Canandaigua National Trust Co of Florida bought a new position in shares of Astrazeneca Plc (NYSE:AZN – Free Report) during the third quarter, Holdings Channel.com reports. The fund bought 5,473 shares of the company’s stock, valued at approximately $891,000.
A number of other large investors have also added to or reduced their stakes in the business. Professional Advisory Services Inc. bought a new position in Astrazeneca during the second quarter worth $30,241,000. Wealthcare Advisory Partners LLC bought a new position in shares of Astrazeneca in the second quarter valued at about $2,296,000. Andra AP fonden lifted its stake in shares of Astrazeneca by 122.9% during the 2nd quarter. Andra AP fonden now owns 526,714 shares of the company’s stock worth $99,876,000 after buying an additional 290,412 shares during the last quarter. Westport Asset Management Inc. bought a new stake in shares of Astrazeneca during the 2nd quarter worth about $1,422,000. Finally, Madison Asset Management LLC bought a new position in Astrazeneca in the 2nd quarter valued at about $4,041,000. Institutional investors own 20.35% of the company’s stock.
Astrazeneca Price Performance
NYSE AZN traded up $1.57 during midday trading on Wednesday, hitting $160.18. The company had a trading volume of 2,458,447 shares, compared to its average volume of 2,798,560. The company has a market capitalization of $248.42 billion, a PE ratio of 23.94, a P/E/G ratio of 1.32 and a beta of 0.27. 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 firm has a 50-day moving average price of $162.67 and a 200-day moving average price of $177.48. Astrazeneca Plc has a twelve month low of $153.41 and a twelve month high of $212.71.
Analyst Ratings Changes
A number of equities research analysts have recently issued reports on the company. JPMorgan Chase & Co. restated a “buy” rating on shares of Astrazeneca in a report on Tuesday, June 30th. Jefferies Financial Group reiterated a “buy” rating on shares of Astrazeneca in a research note on Friday, June 26th. Royal Bank Of Canada began coverage on Astrazeneca in a report on Tuesday, September 8th. They set an “outperform” rating for the company. The Goldman Sachs Group restated a “buy” rating on shares of Astrazeneca in a research note on Wednesday, July 1st. Finally, Citigroup reaffirmed a “buy” rating on shares of Astrazeneca in a report on Tuesday. Fourteen investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Astrazeneca presently has an average rating of “Moderate Buy” and an average price target of $206.67.
Check Out Our Latest Research Report on Astrazeneca
Key Stories Impacting Astrazeneca
Here are the key news stories impacting Astrazeneca this week:
- Positive Sentiment: Analysts remain bullish ahead of third-quarter results. Jefferies reiterated its “buy” rating and 17,500-pence price target, citing expectations for revenue roughly 1% above consensus and core EBIT about 3% ahead of forecasts. Jefferies maintains buy rating on AstraZeneca
- Positive Sentiment: Citi raised its price target to £186 from £178 and maintained a “buy” rating. The broker increased its peak-sales forecast for tozorakimab to $7 billion and SERENA-6 to $1.1 billion, more than offsetting the removal of its $1.7 billion forecast for SERENA-4. Citi raises AstraZeneca target
- Positive Sentiment: AstraZeneca opened a $1 billion global R&D center in Kendall Square, Massachusetts. The facility will combine oncology, cell therapy, chronic and rare disease, and obesity research, using robotics and artificial intelligence to support drug development and strengthen the company’s long-term pipeline. AstraZeneca opens new R&D hub
- Positive Sentiment: AstraZeneca completed a $2 billion investment in Summit Therapeutics, expanding its exposure to Summit’s drug-development programs and potentially adding future growth to its oncology portfolio. AstraZeneca completes investment in Summit Therapeutics
- Neutral Sentiment: Valuation appears reasonable based on current earnings, which may limit concerns about overpricing, although investors still await third-quarter results for confirmation of operating momentum. AstraZeneca stock valuation analysis
Astrazeneca Profile
AstraZeneca PLC is a global biopharmaceutical company headquartered in Cambridge, United Kingdom. Its research, development and commercial operations focus on prescription medicines for serious and chronic diseases, with an emphasis on discovering and delivering innovative therapies rather than operating as a diversified healthcare conglomerate.
The company’s principal therapeutic areas include oncology; cardiovascular, renal and metabolic diseases; respiratory and immunological conditions; and rare diseases.
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