87.68. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.70 and a current ratio of 0.90. The stock has a market capitalization of $225.34 billion, a PE ratio of 29.18, a price-to-earnings-growth ratio of 1.34 and a beta of 0.37.

AstraZeneca (NASDAQ:AZN) last issued its quarterly earnings results on Tuesday, April 29th. The company reported $1.24 EPS for the quarter, beating the consensus estimate of $1.10 by $0.14. AstraZeneca had a return on equity of 33.14% and a net margin of 14.14%. The firm had revenue of $13.59 billion during the quarter, compared to analysts’ expectations of $13.71 billion. During the same period in the prior year, the firm posted $2.06 earnings per share. The business’s quarterly revenue was up 7.2% compared to the same quarter last year. Analysts predict that AstraZeneca PLC will post 4.51 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

AZN has been the subject of several recent research reports. BNP Paribas initiated coverage on AstraZeneca in a research report on Tuesday, April 15th. They set an “outperform” rating and a $75.00 price objective for the company. Berenberg Bank set a $97.00 price objective on AstraZeneca in a research report on Wednesday, July 9th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, AstraZeneca currently has an average rating of “Moderate Buy” and an average target price of $89.00.

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.