Verdence Capital Advisors LLC Buys 2,020 Shares of AstraZeneca PLC (NASDAQ:AZN)

Verdence Capital Advisors LLC lifted its position in AstraZeneca PLC (NASDAQ:AZN) by 7.4% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 29,501 shares of the company’s stock after purchasing an additional 2,020 shares during the quarter. Verdence Capital Advisors LLC’s holdings in AstraZeneca were worth $2,298,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in AZN. Martin Investment Management LLC grew its stake in shares of AstraZeneca by 2.8% in the 3rd quarter. Martin Investment Management LLC now owns 284,204 shares of the company’s stock worth $22,571,000 after buying an additional 7,615 shares in the last quarter. Integrated Advisors Network LLC increased its stake in AstraZeneca by 46.6% during the third quarter. Integrated Advisors Network LLC now owns 43,610 shares of the company’s stock worth $3,398,000 after acquiring an additional 13,860 shares during the last quarter. Creative Planning lifted its stake in shares of AstraZeneca by 8.0% in the 3rd quarter. Creative Planning now owns 224,751 shares of the company’s stock valued at $17,510,000 after purchasing an additional 16,692 shares during the last quarter. TD Asset Management Inc boosted its holdings in shares of AstraZeneca by 8.6% in the 1st quarter. TD Asset Management Inc now owns 1,537,410 shares of the company’s stock worth $104,160,000 after purchasing an additional 121,876 shares during the period. Finally, Northcape Wealth Management LLC bought a new position in shares of AstraZeneca during the 2nd quarter valued at approximately $269,000. 20.35% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have weighed in on AZN shares. TD Cowen boosted their price objective on shares of AstraZeneca from $90.00 to $95.00 and gave the company a “buy” rating in a research report on Monday, August 12th. Deutsche Bank Aktiengesellschaft raised shares of AstraZeneca from a “sell” rating to a “hold” rating in a research report on Wednesday. Finally, Erste Group Bank upgraded AstraZeneca from a “hold” rating to a “buy” rating in a research report on Wednesday, September 11th. Two equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, AstraZeneca has a consensus rating of “Buy” and an average price target of $89.75.

AstraZeneca Stock Performance

Shares of AZN stock opened at $64.49 on Friday. The company’s 50 day moving average is $77.07 and its 200 day moving average is $78.56. The company has a quick ratio of 0.69, a current ratio of 0.89 and a debt-to-equity ratio of 0.69. The firm has a market cap of $199.96 billion, a price-to-earnings ratio of 31.15, a PEG ratio of 1.19 and a beta of 0.47. AstraZeneca PLC has a 52-week low of $60.47 and a 52-week high of $87.68.

AstraZeneca Company 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.