Astrazeneca Plc $AZN Shares Sold by Triglav Investments D.O.O.

Key Points

• Triglav Investments D.O.O. reduced its AstraZeneca stake by 63.5% in the first quarter, selling 63,617 shares and leaving it with 36,618 shares valued at about $7.2 million.
• AstraZeneca posted a strong quarter, with earnings of $2.58 per share and revenue of $15.29 billion, both ahead of analyst expectations.
• Despite recent volatility and negative news about a late-stage trial failure, Wall Street sentiment remains broadly positive, with 14 Buy ratings and an average price target of $211.

Triglav Investments D.O.O. cut its stake in Astrazeneca Plc (NYSE:AZN - Free Report) by 63.5% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 36,618 shares of the company's stock after selling 63,617 shares during the period. Triglav Investments D.O.O.'s holdings in Astrazeneca were worth $7,217,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Arrowstreet Capital Limited Partnership boosted its position in Astrazeneca by 552.9% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 5,547,597 shares of the company's stock worth $973,603,000 after purchasing an additional 4,697,895 shares in the last quarter. Pictet Asset Management Holding SA purchased a new position in shares of Astrazeneca in the first quarter valued at $675,263,000. Lansforsakringar Fondforvaltning AB publ acquired a new position in shares of Astrazeneca during the 1st quarter worth $473,782,000. ABN AMRO Bank N.V. raised its stake in shares of Astrazeneca by 32,441.5% during the 1st quarter. ABN AMRO Bank N.V. now owns 2,445,171 shares of the company's stock worth $482,158,000 after buying an additional 2,437,657 shares during the last quarter. Finally, Citigroup Inc. boosted its position in shares of Astrazeneca by 65.3% in the 4th quarter. Citigroup Inc. now owns 6,154,760 shares of the company's stock worth $1,080,160,000 after buying an additional 2,431,890 shares in the last quarter. Hedge funds and other institutional investors own 20.35% of the company's stock.

Astrazeneca Price Performance

Astrazeneca stock opened at $171.86 on Monday. Astrazeneca Plc has a 12-month low of $137.23 and a 12-month high of $212.71. The stock has a market capitalization of $266.54 billion, a P/E ratio of 25.80, a P/E/G ratio of 1.39 and a beta of 0.24. The firm's 50-day moving average is $183.68 and its two-hundred day moving average is $188.73. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.91 and a quick ratio of 0.71.

Astrazeneca (NYSE:AZN - Get Free Report) last posted its quarterly earnings data on Wednesday, April 29th. The company reported $2.58 earnings per share for the quarter, beating analysts' consensus estimates of $2.52 by $0.06. The business had revenue of $15.29 billion during the quarter, compared to analyst estimates of $14.93 billion. Astrazeneca had a net margin of 17.19% and a return on equity of 30.86%. Equities analysts predict that Astrazeneca Plc will post 10.28 earnings per share for the current year.

Analyst Upgrades and Downgrades

AZN has been the topic of a number of research reports. JPMorgan Chase & Co. reissued a "buy" rating on shares of Astrazeneca in a research note on Tuesday, June 30th. Morgan Stanley reaffirmed an "overweight" rating on shares of Astrazeneca in a report on Wednesday, April 8th. Wall Street Zen upgraded shares of Astrazeneca from a "hold" rating to a "buy" rating in a research report on Saturday, May 2nd. Bank of America reissued a "buy" rating on shares of Astrazeneca in a research note on Wednesday, July 1st. Finally, Sanford C. Bernstein restated a "buy" rating on shares of Astrazeneca in a research report on Monday, May 4th. Fourteen investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $211.00.

Astrazeneca News Roundup

Here are the key news stories impacting Astrazeneca this week:

• Negative Sentiment: Wainua’s Phase 3 failure removes a potential growth driver and raises concerns about AstraZeneca’s ability to expand successfully beyond oncology. Reuters: AstraZeneca-Ionis drug fails to meet main goal in late-stage heart disease trial
• Negative Sentiment: Several reports say the miss has hurt management credibility and triggered a sharp market selloff, with investors reassessing the value of AstraZeneca’s pipeline. Proactive Investors: AstraZeneca's Wainua failure hurts credibility more than valuation, Jefferies warns
• Neutral Sentiment: Some analysts still maintained a constructive view, with Bernstein reportedly reiterating a buy rating despite the setback, suggesting the longer-term thesis is not fully broken. Globe and Mail/Bernstein note: AstraZeneca receives a Buy from Bernstein
• Negative Sentiment: Investor concern has also expanded into legal overhangs, with a pending investigation notice adding another source of pressure on the stock. PR Newswire: AstraZeneca Investigation Notice

About Astrazeneca

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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