Citizens National Bank Trust Department Lowers Stake in Astrazeneca Plc $AZN

Key Points

• Citizens National Bank Trust Department cut its AstraZeneca stake by 50.9% in the first quarter, leaving it with 12,942 shares worth about $2.5 million.
• Despite mixed institutional activity, analysts remain broadly constructive on AZN: 14 analysts rate it a Buy, one a Sell, and the consensus target price is $211.
• AstraZeneca’s latest results were better than expected, with quarterly EPS of $2.58 versus $2.52 expected and revenue of $15.29 billion, while the stock traded at $171.86 and was up 0.1% on the day.

Citizens National Bank Trust Department reduced its stake in shares of Astrazeneca Plc (NYSE:AZN - Free Report) by 50.9% in the first quarter, according to its most recent filing with the SEC. The fund owned 12,942 shares of the company's stock after selling 13,426 shares during the period. Citizens National Bank Trust Department's holdings in Astrazeneca were worth $2,506,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Mascoma Wealth Management LLC purchased a new stake in Astrazeneca during the first quarter valued at about $26,000. MV Capital Management Inc. purchased a new position in shares of Astrazeneca in the 4th quarter worth about $26,000. Reflection Asset Management bought a new position in shares of Astrazeneca during the 4th quarter valued at about $31,000. Raleigh Capital Management Inc. bought a new position in shares of Astrazeneca during the 1st quarter valued at about $38,000. Finally, Avion Wealth raised its holdings in shares of Astrazeneca by 166.2% during the 1st quarter. Avion Wealth now owns 197 shares of the company's stock valued at $38,000 after buying an additional 123 shares in the last quarter. 20.35% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the company. Barclays restated a "buy" rating on shares of Astrazeneca in a research report on Monday, June 1st. Weiss Ratings cut shares of Astrazeneca from a "buy (b)" rating to a "buy (b-)" rating in a research report on Thursday, June 18th. JPMorgan Chase & Co. reissued a "buy" rating on shares of Astrazeneca in a research note on Tuesday, June 30th. UBS Group restated a "buy" rating on shares of Astrazeneca in a report on Friday, April 10th. Finally, Sanford C. Bernstein reaffirmed a "buy" rating on shares of Astrazeneca in a research note on Monday, May 4th. Fourteen investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Astrazeneca has a consensus rating of "Moderate Buy" and a consensus target price of $211.00.

Astrazeneca Trading Up 0.1%

Shares of AZN stock opened at $171.86 on Monday. The stock has a market capitalization of $266.54 billion, a PE ratio of 25.80, a P/E/G ratio of 1.39 and a beta of 0.24. Astrazeneca Plc has a 1-year low of $137.23 and a 1-year high of $212.71. The business has a 50-day moving average of $183.68 and a 200 day moving average of $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 results 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 business had revenue of $15.29 billion for 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%. As a group, sell-side analysts anticipate that Astrazeneca Plc will post 10.28 earnings per share for the current year.

Trending Headlines about Astrazeneca

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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