Eversept Partners LP Purchases New Position in AstraZeneca PLC (NASDAQ:AZN)

Eversept Partners LP purchased a new position in shares of AstraZeneca PLC (NASDAQ:AZN - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 102,661 shares of the company's stock, valued at approximately $6,726,000.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Albion Financial Group UT lifted its position in shares of AstraZeneca by 68.9% in the fourth quarter. Albion Financial Group UT now owns 608 shares of the company's stock valued at $40,000 after acquiring an additional 248 shares in the last quarter. Versant Capital Management Inc boosted its holdings in shares of AstraZeneca by 2,618.5% in the 4th quarter. Versant Capital Management Inc now owns 734 shares of the company's stock valued at $48,000 after purchasing an additional 707 shares during the last quarter. Crews Bank & Trust purchased a new stake in AstraZeneca during the fourth quarter valued at about $55,000. Golden State Wealth Management LLC purchased a new stake in shares of AstraZeneca during the 4th quarter worth about $55,000. Finally, Newbridge Financial Services Group Inc. acquired a new stake in AstraZeneca during the 4th quarter worth approximately $55,000. Institutional investors and hedge funds own 20.35% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. Morgan Stanley initiated coverage on AstraZeneca in a research note on Wednesday, February 12th. They set an "overweight" rating on the stock. BNP Paribas assumed coverage on shares of AstraZeneca in a research report on Tuesday, April 15th. They set an "outperform" rating and a $75.00 price target for the company. Finally, UBS Group upgraded shares of AstraZeneca from a "neutral" rating to a "buy" rating in a research note on Thursday, February 13th. One investment analyst has rated the stock with a hold rating, eight have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, AstraZeneca presently has a consensus rating of "Buy" and a consensus target price of $86.80.

AstraZeneca Stock Performance

Shares of NASDAQ:AZN traded up $1.04 during trading hours on Thursday, hitting $69.55. The stock had a trading volume of 3,432,007 shares, compared to its average volume of 5,217,047. AstraZeneca PLC has a 1-year low of $61.24 and a 1-year high of $87.68. The firm has a market capitalization of $215.69 billion, a price-to-earnings ratio of 30.77, a PEG ratio of 1.42 and a beta of 0.49. The stock's fifty day simple moving average is $72.43 and its 200 day simple moving average is $70.30. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.74 and a current ratio of 0.93.

AstraZeneca (NASDAQ:AZN - Get Free Report) last issued its quarterly earnings results on Thursday, February 6th. The company reported $1.05 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.10 by ($0.05). AstraZeneca had a net margin of 13.01% and a return on equity of 32.23%. Sell-side analysts anticipate that AstraZeneca PLC will post 4.51 earnings per share for the current fiscal year.

AstraZeneca Increases Dividend

The firm also recently disclosed a semi-annual dividend, which was paid on Monday, March 24th. Shareholders of record on Friday, February 21st were given a dividend of $1.03 per share. The ex-dividend date was Friday, February 21st. This is a positive change from AstraZeneca's previous semi-annual dividend of $0.49. This represents a yield of 2%. AstraZeneca's dividend payout ratio (DPR) is presently 91.15%.

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.