Astrazeneca Plc $AZN Stock Sold by Covenant Asset Management LLC

Covenant Asset Management LLC trimmed its position in Astrazeneca Plc (NYSE:AZN) by 96.6% during the third quarter, Holdings Channel reports. The firm owned 1,443 shares of the company’s stock after selling 40,431 shares during the quarter. Covenant Asset Management LLC’s holdings in Astrazeneca were worth $233,000 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of the company. Triumph Capital Management grew its holdings in Astrazeneca by 32.6% during the third quarter. Triumph Capital Management now owns 252 shares of the company’s stock worth $41,000 after purchasing an additional 62 shares during the period. Riversedge Advisors LLC increased its position in 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 during the last quarter. Veery Capital LLC raised its stake in Astrazeneca by 3.9% in the third quarter. Veery Capital LLC now owns 1,857 shares of the company’s stock valued at $300,000 after buying an additional 70 shares during the period. Signal Advisors Wealth LLC raised its stake in Astrazeneca by 2.7% in the third quarter. Signal Advisors Wealth LLC now owns 2,778 shares of the company’s stock valued at $448,000 after buying an additional 72 shares during the period. Finally, Rosenberg Matthew Hamilton raised its stake in Astrazeneca by 3.8% in the third 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 period. 20.35% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

AZN has been the subject of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft raised Astrazeneca from a “sell” rating to a “hold” rating in a research report on Tuesday, September 15th. Citigroup reissued a “buy” rating on shares of Astrazeneca in a report on Tuesday, October 6th. HSBC cut Astrazeneca from a “buy” rating to a “hold” rating in a research note on Monday, July 13th. JPMorgan Chase & Co. restated a “buy” rating on shares of Astrazeneca in a research note on Tuesday, June 30th. Finally, Wall Street Zen downgraded shares of Astrazeneca from a “buy” rating to a “hold” rating in a research report on Sunday. Fifteen equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $206.67.

Astrazeneca Stock Performance

NYSE AZN opened at $162.21 on Thursday. The company has a quick ratio of 0.67, a current ratio of 0.89 and a debt-to-equity ratio of 0.47. The company has a market capitalization of $251.57 billion, a P/E ratio of 24.25, a P/E/G ratio of 1.32 and a beta of 0.27. Astrazeneca Plc has a 12-month low of $153.41 and a 12-month high of $212.71. The firm has a 50-day moving average price of $161.96 and a two-hundred day moving average price of $176.37.

Astrazeneca (NYSE:AZN) last announced its earnings results on Monday, July 27th. The company reported $2.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.50 by $0.13. Astrazeneca had a net margin of 17.02% and a return on equity of 31.45%. 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 prior year, the business posted $2.17 EPS. The business’s revenue was up 6.4% compared to the same quarter last year. Analysts anticipate that Astrazeneca Plc will post 9.38 earnings per share for the current year.

Astrazeneca Profile

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.