Astrazeneca Plc $AZN Position Lowered by Marks Group Wealth Management Inc

Key Points

• Marks Group Wealth Management cut its AstraZeneca position by 51.2% in the first quarter, selling 19,345 shares and ending with 18,442 shares worth about $3.64 million.
• AstraZeneca shares were up 2.3% and the stock recently traded at $168.27, below both its 50-day and 200-day moving averages. The company’s market cap is about $261 billion.
• The company reported better-than-expected Q1 results, with earnings of $2.58 per share and revenue of $15.29 billion. Analysts remain mostly positive, with a consensus rating of Moderate Buy and a target price of $211.

Marks Group Wealth Management Inc reduced its position in Astrazeneca Plc (NYSE:AZN - Free Report) by 51.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 18,442 shares of the company's stock after selling 19,345 shares during the quarter. Marks Group Wealth Management Inc's holdings in Astrazeneca were worth $3,637,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Brighton Jones LLC lifted its stake in Astrazeneca by 93.2% during the fourth quarter. Brighton Jones LLC now owns 5,782 shares of the company's stock worth $379,000 after purchasing an additional 2,789 shares during the last quarter. AQR Capital Management LLC increased its stake in Astrazeneca by 45.3% during the first quarter. AQR Capital Management LLC now owns 37,501 shares of the company's stock valued at $2,756,000 after purchasing an additional 11,690 shares during the last quarter. Amundi increased its stake in Astrazeneca by 54.4% during the second quarter. Amundi now owns 10,274 shares of the company's stock valued at $731,000 after purchasing an additional 3,618 shares during the last quarter. Jump Financial LLC raised its holdings in shares of Astrazeneca by 898.4% during the second quarter. Jump Financial LLC now owns 33,478 shares of the company's stock worth $2,339,000 after purchasing an additional 30,125 shares during the period. Finally, Daiwa Securities Group Inc. lifted its position in shares of Astrazeneca by 1.2% in the 2nd quarter. Daiwa Securities Group Inc. now owns 46,642 shares of the company's stock worth $3,259,000 after buying an additional 559 shares during the last quarter. Institutional investors and hedge funds own 20.35% of the company's stock.

Astrazeneca Trading Up 2.3%

Astrazeneca stock opened at $168.27 on Thursday. The firm has a 50 day simple moving average of $182.71 and a 200-day simple moving average of $188.52. 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 stock has a market capitalization of $260.97 billion, a PE ratio of 25.27, a price-to-earnings-growth ratio of 1.34 and a beta of 0.24. Astrazeneca Plc has a 12-month low of $137.23 and a 12-month high of $212.71.

Astrazeneca (NYSE:AZN - Get Free Report) last announced its 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 for the quarter, compared to analysts' expectations of $14.93 billion. Astrazeneca had a return on equity of 30.86% and a net margin of 17.19%. As a group, equities research analysts expect that Astrazeneca Plc will post 10.26 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on AZN shares. DZ Bank raised shares of Astrazeneca from a "neutral" rating to a "buy" rating in a report on Wednesday, April 29th. Barclays reiterated a "buy" rating on shares of Astrazeneca in a research note on Monday, June 1st. Weiss Ratings cut shares of Astrazeneca from a "buy (b)" rating to a "buy (b-)" rating in a report on Thursday, June 18th. UBS Group restated a "buy" rating on shares of Astrazeneca in a research note on Friday, April 10th. Finally, The Goldman Sachs Group reaffirmed a "buy" rating on shares of Astrazeneca in a research report on Wednesday, July 1st. Thirteen equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $211.00.

Astrazeneca News Summary

Here are the key news stories impacting Astrazeneca this week:

• Positive Sentiment: AstraZeneca agreed to pay up to $1.5 billion for global rights to Zegfrovy (sunvozertinib) from Dizal, adding an already marketed EGFR therapy to its oncology pipeline and expanding its presence in non-small cell lung cancer, including key markets such as the U.S. and China. Article Title
• Positive Sentiment: The deal includes a $600 million upfront payment and could provide a new commercial growth driver, which may help offset recent worries around AstraZeneca’s pipeline and support longer-term revenue growth. Article Title
• Neutral Sentiment: Several reports repeated the same transaction details, reinforcing the strategic importance of the licensing move but adding little new information beyond the initial announcement. Article Title
• Negative Sentiment: Investor-alert stories highlighted pending investigations tied to AstraZeneca and referenced the earlier Wainua trial miss, which had pressured shares after the Phase III CARDIO-TTransform study failed its primary endpoint in ATTR cardiomyopathy. Article Title

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.

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