Hilltop National Bank purchased a new stake in shares of Astrazeneca Plc (NYSE:AZN – Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 7,577 shares of the company’s stock, valued at approximately $1,437,000.
A number of other institutional investors and hedge funds have also recently modified their holdings of AZN. IHT Wealth Management LLC grew its holdings in shares of Astrazeneca by 0.3% in the fourth quarter. IHT Wealth Management LLC now owns 17,527 shares of the company’s stock worth $3,076,000 after acquiring an additional 54 shares during the period. Visionary Wealth Advisors lifted its holdings in Astrazeneca by 1.5% in the fourth quarter. Visionary Wealth Advisors now owns 4,197 shares of the company’s stock valued at $737,000 after acquiring an additional 60 shares during the period. Vista Investment Management boosted its position in Astrazeneca by 0.3% in the fourth quarter. Vista Investment Management now owns 21,215 shares of the company’s stock worth $3,723,000 after purchasing an additional 60 shares during the last quarter. Kestra Investment Management LLC boosted its position in Astrazeneca by 1.9% in the fourth quarter. Kestra Investment Management LLC now owns 3,391 shares of the company’s stock worth $595,000 after purchasing an additional 63 shares during the last quarter. Finally, Luken Investment Analytics LLC grew its stake in shares of Astrazeneca by 4.3% during the 4th quarter. Luken Investment Analytics LLC now owns 1,564 shares of the company’s stock valued at $274,000 after purchasing an additional 64 shares during the period. 20.35% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
AZN has been the subject of several research reports. Barclays reaffirmed a “buy” rating on shares of Astrazeneca in a research report on Monday, June 1st. Deutsche Bank Aktiengesellschaft reissued a “sell” rating on shares of Astrazeneca in a report on Tuesday, June 30th. UBS Group restated a “buy” rating on shares of Astrazeneca in a research report on Friday, April 10th. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Astrazeneca in a report on Wednesday, July 1st. Finally, Wall Street Zen downgraded shares of Astrazeneca from a “buy” rating to a “hold” rating in a research report on Saturday. Twelve research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $211.00.
Astrazeneca News Roundup
Here are the key news stories impacting Astrazeneca this week:
- Positive Sentiment: A combination could create significant cost savings and operating synergies. One healthcare analyst said that aggressively reducing overlapping expenses could be the primary financial rationale for the transaction. Top Healthcare Analyst: A $400 Billion AstraZeneca-Bristol Myers Deal Could “Cut Costs in a Big Way”
- Positive Sentiment: AstraZeneca was ranked among the stronger-growing large pharmaceutical companies, while Bristol Myers has lagged its peers. AstraZeneca’s growth could potentially improve the combined company’s outlook if management executes successfully. AstraZeneca tops pharma growth rankings while Bristol Myers trails amid merger talks
- Neutral Sentiment: The discussions are preliminary, and analysts said a transaction may be unlikely in the near term. Neither company has announced a definitive agreement, leaving the deal’s structure, price and timing uncertain. Potential AstraZeneca purchase of Bristol-Myers unlikely for now – analyst
- Negative Sentiment: Investors reacted negatively because the reported acquisition would be one of the largest pharmaceutical deals ever and could require AstraZeneca to pay a premium, issue debt or stock, and absorb substantial integration costs. Reports described analysts as “baffled” by the strategic logic. Analysts baffled by AstraZeneca’s interest in Bristol Myers Squibb
- Negative Sentiment: Commentary indicated that AZN shareholders view the potential transaction as value-destructive, while BMY shareholders may benefit from the prospect of a premium exit. That asymmetric reaction helps explain the pressure on AstraZeneca shares. Bristol-Myers Squibb and AstraZeneca said to discuss megamerger
Astrazeneca Stock Performance
NYSE:AZN opened at $158.21 on Tuesday. 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 50-day simple moving average of $178.44 and a two-hundred day simple moving average of $187.69. The firm has a market capitalization of $245.37 billion, a PE ratio of 23.65, a P/E/G ratio of 1.47 and a beta of 0.26. Astrazeneca Plc has a 52-week low of $145.79 and a 52-week high of $212.71.
Astrazeneca (NYSE:AZN – Get Free Report) last posted its quarterly earnings data 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 firm had revenue of $15.38 billion for the quarter, compared to the consensus estimate of $15.44 billion. During the same quarter last year, the company earned $2.17 earnings per share. The business’s revenue for the quarter was up 6.4% compared to the same quarter last year. Analysts forecast 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.
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