Azzad Asset Management Inc. ADV Grows Position in AstraZeneca PLC (NASDAQ:AZN)

Azzad Asset Management Inc. ADV lifted its holdings in shares of AstraZeneca PLC (NASDAQ:AZN) by 3.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 62,251 shares of the company’s stock after buying an additional 1,964 shares during the period. Azzad Asset Management Inc. ADV’s holdings in AstraZeneca were worth $4,218,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Cerity Partners LLC boosted its position in AstraZeneca by 113.0% in the fourth quarter. Cerity Partners LLC now owns 95,677 shares of the company’s stock worth $6,444,000 after purchasing an additional 50,750 shares during the last quarter. Raymond James Financial Services Advisors Inc. raised its stake in shares of AstraZeneca by 43.7% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 163,011 shares of the company’s stock worth $10,979,000 after buying an additional 49,541 shares during the period. Assetmark Inc. raised its stake in shares of AstraZeneca by 11.2% in the fourth quarter. Assetmark Inc. now owns 154,906 shares of the company’s stock worth $10,433,000 after buying an additional 15,642 shares during the period. Manning & Napier Group LLC raised its stake in shares of AstraZeneca by 281.2% in the fourth quarter. Manning & Napier Group LLC now owns 2,779,212 shares of the company’s stock worth $187,180,000 after buying an additional 2,050,064 shares during the period. Finally, International Assets Investment Management LLC bought a new position in shares of AstraZeneca in the fourth quarter worth about $10,395,000. 20.35% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on AZN. Deutsche Bank Aktiengesellschaft raised AstraZeneca from a “sell” rating to a “hold” rating in a research note on Tuesday, April 16th. Argus raised their price objective on AstraZeneca from $80.00 to $85.00 and gave the stock a “buy” rating in a research note on Thursday, May 30th. Citigroup raised AstraZeneca to a “strong-buy” rating in a research note on Monday, June 24th. The Goldman Sachs Group initiated coverage on AstraZeneca in a research note on Thursday, May 30th. They set a “buy” rating and a $97.00 target price on the stock. Finally, BMO Capital Markets lifted their target price on AstraZeneca from $80.00 to $82.00 and gave the company an “outperform” rating in a research note on Friday, April 26th. Three analysts have rated the stock with a hold rating, six have issued a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $88.00.

AstraZeneca Price Performance

NASDAQ AZN traded down $0.07 during trading on Wednesday, hitting $76.92. 946,107 shares of the stock traded hands, compared to its average volume of 5,513,599. The company has a market capitalization of $238.49 billion, a P/E ratio of 37.74, a price-to-earnings-growth ratio of 1.40 and a beta of 0.45. The firm has a 50-day simple moving average of $77.80 and a 200-day simple moving average of $70.59. The company has a quick ratio of 0.70, a current ratio of 0.89 and a debt-to-equity ratio of 0.73. AstraZeneca PLC has a 12-month low of $60.47 and a 12-month high of $80.86.

AstraZeneca (NASDAQ:AZN) last released its quarterly earnings results on Thursday, April 25th. The company reported $1.03 earnings per share for the quarter, beating the consensus estimate of $0.95 by $0.08. The business had revenue of $12.68 billion during the quarter, compared to analysts’ expectations of $11.92 billion. AstraZeneca had a return on equity of 30.42% and a net margin of 13.30%. As a group, analysts predict that AstraZeneca PLC will post 4.04 EPS for the current 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.