Norden Group LLC Makes New Investment in AstraZeneca PLC (NASDAQ:AZN)

Norden Group LLC acquired a new position in AstraZeneca PLC (NASDAQ:AZN) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 45,084 shares of the company’s stock, valued at approximately $3,055,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the company. Toronto Dominion Bank raised its stake in shares of AstraZeneca by 100.6% during the third quarter. Toronto Dominion Bank now owns 8,361 shares of the company’s stock valued at $566,000 after purchasing an additional 4,193 shares in the last quarter. Lido Advisors LLC raised its stake in shares of AstraZeneca by 2.2% during the third quarter. Lido Advisors LLC now owns 15,455 shares of the company’s stock valued at $1,047,000 after purchasing an additional 327 shares in the last quarter. Seven Eight Capital LP raised its stake in shares of AstraZeneca by 76.7% during the third quarter. Seven Eight Capital LP now owns 15,593 shares of the company’s stock valued at $1,056,000 after purchasing an additional 6,768 shares in the last quarter. Dana Investment Advisors Inc. raised its stake in shares of AstraZeneca by 43.9% during the third quarter. Dana Investment Advisors Inc. now owns 10,907 shares of the company’s stock valued at $739,000 after purchasing an additional 3,326 shares in the last quarter. Finally, iA Global Asset Management Inc. raised its stake in shares of AstraZeneca by 33.0% during the third quarter. iA Global Asset Management Inc. now owns 48,558 shares of the company’s stock valued at $3,288,000 after purchasing an additional 12,054 shares in the last quarter. Institutional investors and hedge funds own 20.35% of the company’s stock.

Analyst Upgrades and Downgrades

AZN has been the topic of several research reports. The Goldman Sachs Group initiated coverage on shares of AstraZeneca in a research report on Thursday, May 30th. They issued a “buy” rating and a $97.00 price target on the stock. Argus boosted their price target on shares of AstraZeneca from $80.00 to $85.00 and gave the stock a “buy” rating in a research report on Thursday, May 30th. Barclays upgraded shares of AstraZeneca to a “strong-buy” rating in a research report on Monday, June 24th. BMO Capital Markets lifted their price target on AstraZeneca from $80.00 to $82.00 and gave the stock an “outperform” rating in a research note on Friday, April 26th. Finally, Deutsche Bank Aktiengesellschaft raised AstraZeneca from a “sell” rating to a “hold” rating in a research note on Tuesday, April 16th. Three investment 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 stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $88.00.

AstraZeneca Trading Down 0.2 %

Shares of AZN opened at $76.80 on Friday. The company has a current ratio of 0.89, a quick ratio of 0.70 and a debt-to-equity ratio of 0.73. AstraZeneca PLC has a 1-year low of $60.47 and a 1-year high of $80.86. The business’s 50-day moving average price is $77.95 and its 200 day moving average price is $70.68. The stock has a market capitalization of $238.12 billion, a P/E ratio of 37.65, a P/E/G ratio of 1.38 and a beta of 0.45.

AstraZeneca (NASDAQ:AZN) last released its 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. AstraZeneca had a return on equity of 30.42% and a net margin of 13.30%. The company had revenue of $12.68 billion for the quarter, compared to analysts’ expectations of $11.92 billion. Analysts expect that AstraZeneca PLC will post 4.04 earnings per share for the current year.

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.