Cullinan Associates Inc. Decreases Holdings in Astrazeneca Plc $AZN

Cullinan Associates Inc. reduced its stake in Astrazeneca Plc (NYSE:AZN) by 50.0% during the first quarter, according to its most recent filing with the SEC. The fund owned 4,013 shares of the company’s stock after selling 4,013 shares during the quarter. Cullinan Associates Inc.’s holdings in Astrazeneca were worth $791,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in AZN. Triumph Capital Management bought a new stake in Astrazeneca in the third quarter worth about $25,000. MV Capital Management Inc. bought a new position in shares of Astrazeneca during the 4th quarter valued at approximately $26,000. Mascoma Wealth Management LLC bought a new position in shares of Astrazeneca during the 1st quarter valued at approximately $26,000. Bangor Savings Bank increased its stake in shares of Astrazeneca by 102.7% during the 4th quarter. Bangor Savings Bank now owns 304 shares of the company’s stock worth $28,000 after purchasing an additional 154 shares during the last quarter. Finally, Eagle Bay Advisors LLC bought a new stake in shares of Astrazeneca in the 4th quarter worth approximately $30,000. Institutional investors own 20.35% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. TD Cowen reiterated a “buy” rating on shares of Astrazeneca in a research note on Wednesday, March 18th. Morgan Stanley restated an “overweight” rating on shares of Astrazeneca in a research note on Wednesday, April 8th. Sanford C. Bernstein reaffirmed a “buy” rating on shares of Astrazeneca in a research report on Monday, May 4th. Bank of America reiterated a “buy” rating on shares of Astrazeneca in a research note on Wednesday, July 1st. Finally, Barclays reissued a “buy” rating on shares of Astrazeneca in a report on Monday, June 1st. Fourteen equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $211.00.

Astrazeneca Stock Performance

Shares of NYSE AZN traded down $6.63 during mid-day trading on Friday, hitting $171.86. The company had a trading volume of 3,594,756 shares, compared to its average volume of 2,047,245. The stock’s 50-day moving average price is $183.68 and its 200-day moving average price is $188.66. Astrazeneca Plc has a 1 year low of $137.23 and a 1 year high of $212.71. The company has a market capitalization of $266.54 billion, a price-to-earnings ratio of 25.80, a P/E/G ratio of 1.39 and a beta of 0.24. The company has a current ratio of 0.91, a quick ratio of 0.71 and a debt-to-equity ratio of 0.52.

Astrazeneca (NYSE:AZN) last announced its quarterly earnings results on Wednesday, April 29th. The company reported $2.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.52 by $0.06. The firm had revenue of $15.29 billion for the quarter, compared to the consensus estimate of $14.93 billion. Astrazeneca had a net margin of 17.19% and a return on equity of 30.86%. On average, sell-side analysts forecast that Astrazeneca Plc will post 10.28 earnings per share for the current year.

Trending Headlines about Astrazeneca

Here are the key news stories impacting Astrazeneca this week:

• Negative Sentiment: Wainua’s Phase 3 failure removes a potential growth driver and raises concerns about AstraZeneca’s ability to expand successfully beyond oncology. Reuters: AstraZeneca-Ionis drug fails to meet main goal in late-stage heart disease trial
• Negative Sentiment: Several reports say the miss has hurt management credibility and triggered a sharp market selloff, with investors reassessing the value of AstraZeneca’s pipeline. Proactive Investors: AstraZeneca’s Wainua failure hurts credibility more than valuation, Jefferies warns
• Neutral Sentiment: Some analysts still maintained a constructive view, with Bernstein reportedly reiterating a buy rating despite the setback, suggesting the longer-term thesis is not fully broken. Globe and Mail/Bernstein note: AstraZeneca receives a Buy from Bernstein
• Negative Sentiment: Investor concern has also expanded into legal overhangs, with a pending investigation notice adding another source of pressure on the stock. PR Newswire: AstraZeneca Investigation Notice

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.