Ritholtz Wealth Management Cuts Position in AstraZeneca PLC (NASDAQ:AZN)

Ritholtz Wealth Management trimmed its stake in shares of AstraZeneca PLC (NASDAQ:AZN - Free Report) by 18.0% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 68,370 shares of the company's stock after selling 14,968 shares during the period. Ritholtz Wealth Management's holdings in AstraZeneca were worth $4,480,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in AZN. Martin Investment Management LLC lifted its stake in shares of AstraZeneca by 2.8% in the 3rd quarter. Martin Investment Management LLC now owns 284,204 shares of the company's stock worth $22,571,000 after purchasing an additional 7,615 shares during the period. Nordea Investment Management AB bought a new position in AstraZeneca in the fourth quarter worth approximately $754,000. Integrated Advisors Network LLC boosted its stake in shares of AstraZeneca by 46.6% during the 3rd quarter. Integrated Advisors Network LLC now owns 43,610 shares of the company's stock worth $3,398,000 after acquiring an additional 13,860 shares during the last quarter. Creative Planning grew its position in shares of AstraZeneca by 8.0% during the 3rd quarter. Creative Planning now owns 224,751 shares of the company's stock valued at $17,510,000 after acquiring an additional 16,692 shares during the period. Finally, Soros Fund Management LLC increased its stake in shares of AstraZeneca by 8.2% in the 3rd quarter. Soros Fund Management LLC now owns 2,652,771 shares of the company's stock worth $206,677,000 after purchasing an additional 201,233 shares in the last quarter. Institutional investors own 20.35% of the company's stock.

Wall Street Analyst Weigh In

AZN has been the topic of several analyst reports. UBS Group upgraded AstraZeneca from a "sell" rating to a "neutral" rating in a research report on Wednesday, November 20th. Deutsche Bank Aktiengesellschaft upgraded AstraZeneca from a "sell" rating to a "hold" rating in a research note on Wednesday, November 6th. Two research analysts have rated the stock with a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Buy" and an average price target of $89.75.

AstraZeneca Price Performance

Shares of NASDAQ AZN traded down $0.31 during mid-day trading on Friday, reaching $66.60. The company's stock had a trading volume of 5,419,360 shares, compared to its average volume of 4,940,232. The stock has a fifty day moving average of $66.06 and a two-hundred day moving average of $74.57. The firm has a market capitalization of $206.50 billion, a PE ratio of 31.87, a P/E/G ratio of 1.05 and a beta of 0.46. AstraZeneca PLC has a 52 week low of $60.47 and a 52 week high of $87.68. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.93 and a quick ratio of 0.71.

AstraZeneca (NASDAQ:AZN - Get Free Report) last announced its quarterly earnings data on Tuesday, November 12th. The company reported $1.04 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.01 by $0.03. AstraZeneca had a net margin of 12.68% and a return on equity of 30.01%. The business had revenue of $13.57 billion during the quarter, compared to analyst estimates of $13.08 billion. During the same period last year, the firm posted $0.87 EPS. The company's revenue was up 18.0% on a year-over-year basis. As a group, sell-side analysts anticipate that AstraZeneca PLC will post 4.11 EPS for the current fiscal year.

AstraZeneca Company Profile

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.