NewEdge Advisors LLC Reduces Holdings in Astrazeneca Plc $AZN

NewEdge Advisors LLC lowered its position in shares of Astrazeneca Plc (NYSE:AZN) by 56.8% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 38,841 shares of the company’s stock after selling 50,971 shares during the period. NewEdge Advisors LLC’s holdings in Astrazeneca were worth $7,660,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in AZN. Cozad Asset Management Inc. purchased a new stake in shares of Astrazeneca during the first quarter worth approximately $1,271,000. Axiom Investment Management LLC purchased a new position in Astrazeneca during the 1st quarter worth $98,000. Summitry LLC purchased a new position in Astrazeneca during the 1st quarter worth $297,000. Groupama Asset Managment acquired a new stake in shares of Astrazeneca in the 1st quarter worth $170,325,000. Finally, Groupe la Francaise acquired a new stake in shares of Astrazeneca in the 1st quarter worth $190,802,000. 20.35% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on AZN. DZ Bank upgraded shares of Astrazeneca from a “neutral” rating to a “buy” rating in a research note on Wednesday, April 29th. Sanford C. Bernstein reaffirmed a “buy” rating on shares of Astrazeneca in a report on Monday, May 4th. The Goldman Sachs Group reissued a “buy” rating on shares of Astrazeneca in a research note on Wednesday, July 1st. Bank of America restated a “buy” rating on shares of Astrazeneca in a research note on Wednesday, July 1st. Finally, JPMorgan Chase & Co. reissued a “buy” rating on shares of Astrazeneca in a report on Tuesday, June 30th. Twelve investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $211.00.

Astrazeneca Stock Up 0.2%

AZN opened at $161.80 on Tuesday. Astrazeneca Plc has a 12 month low of $145.79 and a 12 month high of $212.71. The business has a 50-day moving average of $175.98 and a two-hundred day moving average of $186.98. The stock has a market capitalization of $250.94 billion, a price-to-earnings ratio of 24.19, a price-to-earnings-growth ratio of 1.39 and a beta of 0.26. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.89 and a quick ratio of 0.67.

Astrazeneca (NYSE:AZN) last announced 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 period in the prior year, the firm posted $2.17 earnings per share. The firm’s revenue was up 6.4% on a year-over-year basis. On average, research analysts expect that Astrazeneca Plc will post 10.22 earnings per share 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.