Astrazeneca Plc $AZN Shares Bought by Diversify Wealth Management LLC

Key Points

• Diversify Wealth Management LLC boosted its AstraZeneca stake by 184% in the first quarter, ending with 11,855 shares valued at about $2.2 million.
• Wall Street sentiment remains generally positive, with several firms reaffirming Buy ratings and AstraZeneca carrying an average Moderate Buy rating and a $211 price target.
• The company’s latest quarterly results beat expectations, reporting $2.58 EPS and $15.29 billion in revenue, while news this week highlighted an exclusive global license deal for the lung-cancer drug Zegfrovy.

Diversify Wealth Management LLC increased its stake in shares of Astrazeneca Plc (NYSE:AZN - Free Report) by 184.0% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,855 shares of the company's stock after buying an additional 7,681 shares during the quarter. Diversify Wealth Management LLC's holdings in Astrazeneca were worth $2,196,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the company. Triumph Capital Management bought a new stake in Astrazeneca during the 3rd quarter valued at $25,000. MV Capital Management Inc. bought a new position in shares of Astrazeneca during the 4th quarter valued at about $26,000. Mascoma Wealth Management LLC bought a new stake in Astrazeneca during the first quarter worth approximately $26,000. Bangor Savings Bank grew its holdings in shares of Astrazeneca by 102.7% in the 4th 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. Finally, Eagle Bay Advisors LLC purchased a new position in Astrazeneca in the 4th quarter worth about $30,000. Institutional investors and hedge funds own 20.35% of the company's stock.

Key Astrazeneca News

Here are the key news stories impacting Astrazeneca this week:

• Positive Sentiment: AstraZeneca struck an exclusive global license deal for the lung-cancer drug Zegfrovy, a move that could strengthen its oncology pipeline and long-term growth prospects. Article Title
• Positive Sentiment: UBS reiterated a Buy rating ahead of second-quarter results, saying AstraZeneca should deliver solid earnings and revenue. Article Title
• Neutral Sentiment: Analysts from both the U.S. and U.K. cited a mixed setup, with some optimism on near-term results but limited scope for AstraZeneca to raise full-year guidance. Article Title
• Negative Sentiment: HSBC downgraded AstraZeneca to Hold and cut its price target after the Wainua Phase 3 failure, saying the setback weakens the stock’s bull case. Article Title

Wall Street Analyst Weigh In

AZN has been the topic of several recent analyst reports. The Goldman Sachs Group reissued a "buy" rating on shares of Astrazeneca in a research note on Wednesday, July 1st. Sanford C. Bernstein reiterated a "buy" rating on shares of Astrazeneca in a research note on Monday, May 4th. Barclays reiterated a "buy" rating on shares of Astrazeneca in a research note on Monday, June 1st. Bank of America reiterated a "buy" rating on shares of Astrazeneca in a research note on Wednesday, July 1st. Finally, UBS Group reaffirmed a "buy" rating on shares of Astrazeneca in a research report on Friday, April 10th. 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. According to MarketBeat.com, Astrazeneca currently has an average rating of "Moderate Buy" and an average price target of $211.00.

Astrazeneca Stock Down 1.1%

Shares of AZN opened at $169.79 on Tuesday. The company has a 50-day moving average price of $183.38 and a two-hundred day moving average price of $188.67. Astrazeneca Plc has a 12 month low of $137.23 and a 12 month high of $212.71. The stock has a market cap of $263.32 billion, a price-to-earnings ratio of 25.49, a P/E/G ratio of 1.39 and a beta of 0.24. The company has a quick ratio of 0.71, a current ratio of 0.91 and a debt-to-equity ratio of 0.52.

Astrazeneca (NYSE:AZN - Get Free Report) last released its quarterly earnings data on Wednesday, April 29th. The company reported $2.58 earnings per share (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 return on equity of 30.86% and a net margin of 17.19%. Equities analysts predict that Astrazeneca Plc will post 10.28 EPS for the current fiscal year.

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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