Financial Gravity Companies Inc. Buys New Stake in AstraZeneca PLC $AZN

Financial Gravity Companies Inc. purchased a new position in shares of AstraZeneca PLC (NASDAQ:AZN) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 29,555 shares of the company’s stock, valued at approximately $2,065,000.

Other hedge funds also recently added to or reduced their stakes in the company. MTM Investment Management LLC acquired a new stake in shares of AstraZeneca during the second quarter worth approximately $59,000. Itau Unibanco Holding S.A. boosted its stake in AstraZeneca by 4.6% during the 2nd quarter. Itau Unibanco Holding S.A. now owns 7,381 shares of the company’s stock valued at $516,000 after acquiring an additional 324 shares during the last quarter. Kingsview Wealth Management LLC boosted its stake in AstraZeneca by 3.4% during the 2nd quarter. Kingsview Wealth Management LLC now owns 12,491 shares of the company’s stock valued at $873,000 after acquiring an additional 413 shares during the last quarter. Ontario Teachers Pension Plan Board acquired a new position in AstraZeneca during the 2nd quarter worth $96,936,000. Finally, Avantax Advisory Services Inc. increased its position in shares of AstraZeneca by 4.8% in the 2nd quarter. Avantax Advisory Services Inc. now owns 109,029 shares of the company’s stock worth $7,619,000 after purchasing an additional 4,960 shares during the last quarter. 20.35% of the stock is owned by hedge funds and other institutional investors.

AstraZeneca Price Performance

Shares of NASDAQ:AZN opened at $89.10 on Friday. The stock has a market capitalization of $276.34 billion, a P/E ratio of 33.50, a P/E/G ratio of 1.52 and a beta of 0.34. The business has a 50-day moving average of $82.13 and a two-hundred day moving average of $76.20. AstraZeneca PLC has a fifty-two week low of $61.24 and a fifty-two week high of $89.43. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.86 and a quick ratio of 0.67.

AstraZeneca (NASDAQ:AZN) last issued its quarterly earnings data on Thursday, November 6th. The company reported $1.19 earnings per share for the quarter, beating analysts’ consensus estimates of $1.14 by $0.05. AstraZeneca had a return on equity of 32.84% and a net margin of 14.68%.The business had revenue of $15.19 billion for the quarter, compared to the consensus estimate of $14.75 billion. During the same period last year, the business earned $2.08 EPS. The firm’s revenue was up 12.0% compared to the same quarter last year. On average, equities research analysts predict that AstraZeneca PLC will post 4.51 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on AZN shares. Jefferies Financial Group initiated coverage on shares of AstraZeneca in a research report on Monday, October 27th. They set a “buy” rating on the stock. Deutsche Bank Aktiengesellschaft cut AstraZeneca from a “hold” rating to a “sell” rating in a research note on Thursday, October 16th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of AstraZeneca in a report on Wednesday, October 8th. Five research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, AstraZeneca currently has a consensus rating of “Moderate Buy” and a consensus price target of $86.00.

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.