Astrazeneca Plc $AZN Shares Sold by Frank Rimerman Advisors LLC

Frank Rimerman Advisors LLC lowered its position in Astrazeneca Plc (NYSE:AZN) by 49.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,644 shares of the company’s stock after selling 12,524 shares during the quarter. Frank Rimerman Advisors LLC’s holdings in Astrazeneca were worth $2,494,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in AZN. Triumph Capital Management acquired a new stake in Astrazeneca in the 3rd quarter valued at about $25,000. MV Capital Management Inc. purchased a new position in Astrazeneca during the 4th quarter valued at about $26,000. Bangor Savings Bank raised its position in Astrazeneca by 102.7% during the fourth quarter. Bangor Savings Bank now owns 304 shares of the company’s stock worth $28,000 after acquiring an additional 154 shares during the last quarter. Eagle Bay Advisors LLC acquired a new position in Astrazeneca during the fourth quarter worth about $30,000. Finally, YANKCOM Partnership purchased a new stake in shares of Astrazeneca in the fourth quarter valued at about $31,000. Institutional investors and hedge funds own 20.35% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently commented on AZN shares. Wall Street Zen upgraded shares of Astrazeneca from a “hold” rating to a “buy” rating in a research report on Saturday, May 2nd. TD Cowen restated a “buy” rating on shares of Astrazeneca in a research report on Wednesday, March 18th. JPMorgan Chase & Co. reaffirmed a “buy” rating on shares of Astrazeneca in a research note on Tuesday, June 30th. UBS Group reiterated a “buy” rating on shares of Astrazeneca in a report on Friday, April 10th. Finally, Barclays reissued a “buy” rating on shares of Astrazeneca in a research report on Monday, June 1st. Fourteen analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $211.00.

Trending Headlines about Astrazeneca

Here are the key news stories impacting Astrazeneca this week:

• Negative Sentiment: AstraZeneca said its Wainua drug failed to meet the main goal in a Phase III trial for a serious heart disease, a setback that hit investor confidence because the medicine had been one of the company’s more closely watched pipeline assets. Reuters article on Wainua trial failure
• Negative Sentiment: The trial failure was described as a significant valuation hit, with reports saying the stock dropped nearly 10% in London trading and erased roughly £19 billion from AstraZeneca’s market value. Proactive Investors article on valuation impact
• Neutral Sentiment: Reuters reported earlier in the week that AstraZeneca and Daiichi Sankyo were nearing a UK pricing deal for the breast cancer drug Enhertu, which could support the company’s commercial outlook if finalized. Reuters article on Enhertu pricing deal
• Neutral Sentiment: AstraZeneca also announced a new respiratory-drug licensing deal with Sino Biopharmaceutical worth up to $1.9 billion, including $200 million upfront, underscoring continued pipeline investment even as the market focuses on the trial miss. Reuters article on Sino Biopharma licensing deal

Astrazeneca Stock Performance

Shares of NYSE AZN opened at $189.41 on Thursday. The company has a market cap of $293.76 billion, a PE ratio of 28.44, a price-to-earnings-growth ratio of 1.57 and a beta of 0.24. Astrazeneca Plc has a 12 month low of $137.23 and a 12 month high of $212.71. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.91 and a quick ratio of 0.71. The company has a 50-day simple moving average of $184.14 and a 200-day simple moving average of $188.61.

Astrazeneca (NYSE:AZN) last posted its quarterly earnings data on Wednesday, April 29th. The company reported $2.58 earnings per share for the quarter, beating analysts’ consensus estimates of $2.52 by $0.06. The business 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%. On average, equities analysts anticipate that Astrazeneca Plc will post 10.28 earnings per share for the current year.

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.