Empowered Funds LLC Sells 15,538 Shares of Astrazeneca Plc $AZN

Key Points

• Empowered Funds LLC reduced its AstraZeneca position by 44.4% in the first quarter, selling 15,538 shares and retaining 19,430 shares valued at approximately $3.83 million.
• Institutional ownership stands at 20.35%, while analysts maintain a generally positive view: 12 rate AZN a Buy, two rate it Hold and one rates it Sell. The consensus rating is Moderate Buy, with a $211 target price.
• AstraZeneca’s latest quarterly results beat EPS expectations, reporting $2.63 versus the $2.50 estimate, while revenue rose 6.4% year over year to $15.38 billion. The stock opened at $158.21, well below its 12-month high of $212.71.

Empowered Funds LLC lessened its position in Astrazeneca Plc (NYSE:AZN - Free Report) by 44.4% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 19,430 shares of the company's stock after selling 15,538 shares during the quarter. Empowered Funds LLC's holdings in Astrazeneca were worth $3,832,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in the company. IHT Wealth Management LLC lifted its position in Astrazeneca by 0.3% during the fourth quarter. IHT Wealth Management LLC now owns 17,527 shares of the company's stock valued at $3,076,000 after buying an additional 54 shares during the period. Visionary Wealth Advisors increased its position in Astrazeneca by 1.5% during the 4th quarter. Visionary Wealth Advisors now owns 4,197 shares of the company's stock valued at $737,000 after buying an additional 60 shares in the last quarter. Vista Investment Management increased its holdings in shares of Astrazeneca by 0.3% during the fourth quarter. Vista Investment Management now owns 21,215 shares of the company's stock valued at $3,723,000 after acquiring an additional 60 shares in the last quarter. Kestra Investment Management LLC increased its stake in Astrazeneca by 1.9% during the 4th quarter. Kestra Investment Management LLC now owns 3,391 shares of the company's stock valued at $595,000 after purchasing an additional 63 shares in the last quarter. Finally, Luken Investment Analytics LLC raised its holdings in Astrazeneca by 4.3% in the 4th quarter. Luken Investment Analytics LLC now owns 1,564 shares of the company's stock worth $274,000 after acquiring an additional 64 shares during the last quarter. 20.35% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on AZN. UBS Group restated a "buy" rating on shares of Astrazeneca in a research report on Friday, April 10th. Bank of America restated a "buy" rating on shares of Astrazeneca in a research note on Wednesday, July 1st. Barclays reaffirmed a "buy" rating on shares of Astrazeneca in a report on Monday, June 1st. JPMorgan Chase & Co. reissued a "buy" rating on shares of Astrazeneca in a report on Tuesday, June 30th. Finally, Wall Street Zen cut Astrazeneca from a "buy" rating to a "hold" rating in a research report on Saturday. Twelve equities research 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, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $211.00.

Trending Headlines about Astrazeneca

Here are the key news stories impacting Astrazeneca this week:

• Positive Sentiment: A combination could create significant cost savings and operating synergies. One healthcare analyst said that aggressively reducing overlapping expenses could be the primary financial rationale for the transaction. Top Healthcare Analyst: A $400 Billion AstraZeneca-Bristol Myers Deal Could “Cut Costs in a Big Way”
• Positive Sentiment: AstraZeneca was ranked among the stronger-growing large pharmaceutical companies, while Bristol Myers has lagged its peers. AstraZeneca’s growth could potentially improve the combined company’s outlook if management executes successfully. AstraZeneca tops pharma growth rankings while Bristol Myers trails amid merger talks
• Neutral Sentiment: The discussions are preliminary, and analysts said a transaction may be unlikely in the near term. Neither company has announced a definitive agreement, leaving the deal’s structure, price and timing uncertain. Potential AstraZeneca purchase of Bristol-Myers unlikely for now - analyst
• Negative Sentiment: Investors reacted negatively because the reported acquisition would be one of the largest pharmaceutical deals ever and could require AstraZeneca to pay a premium, issue debt or stock, and absorb substantial integration costs. Reports described analysts as “baffled” by the strategic logic. Analysts baffled by AstraZeneca's interest in Bristol Myers Squibb
• Negative Sentiment: Commentary indicated that AZN shareholders view the potential transaction as value-destructive, while BMY shareholders may benefit from the prospect of a premium exit. That asymmetric reaction helps explain the pressure on AstraZeneca shares. Bristol-Myers Squibb and AstraZeneca said to discuss megamerger

Astrazeneca Stock Performance

NYSE AZN opened at $158.21 on Tuesday. The company has a quick ratio of 0.67, a current ratio of 0.89 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 business has a 50-day moving average price of $178.44 and a 200-day moving average price of $187.69. The firm has a market cap of $245.37 billion, a price-to-earnings ratio of 23.65, a price-to-earnings-growth ratio of 1.47 and a beta of 0.26.

Astrazeneca (NYSE:AZN - Get Free Report) last posted its quarterly earnings results on Monday, July 27th. The company reported $2.63 EPS for the quarter, topping analysts' consensus estimates of $2.50 by $0.13. Astrazeneca had a return on equity of 31.45% and a net margin of 17.02%.The company had revenue of $15.38 billion for the quarter, compared to analysts' expectations of $15.44 billion. During the same period in the previous year, the firm earned $2.17 EPS. The firm's revenue was up 6.4% compared to the same quarter last year. As a group, equities research analysts predict that Astrazeneca Plc will post 10.22 EPS for the current fiscal year.

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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