Astrazeneca Plc $AZN Shares Sold by NewEdge Advisors LLC

Key Points

• NewEdge Advisors cut its AstraZeneca holdings by 56.8% in the first quarter, selling 50,971 shares and retaining 38,841 shares valued at approximately $7.66 million.
• Other major institutional investors significantly increased their positions, including Amundi, Janus Henderson, and Royal Bank of Canada; institutional investors collectively own 20.35% of AstraZeneca.
• AstraZeneca reported quarterly EPS of $2.63, beating estimates of $2.50, while revenue rose 6.4% year over year to $15.38 billion. Analysts maintain a “Moderate Buy” consensus rating with a $211 average price target.

NewEdge Advisors LLC reduced its holdings in Astrazeneca Plc (NYSE:AZN - Free Report) by 56.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 38,841 shares of the company's stock after selling 50,971 shares during the period. NewEdge Advisors LLC's holdings in Astrazeneca were worth $7,660,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently bought and sold shares of the business. Amundi boosted its holdings in shares of Astrazeneca by 146,574.4% during the 1st quarter. Amundi now owns 15,386,149 shares of the company's stock worth $3,034,456,000 after purchasing an additional 15,375,659 shares during the last quarter. Janus Henderson Group PLC lifted its position in Astrazeneca by 889.9% during the first quarter. Janus Henderson Group PLC now owns 11,949,424 shares of the company's stock worth $2,319,947,000 after buying an additional 10,742,268 shares in the last quarter. Royal Bank of Canada boosted its stake in Astrazeneca by 208.6% during the first quarter. Royal Bank of Canada now owns 10,386,455 shares of the company's stock worth $2,048,417,000 after buying an additional 7,021,126 shares during the last quarter. Swiss National Bank acquired a new position in Astrazeneca during the first quarter worth $1,202,714,000. Finally, SEB Asset Management AB purchased a new stake in Astrazeneca in the 1st quarter valued at $1,157,593,000. Hedge funds and other institutional investors own 20.35% of the company's stock.

Astrazeneca Stock Up 0.2%

Astrazeneca stock opened at $161.80 on Tuesday. The firm has a market capitalization of $250.94 billion, a P/E ratio of 24.19, a P/E/G ratio of 1.39 and a beta of 0.26. The company has a current ratio of 0.89, a quick ratio of 0.67 and a debt-to-equity ratio of 0.47. Astrazeneca Plc has a twelve month low of $145.79 and a twelve month high of $212.71. The stock's fifty day simple moving average is $175.98 and its 200-day simple moving average is $186.98.

Astrazeneca (NYSE:AZN - Get Free Report) last released its 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 firm had revenue of $15.38 billion during 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%.Astrazeneca's revenue for the quarter was up 6.4% on a year-over-year basis. During the same period in the previous year, the firm posted $2.17 EPS. As a group, equities analysts expect that Astrazeneca Plc will post 10.22 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on AZN shares. Sanford C. Bernstein reiterated a "buy" rating on shares of Astrazeneca in a report on Monday, May 4th. The Goldman Sachs Group reissued a "buy" rating on shares of Astrazeneca in a report on Wednesday, July 1st. Bank of America restated a "buy" rating on shares of Astrazeneca in a research report on Wednesday, July 1st. Jefferies Financial Group reiterated a "buy" rating on shares of Astrazeneca in a report on Friday, June 26th. Finally, DZ Bank raised shares of Astrazeneca from a "neutral" rating to a "buy" rating in a research note on Wednesday, April 29th. Twelve investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, Astrazeneca currently has an average rating of "Moderate Buy" and a consensus price target of $211.00.

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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