Pittenger & Anderson Inc. Sells 32,448 Shares of Astrazeneca Plc $AZN

Key Points

• Pittenger & Anderson Inc. cut its AstraZeneca stake by 50% in the first quarter, selling 32,448 shares and leaving it with 32,472 shares worth about $6.4 million.
• AstraZeneca stock fell 3.7% to $171.86, even after the company reported quarterly earnings and revenue that both beat analyst estimates.
• Analysts remain mostly bullish overall, with 14 Buy ratings and a consensus Moderate Buy target price of $211, though some recent commentary has turned more cautious.

Pittenger & Anderson Inc. lowered its stake in shares of Astrazeneca Plc (NYSE:AZN - Free Report) by 50.0% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 32,472 shares of the company's stock after selling 32,448 shares during the quarter. Pittenger & Anderson Inc.'s holdings in Astrazeneca were worth $6,404,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of AZN. Triumph Capital Management acquired a new stake in shares of Astrazeneca in the third quarter valued at about $25,000. MV Capital Management Inc. acquired a new position in shares of Astrazeneca during the fourth quarter worth approximately $26,000. Mascoma Wealth Management LLC bought a new stake in shares of Astrazeneca in the first quarter valued at approximately $26,000. Bangor Savings Bank boosted its holdings in Astrazeneca by 102.7% in the 4th quarter. Bangor Savings Bank now owns 304 shares of the company's stock valued at $28,000 after purchasing an additional 154 shares during the period. Finally, Eagle Bay Advisors LLC bought a new stake in shares of Astrazeneca in the fourth quarter valued at about $30,000. 20.35% of the stock is currently owned by institutional investors and hedge funds.

Astrazeneca Trading Down 3.7%

Astrazeneca stock traded down $6.63 during trading hours on Friday, reaching $171.86. 3,594,756 shares of the company's stock traded hands, compared to its average volume of 2,047,245. The firm has a market capitalization of $266.54 billion, a price-to-earnings ratio of 25.80, a PEG 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 Plc has a fifty-two week low of $137.23 and a fifty-two week high of $212.71. The firm's 50 day moving average is $183.68 and its 200-day moving average is $188.66.

Astrazeneca (NYSE:AZN - Get Free Report) last announced its quarterly earnings data on Wednesday, April 29th. The company reported $2.58 earnings per share for the quarter, beating 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 net margin of 17.19% and a return on equity of 30.86%. On average, analysts predict that Astrazeneca Plc will post 10.28 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages recently commented on AZN. Deutsche Bank Aktiengesellschaft reaffirmed a "sell" rating on shares of Astrazeneca in a research report on Tuesday, June 30th. DZ Bank raised shares of Astrazeneca from a "neutral" rating to a "buy" rating in a research report on Wednesday, April 29th. TD Cowen reaffirmed a "buy" rating on shares of Astrazeneca in a report on Wednesday, March 18th. The Goldman Sachs Group reiterated a "buy" rating on shares of Astrazeneca in a research note on Wednesday, July 1st. Finally, Barclays restated a "buy" rating on shares of Astrazeneca in a report on Monday, June 1st. Fourteen research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, Astrazeneca presently has a consensus rating of "Moderate Buy" and a consensus target price 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

Astrazeneca 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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