Grove Bank & Trust Acquires New Position in Astrazeneca Plc $AZN

Grove Bank & Trust acquired a new stake in Astrazeneca Plc (NYSE:AZN) during the second quarter, HoldingsChannel reports. The fund acquired 5,776 shares of the company’s stock, valued at approximately $1,095,000.

A number of other institutional investors have also recently bought and sold shares of AZN. CoreCap Advisors LLC bought a new stake in shares of Astrazeneca during the 2nd quarter valued at $98,000. Howard Financial Services LTD. bought a new position in shares of Astrazeneca in the 2nd quarter worth $402,000. Kozak & Associates Inc. bought a new position in shares of Astrazeneca in the 2nd quarter worth $47,000. MassMutual Private Wealth & Trust FSB acquired a new stake in shares of Astrazeneca during the second quarter worth $657,000. Finally, Versant Capital Management Inc acquired a new stake in shares of Astrazeneca during the second quarter worth $1,361,000. Institutional investors and hedge funds own 20.35% of the company’s stock.

Astrazeneca Stock Performance

Shares of NYSE AZN opened at $155.79 on Wednesday. The stock has a 50 day moving average price of $177.81 and a 200 day moving average price of $187.53. Astrazeneca Plc has a 52 week low of $145.79 and a 52 week high of $212.71. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.67 and a current ratio of 0.89. The stock has a market capitalization of $241.61 billion, a PE ratio of 23.29, a price-to-earnings-growth ratio of 1.36 and a beta of 0.26.

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

More Astrazeneca News

Here are the key news stories impacting Astrazeneca this week:

• Positive Sentiment: AstraZeneca entered a multiyear collaboration with SOPHiA GENETICS to develop and commercialize two companion diagnostics for precision-oncology therapies. The agreement could support more targeted use of AstraZeneca’s cancer medicines and strengthen its precision-medicine pipeline. SOPHiA GENETICS collaboration announcement
• Positive Sentiment: Citi said a significant portion of the potential deal risk may already be reflected in AstraZeneca’s share price following Monday’s decline. Analysts also noted that a combined company could generate meaningful cost savings and broaden its pharmaceutical portfolio if a transaction were completed. Brokers split on AstraZeneca merger talk
• Neutral Sentiment: The reported merger discussions remain preliminary and may not lead to a transaction. RBC reportedly considers an AstraZeneca-Bristol Myers combination unlikely for now, while other banks see potential strategic parallels with AstraZeneca’s Alexion acquisition. RBC view on potential AstraZeneca-Bristol Myers deal
• Negative Sentiment: Investors have reacted negatively to the possibility of a megamerger, with analysts questioning why AstraZeneca would pursue Bristol Myers and whether the cost, financing burden, and integration complexity would outweigh potential benefits. The market’s response suggests AstraZeneca shareholders currently view the proposal as more likely to destroy value than create it. AstraZeneca shares drop after merger report
• Negative Sentiment: Pomerantz LLP announced an investigation into potential claims on behalf of AstraZeneca investors. The announcement does not establish wrongdoing, but securities-law investigations can add reputational and legal uncertainty. Pomerantz investor alert

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on AZN. Sanford C. Bernstein restated a “buy” rating on shares of Astrazeneca in a report on Monday, May 4th. JPMorgan Chase & Co. reaffirmed a “buy” rating on shares of Astrazeneca in a research note on Tuesday, June 30th. Barclays reiterated a “buy” rating on shares of Astrazeneca in a research report on Monday, June 1st. Deutsche Bank Aktiengesellschaft reissued a “sell” rating on shares of Astrazeneca in a research note on Tuesday, June 30th. Finally, HSBC cut shares of Astrazeneca from a “buy” rating to a “hold” rating in a report on Monday, July 13th. Twelve research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target 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.