Canandaigua National Bank & Trust Co. Purchases 11,271 Shares of Astrazeneca Plc $AZN

Key Points

• Canandaigua National Bank & Trust purchased 11,271 AstraZeneca shares in the third quarter, valued at approximately $1.84 million. Institutional investors and hedge funds collectively own 20.35% of the company.
• Analysts remain broadly positive, with 14 Buy ratings, three Holds and one Sell; AstraZeneca has a “Moderate Buy” consensus rating and an average price target of $206.67.
• AstraZeneca is investing heavily in future growth, including a $1 billion global R&D center in Massachusetts and a $2 billion investment in Summit Therapeutics, while shares recently traded near $160.18—well below their 52-week high of $212.71.

Canandaigua National Bank & Trust Co. purchased a new stake in Astrazeneca Plc (NYSE:AZN - Free Report) in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 11,271 shares of the company's stock, valued at approximately $1,835,000.

Other large investors also recently bought and sold shares of the company. MV Capital Management Inc. acquired a new stake in shares of Astrazeneca in the 4th quarter valued at about $26,000. Mascoma Wealth Management LLC acquired a new position in Astrazeneca during the first quarter worth approximately $26,000. Roxbury Financial LLC purchased a new stake in Astrazeneca in the second quarter valued at approximately $29,000. Reflection Asset Management purchased a new stake in Astrazeneca in the fourth quarter valued at approximately $31,000. Finally, Resources Management Corp CT ADV acquired a new stake in shares of Astrazeneca in the first quarter valued at approximately $35,000. Institutional investors and hedge funds own 20.35% of the company's stock.

More Astrazeneca News

Here are the key news stories impacting Astrazeneca this week:

• Positive Sentiment: Analysts remain bullish ahead of third-quarter results. Jefferies reiterated its “buy” rating and 17,500-pence price target, citing expectations for revenue roughly 1% above consensus and core EBIT about 3% ahead of forecasts. Jefferies maintains buy rating on AstraZeneca
• Positive Sentiment: Citi raised its price target to £186 from £178 and maintained a “buy” rating. The broker increased its peak-sales forecast for tozorakimab to $7 billion and SERENA-6 to $1.1 billion, more than offsetting the removal of its $1.7 billion forecast for SERENA-4. Citi raises AstraZeneca target
• Positive Sentiment: AstraZeneca opened a $1 billion global R&D center in Kendall Square, Massachusetts. The facility will combine oncology, cell therapy, chronic and rare disease, and obesity research, using robotics and artificial intelligence to support drug development and strengthen the company’s long-term pipeline. AstraZeneca opens new R&D hub
• Positive Sentiment: AstraZeneca completed a $2 billion investment in Summit Therapeutics, expanding its exposure to Summit’s drug-development programs and potentially adding future growth to its oncology portfolio. AstraZeneca completes investment in Summit Therapeutics
• Neutral Sentiment: Valuation appears reasonable based on current earnings, which may limit concerns about overpricing, although investors still await third-quarter results for confirmation of operating momentum. AstraZeneca stock valuation analysis

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Citigroup reaffirmed a "buy" rating on shares of Astrazeneca in a report on Tuesday. Deutsche Bank Aktiengesellschaft upgraded shares of Astrazeneca from a "sell" rating to a "hold" rating in a research note on Tuesday, September 15th. Bank of America restated a "buy" rating on shares of Astrazeneca in a research note on Wednesday, July 1st. The Goldman Sachs Group reaffirmed a "buy" rating on shares of Astrazeneca in a report on Wednesday, July 1st. Finally, Royal Bank Of Canada started coverage on shares of Astrazeneca in a research note on Tuesday, September 8th. They set an "outperform" rating for the company. Fourteen analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $206.67.

Astrazeneca Stock Performance

Shares of AZN stock traded up $1.57 during mid-day trading on Wednesday, hitting $160.18. The stock had a trading volume of 2,458,447 shares, compared to its average volume of 2,798,560. Astrazeneca Plc has a fifty-two week low of $153.41 and a fifty-two week high of $212.71. The firm has a market cap of $248.42 billion, a PE ratio of 23.94, a PEG ratio of 1.32 and a beta of 0.27. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.89 and a quick ratio of 0.67. The company's 50-day simple moving average is $162.67 and its 200-day simple moving average is $177.48.

Astrazeneca (NYSE:AZN - Get Free Report) last announced its quarterly earnings data on Monday, July 27th. The company reported $2.63 EPS for the quarter, beating analysts' consensus estimates of $2.50 by $0.13. Astrazeneca had a net margin of 17.02% and a return on equity of 31.45%. The firm had revenue of $15.38 billion during the quarter, compared to the consensus estimate of $15.44 billion. During the same quarter last year, the firm earned $2.17 earnings per share. The firm's revenue was up 6.4% compared to the same quarter last year. Sell-side analysts anticipate that Astrazeneca Plc will post 9.37 earnings per share for the current year.

Astrazeneca Profile

AstraZeneca PLC is a global biopharmaceutical company headquartered in Cambridge, United Kingdom. Its research, development and commercial operations focus on prescription medicines for serious and chronic diseases, with an emphasis on discovering and delivering innovative therapies rather than operating as a diversified healthcare conglomerate.

The company's principal therapeutic areas include oncology; cardiovascular, renal and metabolic diseases; respiratory and immunological conditions; and rare diseases.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.