Monte Financial Group LLC Sells 2,071 Shares of AstraZeneca PLC (NASDAQ:AZN)

Monte Financial Group LLC lowered its position in shares of AstraZeneca PLC (NASDAQ:AZN) by 8.4% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 22,724 shares of the company’s stock after selling 2,071 shares during the quarter. Monte Financial Group LLC’s holdings in AstraZeneca were worth $1,770,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Stratos Wealth Advisors LLC boosted its holdings in AstraZeneca by 2.0% in the 3rd quarter. Stratos Wealth Advisors LLC now owns 6,699 shares of the company’s stock worth $522,000 after buying an additional 133 shares during the period. Bruce G. Allen Investments LLC grew its position in shares of AstraZeneca by 19.1% during the second quarter. Bruce G. Allen Investments LLC now owns 860 shares of the company’s stock worth $67,000 after purchasing an additional 138 shares in the last quarter. Carnegie Investment Counsel raised its stake in AstraZeneca by 0.8% during the 2nd quarter. Carnegie Investment Counsel now owns 17,269 shares of the company’s stock valued at $1,347,000 after purchasing an additional 138 shares during the period. CANADA LIFE ASSURANCE Co lifted its holdings in AstraZeneca by 40.6% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 506 shares of the company’s stock worth $34,000 after purchasing an additional 146 shares in the last quarter. Finally, Sunpointe LLC boosted its stake in AstraZeneca by 4.5% in the 2nd quarter. Sunpointe LLC now owns 3,419 shares of the company’s stock worth $267,000 after purchasing an additional 147 shares during the period. 20.35% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

AZN has been the topic of several research analyst reports. Erste Group Bank raised shares of AstraZeneca from a “hold” rating to a “buy” rating in a report on Wednesday, September 11th. Deutsche Bank Aktiengesellschaft cut shares of AstraZeneca from a “hold” rating to a “sell” rating in a research note on Friday, September 13th. Finally, TD Cowen raised their price objective on AstraZeneca from $90.00 to $95.00 and gave the company a “buy” rating in a research report on Monday, August 12th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, seven have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $89.75.

AstraZeneca Price Performance

AZN stock opened at $76.95 on Thursday. The company has a fifty day simple moving average of $80.91 and a two-hundred day simple moving average of $78.42. AstraZeneca PLC has a 52 week low of $60.47 and a 52 week high of $87.68. 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 capitalization of $238.59 billion, a P/E ratio of 37.17, a price-to-earnings-growth ratio of 1.43 and a beta of 0.46.

AstraZeneca (NASDAQ:AZN) last announced its quarterly earnings results on Thursday, July 25th. The company reported $0.99 EPS for the quarter, beating analysts’ consensus estimates of $0.98 by $0.01. AstraZeneca had a net margin of 13.11% and a return on equity of 29.34%. The firm had revenue of $12.45 billion during the quarter, compared to the consensus estimate of $12.62 billion. During the same quarter last year, the firm earned $1.08 EPS. The firm’s revenue for the quarter was up 9.1% compared to the same quarter last year. Analysts anticipate that AstraZeneca PLC will post 4.07 earnings per share for the current fiscal 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.