Carnegie Investment Counsel Reduces Position in Astrazeneca Plc $AZN

Carnegie Investment Counsel trimmed its position in Astrazeneca Plc (NYSE:AZN) by 46.7% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,895 shares of the company’s stock after selling 6,035 shares during the period. Carnegie Investment Counsel’s holdings in Astrazeneca were worth $1,360,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in AZN. Mascoma Wealth Management LLC purchased a new stake in Astrazeneca during the 1st quarter valued at about $26,000. MV Capital Management Inc. purchased a new position in shares of Astrazeneca in the fourth quarter worth about $26,000. Reflection Asset Management purchased a new position in shares of Astrazeneca in the fourth quarter worth about $31,000. Raleigh Capital Management Inc. acquired a new stake in shares of Astrazeneca during the first quarter worth about $38,000. Finally, Lloyd Advisory Services LLC. acquired a new stake in shares of Astrazeneca during the fourth quarter worth about $35,000. Hedge funds and other institutional investors own 20.35% of the company’s stock.

Astrazeneca News Roundup

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

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on AZN shares. Sanford C. Bernstein reiterated a “buy” rating on shares of Astrazeneca in a report on Monday, May 4th. The Goldman Sachs Group 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. reiterated a “buy” rating on shares of Astrazeneca in a research note on Tuesday, June 30th. Finally, Weiss Ratings cut shares of Astrazeneca from a “buy (b)” rating to a “buy (b-)” rating in a report on Thursday, June 18th. Thirteen equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Astrazeneca currently has an average rating of “Moderate Buy” and an average price target of $211.00.

Astrazeneca Price Performance

Shares of Astrazeneca stock opened at $169.79 on Tuesday. The firm has a market cap of $263.32 billion, a PE ratio of 25.49, a P/E/G ratio of 1.39 and a beta of 0.24. Astrazeneca Plc has a twelve month low of $137.23 and a twelve month high of $212.71. 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 business has a 50-day moving average price of $183.38 and a 200 day moving average price of $188.67.

Astrazeneca (NYSE:AZN) last issued its quarterly earnings results on Wednesday, April 29th. The company reported $2.58 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to the consensus estimate of $14.93 billion. Sell-side analysts predict that Astrazeneca Plc will post 10.28 earnings per share for the current fiscal year.

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.