Astrazeneca Plc $AZN Shares Sold by Lmcg Investments LLC

Lmcg Investments LLC cut its stake in shares of Astrazeneca Plc (NYSE:AZN) by 56.5% in the 1st quarter, Holdings Channel reports. The firm owned 5,542 shares of the company’s stock after selling 7,200 shares during the quarter. Lmcg Investments LLC’s holdings in Astrazeneca were worth $1,093,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. MV Capital Management Inc. bought a new stake in shares of Astrazeneca in the 4th quarter worth approximately $26,000. Reflection Asset Management acquired a new stake in Astrazeneca in the fourth quarter worth $31,000. Raleigh Capital Management Inc. acquired a new stake in Astrazeneca in the first quarter worth $38,000. Lloyd Advisory Services LLC. bought a new stake in Astrazeneca in the fourth quarter valued at $35,000. Finally, Basepoint Wealth LLC acquired a new position in shares of Astrazeneca during the fourth quarter valued at $44,000. 20.35% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

AZN has been the subject of several recent research reports. TD Cowen restated a “buy” rating on shares of Astrazeneca in a research report on Wednesday, March 18th. Deutsche Bank Aktiengesellschaft reissued a “sell” rating on shares of Astrazeneca in a research note on Tuesday, June 30th. Weiss Ratings cut shares of Astrazeneca from a “buy (b)” rating to a “buy (b-)” rating in a research report on Thursday, June 18th. Sanford C. Bernstein restated a “buy” rating on shares of Astrazeneca in a research note on Monday, May 4th. Finally, Jefferies Financial Group reaffirmed a “buy” rating on shares of Astrazeneca in a report on Friday, June 26th. Fourteen investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $211.00.

Astrazeneca Price Performance

Shares of NYSE AZN opened at $178.46 on Friday. The stock has a market cap of $276.77 billion, a P/E ratio of 26.80, a P/E/G ratio of 1.53 and a beta of 0.24. The firm’s 50-day simple moving average is $183.99 and its 200 day simple moving average is $188.61. Astrazeneca Plc has a fifty-two week low of $137.23 and a fifty-two week high of $212.71. The company has a quick ratio of 0.71, a current ratio of 0.91 and a debt-to-equity ratio of 0.52.

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

Trending Headlines about Astrazeneca

Here are the key news stories impacting Astrazeneca this week:

• Negative Sentiment: AstraZeneca and partner Ionis said Wainua failed to meet its main goal in a late-stage trial for a rare heart condition, a disappointing result that raised concerns about the drug’s commercial potential and the strength of the company’s pipeline. Reuters article
• Negative Sentiment: Several reports said the trial miss sparked a sharp selloff in AZN shares, with investors reacting not just to the direct revenue impact but also to the hit to management credibility and confidence in late-stage development execution. Proactive Investors article
• Negative Sentiment: Market coverage highlighted that AstraZeneca’s shares were among the biggest laggards in the FTSE 100 and that the stock’s decline was tied to the surprise of missing the primary endpoint in a closely watched heart-disease study. CNBC article
• Neutral Sentiment: AstraZeneca also received a Buy rating from Bernstein, which may help offset some sentiment damage, but the upgrade was overwhelmed by the trial disappointment. Bernstein note
• Neutral Sentiment: Separately, AstraZeneca recently advanced a respiratory-drug licensing deal with Sino Biopharm, showing continued pipeline activity, but this news was not enough to offset today’s pressure from Wainua. WSJ article

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.