Parr Mcknight Wealth Management Group LLC Sells 14,364 Shares of Astrazeneca Plc $AZN

Parr Mcknight Wealth Management Group LLC lessened its position in shares of Astrazeneca Plc (NYSE:AZN) by 43.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 19,005 shares of the company’s stock after selling 14,364 shares during the quarter. Parr Mcknight Wealth Management Group LLC’s holdings in Astrazeneca were worth $3,748,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of AZN. J. Safra Sarasin Holding AG raised its stake in shares of Astrazeneca by 7,317.7% in the 1st quarter. J. Safra Sarasin Holding AG now owns 168,752 shares of the company’s stock valued at $32,658,000 after buying an additional 166,477 shares in the last quarter. Avion Wealth increased its position in Astrazeneca by 166.2% in the 1st quarter. Avion Wealth now owns 197 shares of the company’s stock valued at $38,000 after acquiring an additional 123 shares in the last quarter. LGT Fund Management Co Ltd. boosted its holdings in Astrazeneca by 160.3% in the first quarter. LGT Fund Management Co Ltd. now owns 103,991 shares of the company’s stock valued at $20,203,000 after acquiring an additional 64,033 shares during the last quarter. Anchor Investment Management LLC acquired a new position in Astrazeneca in the first quarter valued at approximately $86,000. Finally, Diversify Wealth Management LLC increased its holdings in Astrazeneca by 184.0% in the first quarter. Diversify Wealth Management LLC now owns 11,855 shares of the company’s stock valued at $2,196,000 after purchasing an additional 7,681 shares during the last quarter. 20.35% of the stock is currently owned by institutional investors and hedge funds.

Astrazeneca Price Performance

Shares of AZN opened at $171.86 on Monday. The company has a current ratio of 0.91, a quick ratio of 0.71 and a debt-to-equity ratio of 0.52. The company’s fifty day simple moving average is $183.68 and its 200 day simple moving average is $188.73. Astrazeneca Plc has a 1-year low of $137.23 and a 1-year high of $212.71. The company has a market cap of $266.54 billion, a price-to-earnings ratio of 25.80, a PEG ratio of 1.39 and a beta of 0.24.

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

Trending Headlines about 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

Analyst Upgrades and Downgrades

Several research firms have weighed in on AZN. HSBC lowered shares of Astrazeneca from a “buy” rating to a “hold” rating in a report on Monday. TD Cowen reaffirmed a “buy” rating on shares of Astrazeneca in a research report on Wednesday, March 18th. Morgan Stanley restated an “overweight” rating on shares of Astrazeneca in a research note on Wednesday, April 8th. Jefferies Financial Group reissued a “buy” rating on shares of Astrazeneca in a research report on Friday, June 26th. Finally, Sanford C. Bernstein reiterated a “buy” rating on shares of Astrazeneca in a research note on Monday, May 4th. 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’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $211.00.

Astrazeneca 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.