ARGA Investment Management LP Invests $2.26 Million in Astrazeneca Plc $AZN

ARGA Investment Management LP purchased a new position in Astrazeneca Plc (NYSE:AZN) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 11,643 shares of the company’s stock, valued at approximately $2,264,000.

Several other institutional investors also recently added to or reduced their stakes in AZN. MV Capital Management Inc. purchased a new stake in Astrazeneca during the fourth quarter worth about $26,000. Reflection Asset Management purchased a new position in Astrazeneca in the fourth quarter valued at about $31,000. Raleigh Capital Management Inc. bought a new position in shares of Astrazeneca during the 1st quarter valued at approximately $38,000. Lloyd Advisory Services LLC. bought a new position in shares of Astrazeneca during the 4th quarter valued at approximately $35,000. Finally, Basepoint Wealth LLC purchased a new stake in shares of Astrazeneca during the 4th quarter worth approximately $44,000. Institutional investors own 20.35% of the company’s stock.

Astrazeneca Trading Down 3.7%

Shares of AZN stock opened at $171.86 on Friday. The stock has a market capitalization of $266.54 billion, a price-to-earnings ratio of 25.80, a PEG ratio of 1.45 and a beta of 0.24. The company’s fifty day simple moving average is $183.68 and its two-hundred day simple moving average is $188.59. Astrazeneca Plc has a 1 year low of $137.23 and a 1 year high of $212.71. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.91 and a quick ratio of 0.71.

Astrazeneca (NYSE:AZN) last posted its quarterly earnings results on Wednesday, April 29th. The company reported $2.58 EPS for the quarter, topping analysts’ consensus estimates of $2.52 by $0.06. The firm had revenue of $15.29 billion during the quarter, compared to analyst estimates of $14.93 billion. Astrazeneca had a return on equity of 30.86% and a net margin of 17.19%. As a group, analysts anticipate that Astrazeneca Plc will post 10.28 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms recently commented on AZN. Bank of America reiterated a “buy” rating on shares of Astrazeneca in a research note on Wednesday, July 1st. Jefferies Financial Group restated a “buy” rating on shares of Astrazeneca in a research note on Friday, June 26th. Sanford C. Bernstein reaffirmed a “buy” rating on shares of Astrazeneca in a research report on Monday, May 4th. Barclays reiterated a “buy” rating on shares of Astrazeneca in a research note on Monday, June 1st. Finally, UBS Group reissued a “buy” rating on shares of Astrazeneca in a report on Friday, April 10th. Fourteen analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $211.00.

Key Stories Impacting Astrazeneca

Here are the key news stories impacting Astrazeneca this week:

• Negative Sentiment: Wainua’s Phase 3 failure removes a potential growth driver and raises concerns about AstraZeneca’s ability to expand successfully beyond oncology. Reuters: AstraZeneca-Ionis drug fails to meet main goal in late-stage heart disease trial
• Negative Sentiment: Several reports say the miss has hurt management credibility and triggered a sharp market selloff, with investors reassessing the value of AstraZeneca’s pipeline. Proactive Investors: AstraZeneca’s Wainua failure hurts credibility more than valuation, Jefferies warns
• Neutral Sentiment: Some analysts still maintained a constructive view, with Bernstein reportedly reiterating a buy rating despite the setback, suggesting the longer-term thesis is not fully broken. Globe and Mail/Bernstein note: AstraZeneca receives a Buy from Bernstein
• Negative Sentiment: Investor concern has also expanded into legal overhangs, with a pending investigation notice adding another source of pressure on the stock. PR Newswire: AstraZeneca Investigation Notice

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.