AstraZeneca PLC (NASDAQ:AZN) Stock Position Trimmed by Baron Wealth Management LLC

Baron Wealth Management LLC lowered its position in AstraZeneca PLC (NASDAQ:AZN) by 40.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,243 shares of the company’s stock after selling 2,179 shares during the quarter. Baron Wealth Management LLC’s holdings in AstraZeneca were worth $212,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. McClarren Financial Advisors Inc. raised its stake in AstraZeneca by 320.8% during the 3rd quarter. McClarren Financial Advisors Inc. now owns 324 shares of the company’s stock valued at $25,000 after acquiring an additional 247 shares in the last quarter. Capital Performance Advisors LLP bought a new stake in shares of AstraZeneca during the third quarter valued at about $28,000. Ashton Thomas Securities LLC acquired a new stake in AstraZeneca in the third quarter worth about $45,000. Albion Financial Group UT grew its position in AstraZeneca by 68.9% in the 4th quarter. Albion Financial Group UT now owns 608 shares of the company’s stock valued at $40,000 after buying an additional 248 shares in the last quarter. Finally, Hollencrest Capital Management increased its stake in AstraZeneca by 38.4% during the 3rd quarter. Hollencrest Capital Management now owns 692 shares of the company’s stock valued at $54,000 after buying an additional 192 shares during the period. 20.35% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on AZN. UBS Group upgraded shares of AstraZeneca from a “sell” rating to a “neutral” rating in a report on Wednesday, November 20th. Deutsche Bank Aktiengesellschaft upgraded AstraZeneca from a “sell” rating to a “hold” rating in a research report on Wednesday, November 6th. Two analysts have rated the stock with a hold rating, five have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, AstraZeneca has an average rating of “Buy” and an average price target of $89.75.

AstraZeneca Price Performance

NASDAQ AZN opened at $70.25 on Thursday. AstraZeneca PLC has a 1 year low of $60.47 and a 1 year high of $87.68. The business’s fifty day moving average is $66.83 and its two-hundred day moving average is $73.99. The stock has a market capitalization of $217.85 billion, a P/E ratio of 33.61, a P/E/G ratio of 1.13 and a beta of 0.46. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.71 and a current ratio of 0.93.

AstraZeneca (NASDAQ:AZN) last announced its earnings results on Tuesday, November 12th. The company reported $1.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.01 by $0.03. The company had revenue of $13.57 billion for the quarter, compared to analyst estimates of $13.08 billion. AstraZeneca had a return on equity of 30.01% and a net margin of 12.68%. AstraZeneca’s revenue for the quarter was up 18.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.87 earnings per share. On average, research analysts forecast that AstraZeneca PLC will post 4.12 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.