Cresset Asset Management LLC Cuts Stock Holdings in AstraZeneca PLC (NASDAQ:AZN)

Cresset Asset Management LLC decreased its position in shares of AstraZeneca PLC (NASDAQ:AZN) by 81.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 19,412 shares of the company’s stock after selling 83,234 shares during the quarter. Cresset Asset Management LLC’s holdings in AstraZeneca were worth $1,272,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Banque Transatlantique SA purchased a new stake in AstraZeneca in the fourth quarter worth approximately $26,000. Albion Financial Group UT boosted its holdings in AstraZeneca by 68.9% in the fourth quarter. Albion Financial Group UT now owns 608 shares of the company’s stock worth $40,000 after purchasing an additional 248 shares during the last quarter. Crews Bank & Trust purchased a new stake in AstraZeneca in the fourth quarter worth approximately $55,000. Golden State Wealth Management LLC purchased a new stake in AstraZeneca in the fourth quarter worth approximately $55,000. Finally, Newbridge Financial Services Group Inc. purchased a new stake in AstraZeneca in the fourth quarter worth approximately $55,000. Hedge funds and other institutional investors own 20.35% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. BNP Paribas initiated coverage on shares of AstraZeneca in a report on Tuesday, April 15th. They issued an “outperform” rating and a $75.00 target price on the stock. Morgan Stanley initiated coverage on shares of AstraZeneca in a research note on Wednesday, February 12th. They set an “overweight” rating on the stock. Finally, UBS Group upgraded shares of AstraZeneca from a “neutral” rating to a “buy” rating in a research note on Thursday, February 13th. One equities research analyst has rated the stock with a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, AstraZeneca currently has a consensus rating of “Buy” and an average price target of $88.00.

AstraZeneca Stock Up 0.4%

Shares of AZN stock opened at $67.57 on Monday. The company has a market capitalization of $209.55 billion, a price-to-earnings ratio of 29.90, a PEG ratio of 1.42 and a beta of 0.40. AstraZeneca PLC has a one year low of $61.24 and a one year high of $87.68. The company’s fifty day moving average price is $71.33 and its 200-day moving average price is $69.65. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.93 and a quick ratio of 0.74.

AstraZeneca (NASDAQ:AZN) last announced its quarterly earnings data on Tuesday, April 29th. The company reported $1.24 EPS for the quarter, beating the consensus estimate of $1.10 by $0.14. The firm had revenue of $13.59 billion for the quarter, compared to the consensus estimate of $13.71 billion. AstraZeneca had a net margin of 13.01% and a return on equity of 32.23%. The company’s revenue was up 7.2% on a year-over-year basis. During the same period last year, the firm earned $2.06 EPS. Sell-side analysts expect that AstraZeneca PLC will post 4.51 EPS 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.