Astrazeneca Plc $AZN Shares Sold by Lmcg Investments LLC

Key Points

• Lmcg Investments LLC cut its AstraZeneca stake by 56.5% in the first quarter, leaving it with 5,542 shares worth about $1.09 million.
• Institutional ownership remains meaningful, with hedge funds and other institutional investors holding about 20.35% of AstraZeneca’s shares; several firms recently increased positions while others added new stakes.
• Analyst sentiment is still mostly positive overall, with 14 Buy ratings and a consensus target price of $211, though some firms remain bearish and recent trial news has pressured the stock.

Lmcg Investments LLC trimmed its position in Astrazeneca Plc (NYSE:AZN - Free Report) by 56.5% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,542 shares of the company's stock after selling 7,200 shares during the quarter. Lmcg Investments LLC's holdings in Astrazeneca were worth $1,093,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the company. Integral Health Asset Management LLC boosted its position in shares of Astrazeneca by 50.0% in the third quarter. Integral Health Asset Management LLC now owns 300,000 shares of the company's stock worth $23,016,000 after buying an additional 100,000 shares during the period. Clark Capital Management Group Inc. lifted its position in Astrazeneca by 94.2% during the 3rd quarter. Clark Capital Management Group Inc. now owns 1,294,484 shares of the company's stock worth $99,313,000 after acquiring an additional 627,971 shares in the last quarter. Signet Financial Management LLC purchased a new position in Astrazeneca in the 4th quarter worth approximately $2,565,000. Boston Common Asset Management LLC boosted its holdings in Astrazeneca by 21.2% in the 4th quarter. Boston Common Asset Management LLC now owns 83,424 shares of the company's stock worth $7,669,000 after acquiring an additional 14,576 shares during the period. Finally, Westview Management dba Westview Investment Advisors acquired a new stake in Astrazeneca in the fourth quarter valued at approximately $3,598,000. Hedge funds and other institutional investors own 20.35% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. Morgan Stanley reiterated an "overweight" rating on shares of Astrazeneca in a research note on Wednesday, April 8th. TD Cowen reaffirmed a "buy" rating on shares of Astrazeneca in a report on Wednesday, March 18th. Deutsche Bank Aktiengesellschaft reaffirmed a "sell" rating on shares of Astrazeneca in a research note on Tuesday, June 30th. Wall Street Zen upgraded shares of Astrazeneca from a "hold" rating to a "buy" rating in a report on Saturday, May 2nd. Finally, UBS Group reissued a "buy" rating on shares of Astrazeneca in a research report on Friday, April 10th. Fourteen equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Astrazeneca has an average rating of "Moderate Buy" and a consensus target price of $211.00.

Key Astrazeneca News

Here are the key news stories impacting Astrazeneca this week:

• Negative Sentiment: AstraZeneca and partner Ionis said Wainua failed to meet its main goal in a late-stage trial for a rare heart condition, a disappointing result that raised concerns about the drug’s commercial potential and the strength of the company’s pipeline. Reuters article
• Negative Sentiment: Several reports said the trial miss sparked a sharp selloff in AZN shares, with investors reacting not just to the direct revenue impact but also to the hit to management credibility and confidence in late-stage development execution. Proactive Investors article
• Negative Sentiment: Market coverage highlighted that AstraZeneca’s shares were among the biggest laggards in the FTSE 100 and that the stock’s decline was tied to the surprise of missing the primary endpoint in a closely watched heart-disease study. CNBC article
• Neutral Sentiment: AstraZeneca also received a Buy rating from Bernstein, which may help offset some sentiment damage, but the upgrade was overwhelmed by the trial disappointment. Bernstein note
• Neutral Sentiment: Separately, AstraZeneca recently advanced a respiratory-drug licensing deal with Sino Biopharm, showing continued pipeline activity, but this news was not enough to offset today’s pressure from Wainua. WSJ article

Astrazeneca Stock Down 5.7%

Shares of Astrazeneca stock opened at $178.46 on Friday. The business has a 50-day moving average price of $183.99 and a 200 day moving average price of $188.61. Astrazeneca Plc has a fifty-two week low of $137.23 and a fifty-two week high of $212.71. The firm has a market cap of $276.77 billion, a P/E ratio of 26.80, a P/E/G ratio of 1.53 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 issued 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. Astrazeneca had a return on equity of 30.86% and a net margin of 17.19%.The company had revenue of $15.29 billion during the quarter, compared to analyst estimates of $14.93 billion. On average, sell-side analysts forecast that Astrazeneca Plc will post 10.28 earnings per share 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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