Hartford Funds Management Co LLC Sells 6,190 Shares of Astrazeneca Plc $AZN

Key Points

• Hartford Funds Management cut its AstraZeneca stake by 51.5% in the first quarter, selling 6,190 shares and leaving it with 5,837 shares valued at about $1.13 million.
• Analyst sentiment remains broadly positive: AstraZeneca has a consensus rating of Moderate Buy, with 13 Buy ratings, one Hold, and one Sell, and an average target price of $211.
• The company reported better-than-expected quarterly results, posting EPS of $2.58 versus estimates of $2.52 and revenue of $15.29 billion versus expectations of $14.93 billion, even as the stock traded down 1.1% to $169.79.

Hartford Funds Management Co LLC cut its stake in Astrazeneca Plc (NYSE:AZN - Free Report) by 51.5% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 5,837 shares of the company's stock after selling 6,190 shares during the quarter. Hartford Funds Management Co LLC's holdings in Astrazeneca were worth $1,134,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in AZN. Brighton Jones LLC boosted its position in shares of Astrazeneca by 93.2% in the fourth quarter. Brighton Jones LLC now owns 5,782 shares of the company's stock valued at $379,000 after acquiring an additional 2,789 shares during the period. AQR Capital Management LLC grew its stake in Astrazeneca by 45.3% during the first quarter. AQR Capital Management LLC now owns 37,501 shares of the company's stock valued at $2,756,000 after acquiring an additional 11,690 shares in the last quarter. Amundi increased its holdings in Astrazeneca by 54.4% during the 2nd quarter. Amundi now owns 10,274 shares of the company's stock worth $731,000 after acquiring an additional 3,618 shares during the period. Jump Financial LLC increased its holdings in Astrazeneca by 898.4% during the 2nd quarter. Jump Financial LLC now owns 33,478 shares of the company's stock worth $2,339,000 after acquiring an additional 30,125 shares during the period. Finally, Daiwa Securities Group Inc. lifted its stake in Astrazeneca by 1.2% in the 2nd quarter. Daiwa Securities Group Inc. now owns 46,642 shares of the company's stock worth $3,259,000 after purchasing an additional 559 shares in the last quarter. 20.35% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts have commented on AZN shares. Deutsche Bank Aktiengesellschaft reissued a "sell" rating on shares of Astrazeneca in a report on Tuesday, June 30th. Morgan Stanley reiterated an "overweight" rating on shares of Astrazeneca in a research report on Wednesday, April 8th. DZ Bank raised Astrazeneca from a "neutral" rating to a "buy" rating in a research note on Wednesday, April 29th. Jefferies Financial Group restated a "buy" rating on shares of Astrazeneca in a research report on Friday, June 26th. Finally, Barclays restated a "buy" rating on shares of Astrazeneca in a research note on Monday, June 1st. Thirteen investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Astrazeneca has a consensus rating of "Moderate Buy" and an average target price of $211.00.

Astrazeneca Stock Down 1.1%

Shares of NYSE:AZN opened at $169.79 on Tuesday. Astrazeneca Plc has a 52-week low of $137.23 and a 52-week high of $212.71. The firm has a fifty day moving average of $183.38 and a 200 day moving average of $188.67. The firm has a market capitalization of $263.32 billion, a PE ratio of 25.49, a price-to-earnings-growth ratio of 1.39 and a beta of 0.24. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.71 and a current ratio of 0.91.

Astrazeneca (NYSE:AZN - Get Free Report) last released its earnings results on Wednesday, April 29th. The company reported $2.58 EPS for the quarter, beating analysts' consensus estimates of $2.52 by $0.06. Astrazeneca had a return on equity of 30.86% and a net margin of 17.19%.The business had revenue of $15.29 billion for the quarter, compared to analysts' expectations of $14.93 billion. As a group, research analysts anticipate that Astrazeneca Plc will post 10.28 EPS for the current fiscal year.

Key Headlines Impacting Astrazeneca

Here are the key news stories impacting Astrazeneca this week:

• Positive Sentiment: AstraZeneca struck an exclusive global license deal for the lung-cancer drug Zegfrovy, a move that could strengthen its oncology pipeline and long-term growth prospects. Article Title
• Positive Sentiment: UBS reiterated a Buy rating ahead of second-quarter results, saying AstraZeneca should deliver solid earnings and revenue. Article Title
• Neutral Sentiment: Analysts from both the U.S. and U.K. cited a mixed setup, with some optimism on near-term results but limited scope for AstraZeneca to raise full-year guidance. Article Title
• Negative Sentiment: HSBC downgraded AstraZeneca to Hold and cut its price target after the Wainua Phase 3 failure, saying the setback weakens the stock’s bull case. Article Title

Astrazeneca Company 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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