3,706 Shares in Astrazeneca Plc $AZN Acquired by Miller Global Investments LLC

Miller Global Investments LLC bought a new position in shares of Astrazeneca Plc (NYSE:AZN) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 3,706 shares of the company’s stock, valued at approximately $703,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of AZN. Pursuit Wealth Management LLC bought a new stake in Astrazeneca during the 4th quarter valued at approximately $636,000. Penobscot Investment Management Company Inc. boosted its stake in Astrazeneca by 17.2% in the 4th quarter. Penobscot Investment Management Company Inc. now owns 83,539 shares of the company’s stock worth $7,680,000 after purchasing an additional 12,255 shares during the period. Assetmark Inc. boosted its stake in Astrazeneca by 8.1% in the 4th quarter. Assetmark Inc. now owns 335,387 shares of the company’s stock worth $30,832,000 after purchasing an additional 25,004 shares during the period. Aaron Wealth Advisors LLC grew its holdings in Astrazeneca by 31.9% during the 4th quarter. Aaron Wealth Advisors LLC now owns 27,984 shares of the company’s stock valued at $2,573,000 after buying an additional 6,769 shares in the last quarter. Finally, Cambiar Investors LLC raised its position in shares of Astrazeneca by 2.0% during the fourth quarter. Cambiar Investors LLC now owns 276,150 shares of the company’s stock valued at $25,386,000 after buying an additional 5,326 shares during the last quarter. 20.35% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on AZN shares. HSBC downgraded shares of Astrazeneca from a “buy” rating to a “hold” rating in a report on Monday, July 13th. Barclays reiterated a “buy” rating on shares of Astrazeneca in a research note on Monday, June 1st. Wall Street Zen lowered Astrazeneca from a “buy” rating to a “hold” rating in a research report on Saturday. Jefferies Financial Group reaffirmed a “buy” rating on shares of Astrazeneca in a report on Friday, June 26th. Finally, JPMorgan Chase & Co. reissued a “buy” rating on shares of Astrazeneca in a research note on Tuesday, June 30th. Twelve investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $211.00.

Key Headlines Impacting Astrazeneca

Here are the key news stories impacting Astrazeneca this week:

• Positive Sentiment: A combination could create significant cost savings and operating synergies. One healthcare analyst said that aggressively reducing overlapping expenses could be the primary financial rationale for the transaction. Top Healthcare Analyst: A $400 Billion AstraZeneca-Bristol Myers Deal Could “Cut Costs in a Big Way”
• Positive Sentiment: AstraZeneca was ranked among the stronger-growing large pharmaceutical companies, while Bristol Myers has lagged its peers. AstraZeneca’s growth could potentially improve the combined company’s outlook if management executes successfully. AstraZeneca tops pharma growth rankings while Bristol Myers trails amid merger talks
• Neutral Sentiment: The discussions are preliminary, and analysts said a transaction may be unlikely in the near term. Neither company has announced a definitive agreement, leaving the deal’s structure, price and timing uncertain. Potential AstraZeneca purchase of Bristol-Myers unlikely for now – analyst
• Negative Sentiment: Investors reacted negatively because the reported acquisition would be one of the largest pharmaceutical deals ever and could require AstraZeneca to pay a premium, issue debt or stock, and absorb substantial integration costs. Reports described analysts as “baffled” by the strategic logic. Analysts baffled by AstraZeneca’s interest in Bristol Myers Squibb
• Negative Sentiment: Commentary indicated that AZN shareholders view the potential transaction as value-destructive, while BMY shareholders may benefit from the prospect of a premium exit. That asymmetric reaction helps explain the pressure on AstraZeneca shares. Bristol-Myers Squibb and AstraZeneca said to discuss megamerger

Astrazeneca Stock Down 6.7%

Shares of NYSE AZN opened at $158.21 on Tuesday. The firm’s 50-day moving average price is $178.44 and its 200-day moving average price is $187.69. The company has a current ratio of 0.89, a quick ratio of 0.67 and a debt-to-equity ratio of 0.47. The stock has a market capitalization of $245.37 billion, a price-to-earnings ratio of 23.65, a P/E/G ratio of 1.47 and a beta of 0.26. Astrazeneca Plc has a 12-month low of $145.79 and a 12-month high of $212.71.

Astrazeneca (NYSE:AZN) last released its quarterly earnings results on Monday, July 27th. The company reported $2.63 EPS for the quarter, topping the consensus estimate of $2.50 by $0.13. Astrazeneca had a return on equity of 31.45% and a net margin of 17.02%.The company had revenue of $15.38 billion during the quarter, compared to analyst estimates of $15.44 billion. During the same quarter last year, the business posted $2.17 earnings per share. The firm’s revenue was up 6.4% on a year-over-year basis. On average, equities research analysts anticipate that Astrazeneca Plc will post 10.22 EPS for the current fiscal year.

Astrazeneca Company Profile

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.