MassMutual Private Wealth & Trust FSB Makes New $657,000 Investment in Astrazeneca Plc $AZN

MassMutual Private Wealth & Trust FSB bought a new position in shares of Astrazeneca Plc (NYSE:AZN) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 3,467 shares of the company’s stock, valued at approximately $657,000.

A number of other hedge funds have also recently made changes to their positions in AZN. Pursuit Wealth Management LLC bought a new position in Astrazeneca in the fourth quarter worth about $636,000. Penobscot Investment Management Company Inc. grew its position in shares of 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 buying an additional 12,255 shares during the last quarter. Assetmark Inc. raised its stake in shares of Astrazeneca by 8.1% during the 4th quarter. Assetmark Inc. now owns 335,387 shares of the company’s stock worth $30,832,000 after acquiring an additional 25,004 shares in the last quarter. Cambiar Investors LLC raised its stake in shares of Astrazeneca by 2.0% during the 4th quarter. Cambiar Investors LLC now owns 276,150 shares of the company’s stock worth $25,386,000 after acquiring an additional 5,326 shares in the last quarter. Finally, Lebenthal Global Advisors LLC purchased a new stake in Astrazeneca during the fourth quarter valued at approximately $1,221,000. 20.35% of the stock is currently owned by institutional investors.

More Astrazeneca News

Here are the key news stories impacting Astrazeneca this week:

• Positive Sentiment: A senior source told Reuters that AstraZeneca and Bristol Myers Squibb are not discussing a transaction, effectively quashing the merger rumor. Investors appear to view the clarification favorably because it removes uncertainty surrounding deal financing, valuation and integration risks. Reuters report on AstraZeneca-Bristol Myers deal discussions
• Positive Sentiment: AstraZeneca rebounded after the reports denied Bristol Myers takeover speculation. The shares had suffered a roughly 9% single-day selloff when the merger story first emerged, making the subsequent recovery a relief rally as investors reassessed the company’s standalone prospects. AZN rebound after merger denial
• Positive Sentiment: Traders purchased a high volume of AstraZeneca call options, indicating increased speculative interest and expectations for additional near-term gains or volatility following the merger-related selloff. AstraZeneca call option activity
• Positive Sentiment: AstraZeneca also entered a multi-year collaboration with SOPHiA GENETICS to develop companion diagnostics for two precision-oncology therapy programs. The agreement supports the company’s targeted-cancer strategy, although its immediate financial impact is unclear. SOPHiA GENETICS collaboration announcement
• Neutral Sentiment: Analysts remain divided on the strategic implications of the abandoned merger speculation. Citi said much of the deal-related risk was already reflected in AstraZeneca’s valuation, while other analysts compared the potential transaction with AstraZeneca’s earlier Alexion acquisition.
• Negative Sentiment: Pomerantz LLP announced an investigation into potential claims on behalf of AstraZeneca investors. Such investor-alert announcements can add reputational and legal overhang, though no wrongdoing has been established. Pomerantz AstraZeneca investor alert

Analysts Set New Price Targets

Several research firms have issued reports on AZN. HSBC lowered shares of Astrazeneca from a “buy” rating to a “hold” rating in a report on Monday, July 13th. UBS Group reissued a “buy” rating on shares of Astrazeneca in a research report on Friday, April 10th. Bank of America restated a “buy” rating on shares of Astrazeneca in a research note on Wednesday, July 1st. DZ Bank raised Astrazeneca from a “neutral” rating to a “buy” rating in a research report on Wednesday, April 29th. Finally, Barclays reiterated a “buy” rating on shares of Astrazeneca in a research note on Monday, June 1st. Twelve investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $211.00.

Astrazeneca Stock Performance

Shares of AZN opened at $161.41 on Thursday. The stock has a 50-day moving average of $177.32 and a two-hundred day moving average of $187.40. Astrazeneca Plc has a one year low of $145.79 and a one year high of $212.71. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.67 and a current ratio of 0.89. The stock has a market cap of $250.34 billion, a P/E ratio of 24.13, a P/E/G ratio of 1.34 and a beta of 0.26.

Astrazeneca (NYSE:AZN) last announced its quarterly earnings data on Monday, July 27th. The company reported $2.63 earnings per share for the quarter, beating analysts’ consensus estimates of $2.50 by $0.13. Astrazeneca had a return on equity of 31.45% and a net margin of 17.02%.The business had revenue of $15.38 billion for the quarter, compared to analyst estimates of $15.44 billion. During the same period in the prior year, the company earned $2.17 earnings per share. The company’s revenue was up 6.4% on a year-over-year basis. As a group, research analysts predict that Astrazeneca Plc will post 10.22 EPS for the current year.

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.