Money Concepts Capital Corp Lowers Stake in Astrazeneca Plc $AZN

Money Concepts Capital Corp cut its holdings in Astrazeneca Plc (NYSE:AZN) by 51.8% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 15,801 shares of the company’s stock after selling 17,007 shares during the quarter. Money Concepts Capital Corp’s holdings in Astrazeneca were worth $3,060,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Brighton Jones LLC increased its holdings in shares of Astrazeneca by 93.2% in the fourth quarter. Brighton Jones LLC now owns 5,782 shares of the company’s stock valued at $379,000 after purchasing an additional 2,789 shares during the period. AQR Capital Management LLC raised its stake in shares of Astrazeneca by 45.3% during the first quarter. AQR Capital Management LLC now owns 37,501 shares of the company’s stock worth $2,756,000 after purchasing an additional 11,690 shares during the last quarter. Amundi lifted its holdings in shares of Astrazeneca by 54.4% during the second quarter. Amundi now owns 10,274 shares of the company’s stock worth $731,000 after purchasing an additional 3,618 shares during the period. Jump Financial LLC lifted its holdings in shares of Astrazeneca by 898.4% during the second quarter. Jump Financial LLC now owns 33,478 shares of the company’s stock worth $2,339,000 after purchasing an additional 30,125 shares during the period. Finally, Daiwa Securities Group Inc. grew its position in Astrazeneca by 1.2% in the 2nd quarter. Daiwa Securities Group Inc. now owns 46,642 shares of the company’s stock valued at $3,259,000 after buying an additional 559 shares during the last quarter. 20.35% of the stock is owned by hedge funds and other institutional investors.

Astrazeneca Price Performance

Astrazeneca stock traded down $6.63 during midday trading on Friday, reaching $171.86. The company’s stock had a trading volume of 3,594,756 shares, compared to its average volume of 2,047,245. The firm has a market capitalization of $266.54 billion, a PE ratio of 25.80, a P/E/G ratio of 1.45 and a beta of 0.24. Astrazeneca Plc has a fifty-two week low of $137.23 and a fifty-two week high of $212.71. The stock’s 50 day simple moving average is $183.68 and its 200 day simple moving average is $188.59. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.71 and a current ratio of 0.91.

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

Analyst Upgrades and Downgrades

A number of equities analysts have commented on AZN shares. UBS Group restated a “buy” rating on shares of Astrazeneca in a research report on Friday, April 10th. TD Cowen reiterated a “buy” rating on shares of Astrazeneca in a research note on Wednesday, March 18th. DZ Bank raised shares of Astrazeneca from a “neutral” rating to a “buy” rating in a report on Wednesday, April 29th. Sanford C. Bernstein restated a “buy” rating on shares of Astrazeneca in a research report on Monday, May 4th. Finally, Barclays reaffirmed 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 given a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $211.00.

Key Headlines Impacting 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

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.