Valley National Advisers Inc. Sells 12,839 Shares of Astrazeneca Plc $AZN

Key Points

• Valley National Advisers cut its AstraZeneca stake by 97.1% in the third quarter, selling 12,839 shares and retaining just 378 shares valued at approximately $61,000.
• AstraZeneca reported quarterly EPS of $2.63, beating estimates of $2.50, while revenue rose 6.4% year over year to $15.38 billion. Analysts expect the company to post $10.23 in EPS for the current year.
• Analysts maintain a generally positive outlook, with 15 Buy ratings and four Holds; the stock has a consensus rating of “Moderate Buy” and an average price target of $206.67.

Valley National Advisers Inc. cut its holdings in Astrazeneca Plc (NYSE:AZN - Free Report) by 97.1% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 378 shares of the company's stock after selling 12,839 shares during the quarter. Valley National Advisers Inc.'s holdings in Astrazeneca were worth $61,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the business. Signaturefd LLC increased its position in Astrazeneca by 3.3% in the 3rd quarter. Signaturefd LLC now owns 36,720 shares of the company's stock valued at $5,929,000 after acquiring an additional 1,184 shares in the last quarter. Brookmont Capital Management lifted its position in shares of Astrazeneca by 3.2% during the third quarter. Brookmont Capital Management now owns 27,272 shares of the company's stock worth $4,404,000 after purchasing an additional 836 shares in the last quarter. Sowell Financial Services LLC acquired a new position in shares of Astrazeneca during the third quarter worth approximately $647,000. Evergreen Capital Management LLC grew its stake in shares of Astrazeneca by 2.4% during the third quarter. Evergreen Capital Management LLC now owns 32,953 shares of the company's stock valued at $5,321,000 after purchasing an additional 773 shares during the last quarter. Finally, Gibbs Wealth Management grew its stake in shares of Astrazeneca by 27.3% during the third quarter. Gibbs Wealth Management now owns 8,958 shares of the company's stock valued at $1,447,000 after purchasing an additional 1,923 shares during the last quarter. 20.35% of the stock is owned by institutional investors.

Astrazeneca Stock Performance

AZN stock opened at $172.03 on Tuesday. The business's fifty day moving average is $163.10 and its 200-day moving average is $180.57. The company has a quick ratio of 0.67, a current ratio of 0.89 and a debt-to-equity ratio of 0.47. The company has a market cap of $266.81 billion, a P/E ratio of 25.71, a price-to-earnings-growth ratio of 1.33 and a beta of 0.27. Astrazeneca Plc has a twelve month low of $153.41 and a twelve month high of $212.71.

Astrazeneca (NYSE:AZN - Get Free Report) last posted its quarterly earnings results on Monday, July 27th. The company reported $2.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.50 by $0.13. The business had revenue of $15.38 billion for the quarter, compared to analyst estimates of $15.44 billion. Astrazeneca had a return on equity of 31.45% and a net margin of 17.02%. The firm's revenue was up 6.4% on a year-over-year basis. During the same period last year, the company earned $2.17 EPS. Equities research analysts forecast that Astrazeneca Plc will post 10.23 EPS for the current year.

Analysts Set New Price Targets

A number of analysts recently weighed in on AZN shares. Bank of America reissued a "buy" rating on shares of Astrazeneca in a report on Wednesday, July 1st. The Goldman Sachs Group reiterated a "buy" rating on shares of Astrazeneca in a research report on Wednesday, July 1st. Deutsche Bank Aktiengesellschaft upgraded Astrazeneca from a "sell" rating to a "hold" rating in a research report on Tuesday, September 15th. Nordea Equity Research raised Astrazeneca from a "sell" rating to a "buy" rating in a research note on Tuesday, October 13th. Finally, Weiss Ratings downgraded Astrazeneca from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Tuesday, July 28th. Fifteen equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $206.67.

About Astrazeneca

AstraZeneca plc is a global, science-led biopharmaceutical company headquartered in Cambridge, United Kingdom. The company discovers, develops and commercializes prescription medicines, with a focus on oncology, biopharmaceuticals and rare diseases. Its research and commercial operations serve patients and healthcare systems across more than 100 countries.

AstraZeneca's portfolio includes medicines for cancer, respiratory and immune-mediated conditions, cardiovascular, renal and metabolic diseases, and rare disorders.

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