Versant Capital Management Inc Invests $1.36 Million in Astrazeneca Plc $AZN

Versant Capital Management Inc acquired a new stake in Astrazeneca Plc (NYSE:AZN) during the 2nd quarter, Holdings Channel reports. The institutional investor acquired 7,263 shares of the company’s stock, valued at approximately $1,361,000.

A number of other institutional investors have also modified their holdings of AZN. Triumph Capital Management purchased a new position in Astrazeneca in the third quarter valued at approximately $25,000. MV Capital Management Inc. purchased a new stake in Astrazeneca during the fourth quarter worth approximately $26,000. Mascoma Wealth Management LLC acquired a new stake in shares of Astrazeneca in the first quarter worth $26,000. Roxbury Financial LLC purchased a new position in shares of Astrazeneca in the 2nd quarter valued at $29,000. Finally, Eagle Bay Advisors LLC acquired a new position in shares of Astrazeneca during the 4th quarter valued at $30,000. Hedge funds and other institutional investors own 20.35% of the company’s stock.

Astrazeneca Stock Performance

NYSE:AZN opened at $158.21 on Tuesday. The firm has a 50-day moving average of $178.44 and a two-hundred day moving average of $187.69. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.89 and a quick ratio of 0.67. The stock has a market cap of $245.37 billion, a P/E ratio of 23.65, a PEG ratio of 1.47 and a beta of 0.26. Astrazeneca Plc has a 1-year low of $145.79 and a 1-year high of $212.71.

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

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Morgan Stanley reiterated an “overweight” rating on shares of Astrazeneca in a report on Wednesday, April 8th. Weiss Ratings downgraded Astrazeneca from a “buy (b-)” rating to a “hold (c+)” rating in a report on Tuesday, July 28th. Jefferies Financial Group reissued a “buy” rating on shares of Astrazeneca in a research report on Friday, June 26th. JPMorgan Chase & Co. restated a “buy” rating on shares of Astrazeneca in a report on Tuesday, June 30th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “sell” rating on shares of Astrazeneca in a research note on Tuesday, June 30th. Twelve investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $211.00.

Key Stories 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 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.