Eastern Bank Purchases Shares of 6,092 Astrazeneca Plc $AZN

Eastern Bank acquired a new position in Astrazeneca Plc (NYSE:AZN) during the 2nd quarter, HoldingsChannel reports. The fund acquired 6,092 shares of the company’s stock, valued at approximately $1,143,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in AZN. Mascoma Wealth Management LLC acquired a new position in shares of Astrazeneca in the 1st quarter valued at $26,000. MV Capital Management Inc. purchased a new stake in Astrazeneca during the fourth quarter worth $26,000. Roxbury Financial LLC acquired a new stake in Astrazeneca during the second quarter valued at $29,000. Reflection Asset Management acquired a new stake in Astrazeneca during the fourth quarter valued at $31,000. Finally, Resources Management Corp CT ADV purchased a new position in Astrazeneca in the first quarter valued at $35,000. Institutional investors and hedge funds own 20.35% of the company’s stock.

Astrazeneca Stock Performance

NYSE:AZN opened at $155.79 on Wednesday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.67 and a current ratio of 0.89. The company has a fifty day moving average of $177.81 and a two-hundred day moving average of $187.53. The stock has a market capitalization of $241.61 billion, a PE ratio of 23.29, a P/E/G ratio of 1.36 and a beta of 0.26. Astrazeneca Plc has a fifty-two week low of $145.79 and a fifty-two week high of $212.71.

Astrazeneca (NYSE:AZN) last posted its quarterly earnings data on Monday, July 27th. The company reported $2.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.50 by $0.13. Astrazeneca had a net margin of 17.02% and a return on equity of 31.45%. The business had revenue of $15.38 billion for the quarter, compared to the consensus estimate of $15.44 billion. During the same period last year, the firm posted $2.17 earnings per share. The company’s revenue was up 6.4% compared to the same quarter last year. As a group, research analysts forecast that Astrazeneca Plc will post 10.22 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have weighed in on AZN. Barclays reiterated a “buy” rating on shares of Astrazeneca in a research report on Monday, June 1st. Weiss Ratings cut Astrazeneca from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Tuesday, July 28th. Morgan Stanley restated an “overweight” rating on shares of Astrazeneca in a research note on Wednesday, April 8th. Sanford C. Bernstein reaffirmed a “buy” rating on shares of Astrazeneca in a report on Monday, May 4th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “sell” rating on shares of Astrazeneca in a research report on Tuesday, June 30th. Twelve research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Astrazeneca presently has an average rating of “Moderate Buy” and an average target price of $211.00.

Trending Headlines about Astrazeneca

Here are the key news stories impacting Astrazeneca this week:

• Positive Sentiment: AstraZeneca entered a multiyear collaboration with SOPHiA GENETICS to develop and commercialize two companion diagnostics for precision-oncology therapies. The agreement could support more targeted use of AstraZeneca’s cancer medicines and strengthen its precision-medicine pipeline. SOPHiA GENETICS collaboration announcement
• Positive Sentiment: Citi said a significant portion of the potential deal risk may already be reflected in AstraZeneca’s share price following Monday’s decline. Analysts also noted that a combined company could generate meaningful cost savings and broaden its pharmaceutical portfolio if a transaction were completed. Brokers split on AstraZeneca merger talk
• Neutral Sentiment: The reported merger discussions remain preliminary and may not lead to a transaction. RBC reportedly considers an AstraZeneca-Bristol Myers combination unlikely for now, while other banks see potential strategic parallels with AstraZeneca’s Alexion acquisition. RBC view on potential AstraZeneca-Bristol Myers deal
• Negative Sentiment: Investors have reacted negatively to the possibility of a megamerger, with analysts questioning why AstraZeneca would pursue Bristol Myers and whether the cost, financing burden, and integration complexity would outweigh potential benefits. The market’s response suggests AstraZeneca shareholders currently view the proposal as more likely to destroy value than create it. AstraZeneca shares drop after merger report
• Negative Sentiment: Pomerantz LLP announced an investigation into potential claims on behalf of AstraZeneca investors. The announcement does not establish wrongdoing, but securities-law investigations can add reputational and legal uncertainty. Pomerantz investor alert

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.