Astrazeneca Plc $AZN Shares Sold by Burney Co.

Burney Co. reduced its holdings in shares of Astrazeneca Plc (NYSE:AZN) by 69.3% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,458 shares of the company’s stock after selling 10,078 shares during the quarter. Burney Co.’s holdings in Astrazeneca were worth $879,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Triumph Capital Management acquired a new stake in shares of Astrazeneca in the third quarter valued at approximately $25,000. MV Capital Management Inc. acquired a new position in shares of Astrazeneca during the 4th quarter worth approximately $26,000. Bangor Savings Bank lifted its stake in Astrazeneca by 102.7% in the 4th quarter. Bangor Savings Bank now owns 304 shares of the company’s stock valued at $28,000 after buying an additional 154 shares in the last quarter. Eagle Bay Advisors LLC purchased a new stake in Astrazeneca in the 4th quarter valued at approximately $30,000. Finally, YANKCOM Partnership acquired a new stake in Astrazeneca during the 4th quarter valued at $31,000. Institutional investors and hedge funds own 20.35% of the company’s stock.

More Astrazeneca News

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

Astrazeneca Price Performance

AZN opened at $178.46 on Friday. Astrazeneca Plc has a 1 year low of $137.23 and a 1 year high of $212.71. The company’s 50 day simple moving average is $183.99 and its 200 day simple moving average is $188.61. The stock has a market capitalization of $276.77 billion, a PE ratio of 26.80, a P/E/G ratio of 1.53 and a beta of 0.24. 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 issued its quarterly earnings results on Wednesday, April 29th. The company reported $2.58 EPS for the quarter, topping the consensus estimate 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%. As a group, sell-side analysts expect that Astrazeneca Plc will post 10.28 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on AZN shares. JPMorgan Chase & Co. reissued a “buy” rating on shares of Astrazeneca in a report on Tuesday, June 30th. TD Cowen reiterated a “buy” rating on shares of Astrazeneca in a research report on Wednesday, March 18th. Jefferies Financial Group reissued a “buy” rating on shares of Astrazeneca in a research note on Friday, June 26th. Deutsche Bank Aktiengesellschaft restated a “sell” rating on shares of Astrazeneca in a report on Tuesday, June 30th. Finally, Morgan Stanley reiterated an “overweight” rating on shares of Astrazeneca in a report on Wednesday, April 8th. Fourteen equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $211.00.

Astrazeneca 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.