Waverly Advisors LLC Sells 118,483 Shares of Astrazeneca Plc $AZN

Key Points

• Waverly Advisors LLC reduced its AstraZeneca position by 49.8% in the first quarter, selling 118,483 shares and ending with 119,336 shares worth about $23.4 million.
• AstraZeneca reported better-than-expected quarterly results, posting EPS of $2.58 versus the $2.52 consensus and revenue of $15.29 billion versus estimates of $14.93 billion.
• Wall Street sentiment remains positive overall, with 13 Buy ratings, one Hold, and one Sell, and a consensus Moderate Buy price target of $211.00.

Waverly Advisors LLC cut its holdings in shares of Astrazeneca Plc (NYSE:AZN - Free Report) by 49.8% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 119,336 shares of the company's stock after selling 118,483 shares during the quarter. Waverly Advisors LLC's holdings in Astrazeneca were worth $23,447,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in 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 Astrazeneca during the fourth quarter valued at approximately $26,000. Mascoma Wealth Management LLC acquired a new position in Astrazeneca during the first quarter valued at approximately $26,000. Bangor Savings Bank grew its stake in Astrazeneca by 102.7% in the fourth quarter. Bangor Savings Bank now owns 304 shares of the company's stock valued at $28,000 after purchasing an additional 154 shares in the last quarter. Finally, Eagle Bay Advisors LLC bought a new position in Astrazeneca in the fourth quarter valued at approximately $30,000. 20.35% of the stock is owned by institutional investors.

Astrazeneca Price Performance

NYSE:AZN opened at $168.68 on Friday. The company has a quick ratio of 0.71, a current ratio of 0.91 and a debt-to-equity ratio of 0.52. The stock's 50 day moving average price is $180.55 and its two-hundred day moving average price is $188.02. The firm has a market capitalization of $261.61 billion, a price-to-earnings ratio of 25.33, a P/E/G ratio of 1.38 and a beta of 0.24. Astrazeneca Plc has a 12-month low of $142.98 and a 12-month high of $212.71.

Astrazeneca (NYSE:AZN - Get Free Report) last released its quarterly earnings data on Wednesday, April 29th. The company reported $2.58 earnings per share (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 company had revenue of $15.29 billion during the quarter, compared to analysts' expectations of $14.93 billion. On average, analysts anticipate that Astrazeneca Plc will post 10.22 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms have weighed in on AZN. Deutsche Bank Aktiengesellschaft reaffirmed a "sell" rating on shares of Astrazeneca in a research report on Tuesday, June 30th. Bank of America reissued a "buy" rating on shares of Astrazeneca in a research note on Wednesday, July 1st. Weiss Ratings downgraded shares of Astrazeneca from a "buy (b)" rating to a "buy (b-)" rating in a report on Thursday, June 18th. DZ Bank raised shares of Astrazeneca from a "neutral" rating to a "buy" rating in a research report on Wednesday, April 29th. Finally, UBS Group reiterated a "buy" rating on shares of Astrazeneca in a research note on Friday, April 10th. Thirteen research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Astrazeneca currently has a consensus rating of "Moderate Buy" and an average price target of $211.00.

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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