Penobscot Investment Management Company Inc. lessened its holdings in shares of Astrazeneca Plc (NYSE:AZN – Free Report) by 40.0% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 50,083 shares of the company’s stock after selling 33,456 shares during the period. Penobscot Investment Management Company Inc.’s holdings in Astrazeneca were worth $9,850,000 at the end of the most recent quarter.
Other hedge funds also recently made changes to their positions in the company. Integral Health Asset Management LLC lifted its position in Astrazeneca by 50.0% during the third quarter. Integral Health Asset Management LLC now owns 300,000 shares of the company’s stock worth $23,016,000 after purchasing an additional 100,000 shares during the period. Clark Capital Management Group Inc. increased its holdings in Astrazeneca by 94.2% in the 3rd quarter. Clark Capital Management Group Inc. now owns 1,294,484 shares of the company’s stock valued at $99,313,000 after buying an additional 627,971 shares during the period. Signet Financial Management LLC acquired a new position in shares of Astrazeneca in the 4th quarter valued at approximately $2,565,000. Boston Common Asset Management LLC lifted its holdings in shares of Astrazeneca by 21.2% during the 4th quarter. Boston Common Asset Management LLC now owns 83,424 shares of the company’s stock worth $7,669,000 after acquiring an additional 14,576 shares during the period. Finally, Westview Management dba Westview Investment Advisors acquired a new position in Astrazeneca during the fourth quarter valued at approximately $3,598,000. 20.35% of the stock is owned by institutional investors.
Analyst Upgrades and Downgrades
Several research firms have weighed in on AZN. Bank of America restated a “buy” rating on shares of Astrazeneca in a research note on Wednesday, July 1st. Wall Street Zen upgraded Astrazeneca from a “hold” rating to a “buy” rating in a research report on Saturday, May 2nd. UBS Group reiterated a “buy” rating on shares of Astrazeneca in a research report on Friday, April 10th. Barclays restated a “buy” rating on shares of Astrazeneca in a research report on Monday, June 1st. Finally, JPMorgan Chase & Co. reaffirmed a “buy” rating on shares of Astrazeneca in a research note on Tuesday, June 30th. Fourteen 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 stock presently has an average rating of “Moderate Buy” and an average target price of $205.33.
Astrazeneca Stock Up 1.4%
NYSE:AZN opened at $192.77 on Wednesday. Astrazeneca Plc has a one year low of $137.23 and a one year high of $212.71. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.91 and a quick ratio of 0.71. The company has a market cap of $298.97 billion, a PE ratio of 28.94, a P/E/G ratio of 1.54 and a beta of 0.24. The firm’s 50 day simple moving average is $184.08 and its 200 day simple moving average is $188.53.
Astrazeneca (NYSE:AZN – Get Free Report) last announced its quarterly earnings results on Wednesday, April 29th. The company reported $2.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.52 by $0.06. The firm had revenue of $15.29 billion during the quarter, compared to analysts’ expectations of $14.93 billion. Astrazeneca had a net margin of 17.19% and a return on equity of 30.86%. On average, research analysts anticipate that Astrazeneca Plc will post 10.28 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.
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