Apollon Wealth Management LLC Raises Stake in Astrazeneca Plc $AZN

Apollon Wealth Management LLC grew its position in Astrazeneca Plc (NYSE:AZN) by 44.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 94,445 shares of the company’s stock after purchasing an additional 29,216 shares during the quarter. Apollon Wealth Management LLC’s holdings in Astrazeneca were worth $18,576,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Cornerstone Wealth Group LLC bought a new position in shares of Astrazeneca in the first quarter worth about $220,000. Border to Coast Pensions Partnership Ltd bought a new position in Astrazeneca in the 1st quarter worth approximately $398,270,000. Pictet Asset Management Holding SA bought a new position in Astrazeneca in the 1st quarter worth approximately $675,263,000. ABN AMRO Bank N.V. grew its holdings in Astrazeneca by 32,441.5% during the 1st quarter. ABN AMRO Bank N.V. now owns 2,445,171 shares of the company’s stock valued at $482,158,000 after buying an additional 2,437,657 shares in the last quarter. Finally, Value Partners Investments Inc. purchased a new stake in Astrazeneca during the 1st quarter valued at approximately $11,331,000. 20.35% of the stock is owned by hedge funds and other institutional investors.

Astrazeneca Price Performance

Astrazeneca stock opened at $188.58 on Monday. Astrazeneca Plc has a 52-week low of $137.23 and a 52-week high of $212.71. The company has a quick ratio of 0.71, a current ratio of 0.91 and a debt-to-equity ratio of 0.52. The firm’s fifty day moving average is $184.66 and its 200 day moving average is $187.16. The company has a market cap of $292.47 billion, a price-to-earnings ratio of 28.32, a PEG ratio of 1.64 and a beta of 0.25.

Astrazeneca (NYSE:AZN) last issued its quarterly earnings data on Wednesday, April 29th. The company reported $2.58 EPS for the quarter, topping analysts’ consensus estimates of $2.52 by $0.06. Astrazeneca had a net margin of 17.19% and a return on equity of 30.86%. The business had revenue of $15.29 billion during the quarter, compared to analysts’ expectations of $14.93 billion. Sell-side analysts forecast that Astrazeneca Plc will post 9.39 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. Deutsche Bank Aktiengesellschaft reissued a “sell” rating on shares of Astrazeneca in a report on Tuesday, June 9th. Jefferies Financial Group reiterated a “buy” rating on shares of Astrazeneca in a report on Friday. JPMorgan Chase & Co. reiterated a “buy” rating on shares of Astrazeneca in a research note on Tuesday, June 9th. TD Cowen reissued a “buy” rating on shares of Astrazeneca in a report on Wednesday, March 18th. Finally, Barclays restated a “buy” rating on shares of Astrazeneca in a research report on Monday, June 1st. Twelve equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $205.33.

About Astrazeneca

AstraZeneca plc is a global biopharmaceutical company headquartered in Cambridge, England. Formed through the 1999 merger of Sweden’s Astra AB and the UK’s Zeneca Group, the company researches, develops, manufactures and commercializes prescription medicines across a range of therapeutic areas. AstraZeneca positions itself as R&D-driven, investing in discovery science, clinical development and regulatory processes to bring new therapies to market.

The company’s commercial portfolio and late-stage pipeline emphasize oncology, cardiovascular, renal and metabolic (CVRM) diseases, and respiratory and immunology.