Kennedy Capital Management LLC Acquires New Position in AstraZeneca PLC (NASDAQ:AZN)

Kennedy Capital Management LLC purchased a new stake in shares of AstraZeneca PLC (NASDAQ:AZN) during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 13,488 shares of the company’s stock, valued at approximately $914,000.

A number of other hedge funds have also recently made changes to their positions in the business. Able Wealth Management LLC purchased a new stake in shares of AstraZeneca during the fourth quarter worth about $27,000. Pin Oak Investment Advisors Inc. raised its holdings in AstraZeneca by 468.4% in the fourth quarter. Pin Oak Investment Advisors Inc. now owns 449 shares of the company’s stock worth $30,000 after purchasing an additional 370 shares in the last quarter. RFP Financial Group LLC lifted its position in AstraZeneca by 56.3% during the first quarter. RFP Financial Group LLC now owns 494 shares of the company’s stock valued at $33,000 after buying an additional 178 shares during the period. Northwest Financial Advisors bought a new stake in shares of AstraZeneca during the 4th quarter valued at $34,000. Finally, Jones Financial Companies Lllp grew its position in shares of AstraZeneca by 86.7% in the 4th quarter. Jones Financial Companies Lllp now owns 506 shares of the company’s stock worth $34,000 after buying an additional 235 shares during the period. 20.35% of the stock is currently owned by institutional investors.

AstraZeneca Stock Up 1.6 %

Shares of AZN stock opened at $79.15 on Thursday. The stock has a market cap of $245.41 billion, a P/E ratio of 38.80, a PEG ratio of 1.47 and a beta of 0.45. The company’s fifty day simple moving average is $78.55 and its two-hundred day simple moving average is $72.13. The company has a quick ratio of 0.69, a current ratio of 0.89 and a debt-to-equity ratio of 0.69. AstraZeneca PLC has a 52 week low of $60.47 and a 52 week high of $80.86.

AstraZeneca (NASDAQ:AZN) last issued its quarterly earnings data on Thursday, July 25th. The company reported $0.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.98 by $0.01. AstraZeneca had a return on equity of 29.34% and a net margin of 13.11%. The business had revenue of $12.45 billion for the quarter, compared to analysts’ expectations of $12.62 billion. During the same period in the prior year, the firm earned $1.08 EPS. The company’s revenue for the quarter was up 9.1% on a year-over-year basis. Analysts predict that AstraZeneca PLC will post 4.05 EPS for the current fiscal year.

AstraZeneca Cuts Dividend

The business also recently declared a Semi-Annual dividend, which will be paid on Monday, September 9th. Investors of record on Friday, August 9th will be given a $0.49 dividend. The ex-dividend date is Friday, August 9th. This represents a yield of 1.8%. AstraZeneca’s dividend payout ratio is currently 94.61%.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on AZN shares. The Goldman Sachs Group began coverage on shares of AstraZeneca in a report on Thursday, May 30th. They set a “buy” rating and a $97.00 target price for the company. Argus increased their target price on AstraZeneca from $80.00 to $85.00 and gave the company a “buy” rating in a research note on Thursday, May 30th. BMO Capital Markets lifted their target price on AstraZeneca from $80.00 to $82.00 and gave the stock an “outperform” rating in a report on Friday, April 26th. Barclays raised AstraZeneca to a “strong-buy” rating in a report on Monday, June 24th. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of 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, five have issued a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat, AstraZeneca presently has a consensus rating of “Buy” and a consensus target price of $88.00.

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.