Azzad Asset Management Inc. ADV Has $4.22 Million Stake in AstraZeneca PLC (NASDAQ:AZN)

Azzad Asset Management Inc. ADV grew its holdings in shares of AstraZeneca PLC (NASDAQ:AZN) by 3.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 62,251 shares of the company’s stock after acquiring an additional 1,964 shares during the quarter. Azzad Asset Management Inc. ADV’s holdings in AstraZeneca were worth $4,218,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in AZN. Anchor Investment Management LLC acquired a new position in shares of AstraZeneca in the fourth quarter valued at approximately $26,000. Compagnie Lombard Odier SCmA bought a new position in shares of AstraZeneca during the 4th quarter worth approximately $27,000. Able Wealth Management LLC bought a new position in shares of AstraZeneca during the 4th quarter worth approximately $27,000. Pin Oak Investment Advisors Inc. boosted its holdings in shares of AstraZeneca by 468.4% during the 4th quarter. Pin Oak Investment Advisors Inc. now owns 449 shares of the company’s stock worth $30,000 after buying an additional 370 shares in the last quarter. Finally, Northwest Financial Advisors bought a new position in shares of AstraZeneca during the 4th quarter worth approximately $34,000. Institutional investors and hedge funds own 20.35% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on AZN. Argus increased their price target on AstraZeneca from $80.00 to $85.00 and gave the stock a “buy” rating in a report on Thursday, May 30th. Deutsche Bank Aktiengesellschaft upgraded AstraZeneca from a “sell” rating to a “hold” rating in a report on Tuesday, April 16th. BMO Capital Markets increased their target price on AstraZeneca from $80.00 to $82.00 and gave the stock an “outperform” rating in a report on Friday, April 26th. The Goldman Sachs Group started coverage on AstraZeneca in a report on Thursday, May 30th. They issued a “buy” rating and a $97.00 target price on the stock. Finally, Citigroup upgraded AstraZeneca to a “strong-buy” rating in a report on Monday, June 24th. Three analysts have rated the stock with a hold rating, six have given a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat.com, AstraZeneca presently has a consensus rating of “Buy” and a consensus target price of $88.00.

AstraZeneca Stock Performance

Shares of AstraZeneca stock traded down $0.07 during trading hours on Wednesday, hitting $76.92. 946,107 shares of the company’s stock traded hands, compared to its average volume of 5,513,599. AstraZeneca PLC has a 12-month low of $60.47 and a 12-month high of $80.86. The stock has a market capitalization of $238.49 billion, a price-to-earnings ratio of 37.74, a PEG ratio of 1.40 and a beta of 0.45. The company has a fifty day simple moving average of $77.80 and a 200-day simple moving average of $70.59. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.89 and a quick ratio of 0.70.

AstraZeneca (NASDAQ:AZN) last announced its 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. AstraZeneca had a return on equity of 30.42% and a net margin of 13.30%. The firm had revenue of $12.68 billion during the quarter, compared to analyst estimates of $11.92 billion. Equities research analysts anticipate that AstraZeneca PLC will post 4.04 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.