Astrazeneca Plc $AZN Shares Sold by Covenant Asset Management LLC

by · The Markets Daily

Covenant Asset Management LLC lessened its position in shares of Astrazeneca Plc (NYSE:AZN – Free Report) by 96.6% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,443 shares of the company’s stock after selling 40,431 shares during the period. Covenant Asset Management LLC’s holdings in Astrazeneca were worth $233,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the company. Triumph Capital Management lifted its holdings in shares of Astrazeneca by 32.6% in the third quarter. Triumph Capital Management now owns 252 shares of the company’s stock valued at $41,000 after purchasing an additional 62 shares in the last quarter. Riversedge Advisors LLC grew its holdings in shares of Astrazeneca by 2.9% during the third quarter. Riversedge Advisors LLC now owns 2,347 shares of the company’s stock worth $379,000 after buying an additional 67 shares in the last quarter. Veery Capital LLC grew its holdings in shares of Astrazeneca by 3.9% during the third quarter. Veery Capital LLC now owns 1,857 shares of the company’s stock worth $300,000 after buying an additional 70 shares in the last quarter. Signal Advisors Wealth LLC grew its holdings in shares of Astrazeneca by 2.7% during the third quarter. Signal Advisors Wealth LLC now owns 2,778 shares of the company’s stock worth $448,000 after buying an additional 72 shares in the last quarter. Finally, Rosenberg Matthew Hamilton raised its position in Astrazeneca by 3.8% in the 3rd quarter. Rosenberg Matthew Hamilton now owns 2,129 shares of the company’s stock valued at $344,000 after buying an additional 78 shares during the last quarter. Institutional investors own 20.35% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have commented on the company. Royal Bank Of Canada began coverage on Astrazeneca in a research note on Tuesday, September 8th. They issued an “outperform” rating on the stock. Wall Street Zen cut shares of Astrazeneca from a “buy” rating to a “hold” rating in a report on Sunday. Zacks Research cut shares of Astrazeneca from a “hold” rating to a “strong sell” rating in a report on Monday, September 14th. Nordea Equity Research raised shares of Astrazeneca from a “sell” rating to a “buy” rating in a research report on Tuesday. Finally, HSBC lowered shares of Astrazeneca from a “buy” rating to a “hold” rating in a research note on Monday, July 13th. Fifteen analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $206.67.

Get Our Latest Analysis on Astrazeneca

Astrazeneca Stock Performance

Shares of NYSE AZN opened at $162.21 on Thursday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.67 and a current ratio of 0.89. The stock has a 50 day moving average price of $161.96 and a 200 day moving average price of $176.37. The stock has a market capitalization of $251.57 billion, a PE ratio of 24.25, a price-to-earnings-growth ratio of 1.32 and a beta of 0.27. Astrazeneca Plc has a 52 week low of $153.41 and a 52 week high of $212.71.

Astrazeneca (NYSE:AZN – Get Free Report) last posted its quarterly earnings results on Monday, July 27th. The company reported $2.63 earnings per share for the quarter, topping the consensus estimate of $2.50 by $0.13. Astrazeneca had a return on equity of 31.45% and a net margin of 17.02%. The firm had revenue of $15.38 billion for the quarter, compared to analyst estimates of $15.44 billion. During the same quarter in the previous year, the firm earned $2.17 EPS. The business’s quarterly revenue was up 6.4% on a year-over-year basis. Analysts predict that Astrazeneca Plc will post 9.38 earnings per share for the current fiscal year.

Astrazeneca Profile

(Free Report)

AstraZeneca PLC is a global biopharmaceutical company headquartered in Cambridge, United Kingdom. Its research, development and commercial operations focus on prescription medicines for serious and chronic diseases, with an emphasis on discovering and delivering innovative therapies rather than operating as a diversified healthcare conglomerate.

The company’s principal therapeutic areas include oncology; cardiovascular, renal and metabolic diseases; respiratory and immunological conditions; and rare diseases.

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