Summit Trail Advisors LLC Trims Stake in AstraZeneca PLC (NASDAQ:AZN)

Summit Trail Advisors LLC cut its position in shares of AstraZeneca PLC (NASDAQ:AZN) by 10.7% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 7,675 shares of the company’s stock after selling 922 shares during the period. Summit Trail Advisors LLC’s holdings in AstraZeneca were worth $598,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Stratos Wealth Advisors LLC boosted its position in shares of AstraZeneca by 2.0% during the third quarter. Stratos Wealth Advisors LLC now owns 6,699 shares of the company’s stock valued at $522,000 after buying an additional 133 shares during the period. Bruce G. Allen Investments LLC grew its position in AstraZeneca by 19.1% in the 2nd quarter. Bruce G. Allen Investments LLC now owns 860 shares of the company’s stock valued at $67,000 after acquiring an additional 138 shares during the last quarter. Carnegie Investment Counsel increased its stake in AstraZeneca by 0.8% in the second quarter. Carnegie Investment Counsel now owns 17,269 shares of the company’s stock worth $1,347,000 after purchasing an additional 138 shares during the period. Crumly & Associates Inc. lifted its position in shares of AstraZeneca by 2.2% during the third quarter. Crumly & Associates Inc. now owns 6,644 shares of the company’s stock worth $518,000 after purchasing an additional 143 shares during the last quarter. Finally, CANADA LIFE ASSURANCE Co boosted its stake in shares of AstraZeneca by 40.6% during the first quarter. CANADA LIFE ASSURANCE Co now owns 506 shares of the company’s stock valued at $34,000 after purchasing an additional 146 shares during the period. 20.35% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. TD Cowen lifted their price objective on shares of AstraZeneca from $90.00 to $95.00 and gave the company a “buy” rating in a report on Monday, August 12th. Deutsche Bank Aktiengesellschaft raised shares of AstraZeneca from a “sell” rating to a “hold” rating in a research note on Wednesday, November 6th. UBS Group raised AstraZeneca from a “sell” rating to a “neutral” rating in a research note on Wednesday, November 20th. Finally, Erste Group Bank raised AstraZeneca from a “hold” rating to a “buy” rating in a research report on Wednesday, September 11th. Three 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’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $89.75.

AstraZeneca Stock Performance

Shares of NASDAQ:AZN opened at $66.40 on Tuesday. The company has a quick ratio of 0.71, a current ratio of 0.93 and a debt-to-equity ratio of 0.71. The company has a market capitalization of $205.88 billion, a price-to-earnings ratio of 31.77, a price-to-earnings-growth ratio of 1.20 and a beta of 0.47. The firm has a 50 day moving average of $73.19 and a 200 day moving average of $77.72. AstraZeneca PLC has a 52 week low of $60.47 and a 52 week high of $87.68.

AstraZeneca (NASDAQ:AZN) last released its quarterly earnings results on Tuesday, November 12th. The company reported $1.04 EPS for the quarter, topping the consensus estimate of $1.01 by $0.03. AstraZeneca had a return on equity of 30.01% and a net margin of 12.68%. The firm had revenue of $13.57 billion during the quarter, compared to analyst estimates of $13.08 billion. During the same period in the previous year, the company posted $0.87 EPS. The business’s revenue for the quarter was up 18.0% compared to the same quarter last year. On average, sell-side analysts predict that AstraZeneca PLC will post 4.1 earnings per share for the current fiscal year.

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.