BKM Wealth Management LLC Trims Stock Holdings in AstraZeneca PLC (NASDAQ:AZN)

BKM Wealth Management LLC cut its holdings in shares of AstraZeneca PLC (NASDAQ:AZN) by 83.6% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 6,550 shares of the company’s stock after selling 33,385 shares during the quarter. BKM Wealth Management LLC’s holdings in AstraZeneca were worth $510,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in AZN. Price T Rowe Associates Inc. MD boosted its stake in AstraZeneca by 17.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 61,271,974 shares of the company’s stock valued at $4,151,177,000 after acquiring an additional 9,002,450 shares during the last quarter. Swedbank AB bought a new position in shares of AstraZeneca in the first quarter worth $186,127,000. Manning & Napier Advisors LLC acquired a new position in shares of AstraZeneca during the second quarter valued at $188,476,000. Hsbc Holdings PLC increased its stake in AstraZeneca by 750.3% during the 2nd quarter. Hsbc Holdings PLC now owns 1,283,274 shares of the company’s stock valued at $100,523,000 after buying an additional 1,132,362 shares during the period. Finally, Farallon Capital Management LLC raised its holdings in AstraZeneca by 65.1% during the second quarter. Farallon Capital Management LLC now owns 2,409,718 shares of the company’s stock worth $187,934,000 after purchasing an additional 950,000 shares in the last quarter. 20.35% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the company. Erste Group Bank upgraded AstraZeneca from a “hold” rating to a “buy” rating in a research report on Wednesday, September 11th. Deutsche Bank Aktiengesellschaft cut shares of AstraZeneca from a “hold” rating to a “sell” rating in a research report on Friday, September 13th. Finally, TD Cowen lifted their price target on AstraZeneca from $90.00 to $95.00 and gave the company a “buy” rating in a report on Monday, August 12th. One analyst has rated the stock with a sell rating, one has issued a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $89.75.

AstraZeneca Stock Down 1.1 %

AZN stock opened at $75.05 on Friday. AstraZeneca PLC has a 1 year low of $60.47 and a 1 year high of $87.68. The company has a current ratio of 0.89, a quick ratio of 0.69 and a debt-to-equity ratio of 0.69. The company has a fifty day simple moving average of $80.40 and a 200 day simple moving average of $78.44. The firm has a market cap of $232.69 billion, a PE ratio of 36.79, a PEG ratio of 1.43 and a beta of 0.46.

AstraZeneca (NASDAQ:AZN) last announced its earnings results on Thursday, July 25th. The company reported $0.99 EPS for the quarter, topping the consensus estimate of $0.98 by $0.01. The firm had revenue of $12.45 billion for the quarter, compared to the consensus estimate of $12.62 billion. AstraZeneca had a net margin of 13.11% and a return on equity of 29.34%. The business’s quarterly revenue was up 9.1% on a year-over-year basis. During the same quarter last year, the firm posted $1.08 EPS. Sell-side analysts anticipate that AstraZeneca PLC will post 4.07 EPS 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.