Envestnet Portfolio Solutions Inc. Boosts Stock Position in AstraZeneca PLC (NASDAQ:AZN)

Envestnet Portfolio Solutions Inc. raised its stake in shares of AstraZeneca PLC (NASDAQ:AZN) by 8.6% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 125,299 shares of the company’s stock after acquiring an additional 9,871 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in AstraZeneca were worth $8,489,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Capital International Investors raised its stake in shares of AstraZeneca by 0.5% during the 4th quarter. Capital International Investors now owns 34,782,762 shares of the company’s stock worth $2,342,367,000 after buying an additional 164,183 shares in the last quarter. Sanders Capital LLC increased its stake in AstraZeneca by 39.0% in the 4th quarter. Sanders Capital LLC now owns 14,684,066 shares of the company’s stock valued at $988,972,000 after purchasing an additional 4,122,965 shares in the last quarter. CIBC Private Wealth Group LLC increased its stake in AstraZeneca by 9.3% in the 4th quarter. CIBC Private Wealth Group LLC now owns 10,424,914 shares of the company’s stock valued at $708,617,000 after purchasing an additional 889,178 shares in the last quarter. Fisher Asset Management LLC increased its stake in AstraZeneca by 2.5% in the 4th quarter. Fisher Asset Management LLC now owns 9,404,023 shares of the company’s stock valued at $633,361,000 after purchasing an additional 233,015 shares in the last quarter. Finally, Putnam Investments LLC increased its stake in AstraZeneca by 4.5% in the 4th quarter. Putnam Investments LLC now owns 7,729,834 shares of the company’s stock valued at $520,604,000 after purchasing an additional 333,310 shares in the last quarter. 20.35% of the stock is owned by hedge funds and other institutional investors.

AstraZeneca Price Performance

NASDAQ:AZN traded up $1.30 during midday trading on Friday, hitting $79.24. 3,050,601 shares of the stock were exchanged, compared to its average volume of 5,408,008. AstraZeneca PLC has a one year low of $60.47 and a one year high of $80.86. The company has a market capitalization of $245.68 billion, a price-to-earnings ratio of 38.21, a P/E/G ratio of 1.40 and a beta of 0.45. The business has a 50-day moving average price of $78.11 and a two-hundred day moving average price of $71.07. The company has a current ratio of 0.89, a quick ratio of 0.70 and a debt-to-equity ratio of 0.73.

AstraZeneca (NASDAQ:AZN) last posted its quarterly earnings results on Thursday, April 25th. The company reported $1.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.95 by $0.08. The company had revenue of $12.68 billion for the quarter, compared to analysts’ expectations of $11.92 billion. AstraZeneca had a return on equity of 30.42% and a net margin of 13.30%. Sell-side analysts predict that AstraZeneca PLC will post 4.04 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages have commented on AZN. Citigroup upgraded AstraZeneca to a “strong-buy” rating in a report on Monday, June 24th. Deutsche Bank Aktiengesellschaft upgraded AstraZeneca from a “sell” rating to a “hold” rating in a report on Tuesday, April 16th. The Goldman Sachs Group initiated coverage on AstraZeneca in a research report on Thursday, May 30th. They issued a “buy” rating and a $97.00 price objective on the stock. BMO Capital Markets lifted their target price on AstraZeneca from $80.00 to $82.00 and gave the stock an “outperform” rating in a research report on Friday, April 26th. Finally, Barclays upgraded AstraZeneca to a “strong-buy” rating in a research note on Monday, June 24th. Three investment analysts have rated the stock with a hold rating, six have issued a buy rating and three have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $88.00.

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.