Astrazeneca Plc $AZN Shares Acquired by Channing Global Advisors LLC

Channing Global Advisors LLC increased its stake in Astrazeneca Plc (NYSE:AZN) by 1,469.2% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 167,622 shares of the company’s stock after purchasing an additional 156,940 shares during the period. Astrazeneca accounts for 19.0% of Channing Global Advisors LLC’s portfolio, making the stock its largest holding. Channing Global Advisors LLC’s holdings in Astrazeneca were worth $32,489,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently bought and sold shares of AZN. IHT Wealth Management LLC grew its holdings in shares of Astrazeneca by 0.3% in the fourth quarter. IHT Wealth Management LLC now owns 17,527 shares of the company’s stock valued at $3,076,000 after acquiring an additional 54 shares in the last quarter. Visionary Wealth Advisors lifted its holdings in Astrazeneca by 1.5% during the fourth quarter. Visionary Wealth Advisors now owns 4,197 shares of the company’s stock worth $737,000 after acquiring an additional 60 shares during the period. Vista Investment Management boosted its position in Astrazeneca by 0.3% in the fourth quarter. Vista Investment Management now owns 21,215 shares of the company’s stock worth $3,723,000 after purchasing an additional 60 shares during the last quarter. Kestra Investment Management LLC grew its stake in Astrazeneca by 1.9% in the 4th quarter. Kestra Investment Management LLC now owns 3,391 shares of the company’s stock valued at $595,000 after purchasing an additional 63 shares during the period. Finally, Luken Investment Analytics LLC increased its position in shares of Astrazeneca by 4.3% during the 4th quarter. Luken Investment Analytics LLC now owns 1,564 shares of the company’s stock valued at $274,000 after purchasing an additional 64 shares during the last quarter. Institutional investors and hedge funds own 20.35% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. UBS Group reissued a “buy” rating on shares of Astrazeneca in a report on Friday, April 10th. Jefferies Financial Group reaffirmed a “buy” rating on shares of Astrazeneca in a research report on Friday, June 26th. Barclays reiterated a “buy” rating on shares of Astrazeneca in a research note on Monday, June 1st. JPMorgan Chase & Co. reissued a “buy” rating on shares of Astrazeneca in a research report on Tuesday, June 30th. Finally, Morgan Stanley restated an “overweight” rating on shares of Astrazeneca in a research note on Wednesday, April 8th. Fourteen equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $211.00.

Astrazeneca Stock Down 5.7%

AZN stock opened at $178.46 on Friday. The stock has a fifty day moving average of $183.99 and a 200-day moving average of $188.61. Astrazeneca Plc has a fifty-two week low of $137.23 and a fifty-two week high of $212.71. The company has a market capitalization of $276.77 billion, a price-to-earnings ratio of 26.80, a PEG ratio of 1.53 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 (NYSE:AZN) last announced 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. The business had revenue of $15.29 billion for the quarter, compared to analysts’ expectations of $14.93 billion. Astrazeneca had a return on equity of 30.86% and a net margin of 17.19%. As a group, equities research analysts predict that Astrazeneca Plc will post 10.28 earnings per share for the current year.

Key Astrazeneca News

Here are the key news stories impacting Astrazeneca this week:

• Negative Sentiment: AstraZeneca and partner Ionis said Wainua failed to meet its main goal in a late-stage trial for a rare heart condition, a disappointing result that raised concerns about the drug’s commercial potential and the strength of the company’s pipeline. Reuters article
• Negative Sentiment: Several reports said the trial miss sparked a sharp selloff in AZN shares, with investors reacting not just to the direct revenue impact but also to the hit to management credibility and confidence in late-stage development execution. Proactive Investors article
• Negative Sentiment: Market coverage highlighted that AstraZeneca’s shares were among the biggest laggards in the FTSE 100 and that the stock’s decline was tied to the surprise of missing the primary endpoint in a closely watched heart-disease study. CNBC article
• Neutral Sentiment: AstraZeneca also received a Buy rating from Bernstein, which may help offset some sentiment damage, but the upgrade was overwhelmed by the trial disappointment. Bernstein note
• Neutral Sentiment: Separately, AstraZeneca recently advanced a respiratory-drug licensing deal with Sino Biopharm, showing continued pipeline activity, but this news was not enough to offset today’s pressure from Wainua. WSJ article

About Astrazeneca

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.