Meridian Wealth Management LLC Invests $1.01 Million in AstraZeneca PLC (NASDAQ:AZN)

Meridian Wealth Management LLC bought a new stake in AstraZeneca PLC (NASDAQ:AZN) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 12,894 shares of the company’s stock, valued at approximately $1,005,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of AZN. McClarren Financial Advisors Inc. raised its holdings in AstraZeneca by 320.8% during the third quarter. McClarren Financial Advisors Inc. now owns 324 shares of the company’s stock worth $25,000 after purchasing an additional 247 shares in the last quarter. GHP Investment Advisors Inc. acquired a new stake in AstraZeneca during the 2nd quarter worth $26,000. Capital Performance Advisors LLP acquired a new stake in AstraZeneca during the 3rd quarter worth $28,000. Pathway Financial Advisers LLC purchased a new stake in AstraZeneca in the first quarter valued at $29,000. Finally, Hobbs Group Advisors LLC acquired a new position in AstraZeneca in the second quarter valued at $35,000. 20.35% of the stock is currently owned by institutional investors and hedge funds.

AstraZeneca Stock Up 2.1 %

Shares of AstraZeneca stock opened at $65.63 on Friday. AstraZeneca PLC has a one year low of $60.47 and a one year high of $87.68. The company has a market cap of $203.49 billion, a P/E ratio of 31.40, a PEG ratio of 1.20 and a beta of 0.47. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.71 and a current ratio of 0.93. The firm has a fifty day moving average of $73.44 and a two-hundred day moving average of $77.80.

AstraZeneca (NASDAQ:AZN) last posted its quarterly earnings results on Tuesday, November 12th. The company reported $1.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.01 by $0.03. AstraZeneca had a net margin of 12.68% and a return on equity of 30.01%. The firm had revenue of $13.57 billion during the quarter, compared to analysts’ expectations of $13.08 billion. During the same period in the prior year, the company posted $0.87 earnings per share. The firm’s revenue for the quarter was up 18.0% on a year-over-year basis. On average, analysts forecast that AstraZeneca PLC will post 4.1 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms have recently commented on AZN. Deutsche Bank Aktiengesellschaft upgraded AstraZeneca from a “sell” rating to a “hold” rating in a research report on Wednesday, November 6th. UBS Group upgraded AstraZeneca from a “sell” rating to a “neutral” rating in a research note on Wednesday. Erste Group Bank upgraded shares of AstraZeneca from a “hold” rating to a “buy” rating in a research report on Wednesday, September 11th. Finally, TD Cowen upped their price target on shares of AstraZeneca from $90.00 to $95.00 and gave the company a “buy” rating in a research report on Monday, August 12th. Three analysts have rated the stock with a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $89.75.

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.