Miller Global Investments LLC Purchases New Position in Astrazeneca Plc $AZN

Miller Global Investments LLC acquired a new position in Astrazeneca Plc (NYSE:AZN) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 3,706 shares of the company’s stock, valued at approximately $703,000.

Several other institutional investors have also added to or reduced their stakes in the business. Triumph Capital Management bought a new position in shares of Astrazeneca during the third quarter valued at $25,000. MV Capital Management Inc. bought a new stake in Astrazeneca in the 4th quarter worth about $26,000. Mascoma Wealth Management LLC purchased a new position in Astrazeneca in the 1st quarter worth about $26,000. Roxbury Financial LLC purchased a new position in Astrazeneca in the 2nd quarter worth about $29,000. Finally, Eagle Bay Advisors LLC bought a new position in Astrazeneca during the 4th quarter valued at about $30,000. 20.35% of the stock is currently owned by hedge funds and other institutional investors.

Key Headlines Impacting Astrazeneca

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

Shares of NYSE AZN opened at $158.21 on Tuesday. The firm has a 50 day moving average of $178.44 and a 200 day moving average of $187.69. 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 market capitalization of $245.37 billion, a price-to-earnings ratio of 23.65, a price-to-earnings-growth ratio of 1.47 and a beta of 0.26. Astrazeneca Plc has a 12-month low of $145.79 and a 12-month high of $212.71.

Astrazeneca (NYSE:AZN) last issued its quarterly earnings results on Monday, July 27th. The company reported $2.63 earnings per share for the quarter, topping the consensus estimate of $2.50 by $0.13. Astrazeneca had a net margin of 17.02% and a return on equity of 31.45%. The business had revenue of $15.38 billion for the quarter, compared to analysts’ expectations of $15.44 billion. During the same quarter last year, the company posted $2.17 EPS. The company’s revenue was up 6.4% compared to the same quarter last year. On average, research analysts anticipate that Astrazeneca Plc will post 10.22 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the stock. UBS Group reiterated a “buy” rating on shares of Astrazeneca in a research note on Friday, April 10th. Jefferies Financial Group restated a “buy” rating on shares of Astrazeneca in a report on Friday, June 26th. DZ Bank upgraded shares of Astrazeneca from a “neutral” rating to a “buy” rating in a research note on Wednesday, April 29th. Bank of America reissued a “buy” rating on shares of Astrazeneca in a report on Wednesday, July 1st. Finally, Morgan Stanley reaffirmed an “overweight” rating on shares of Astrazeneca in a report on Wednesday, April 8th. Twelve analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $211.00.

Astrazeneca Company Profile

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.