Sectoral Asset Management Inc. Reduces Position in Astrazeneca Plc $AZN

Sectoral Asset Management Inc. cut its holdings in shares of Astrazeneca Plc (NYSE:AZN) by 18.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 15,232 shares of the company’s stock after selling 3,518 shares during the period. Astrazeneca makes up 2.1% of Sectoral Asset Management Inc.’s portfolio, making the stock its 13th biggest position. Sectoral Asset Management Inc.’s holdings in Astrazeneca were worth $2,673,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Triumph Capital Management purchased a new stake in shares of Astrazeneca during the third quarter valued at $25,000. Bangor Savings Bank boosted its position in shares of Astrazeneca by 102.7% during the fourth quarter. Bangor Savings Bank now owns 304 shares of the company’s stock valued at $28,000 after buying an additional 154 shares during the last quarter. Eagle Bay Advisors LLC purchased a new stake in shares of Astrazeneca during the fourth quarter valued at $30,000. Rakuten Investment Management Inc. purchased a new stake in shares of Astrazeneca during the third quarter valued at $31,000. Finally, YANKCOM Partnership purchased a new stake in shares of Astrazeneca during the fourth quarter valued at $31,000. 20.35% of the stock is owned by hedge funds and other institutional investors.

Astrazeneca Trading Up 0.1%

Shares of NYSE:AZN opened at $187.24 on Monday. The stock has a market capitalization of $290.39 billion, a price-to-earnings ratio of 28.11, a PEG ratio of 1.54 and a beta of 0.26. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.71 and a current ratio of 0.91. The stock’s 50-day simple moving average is $191.66 and its two-hundred day simple moving average is $183.08. Astrazeneca Plc has a 52-week low of $137.23 and a 52-week high of $212.71.

Astrazeneca (NYSE:AZN) last posted its quarterly earnings data on Wednesday, April 29th. The company reported $2.58 earnings per share for the quarter, beating 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 firm had revenue of $15.29 billion for the quarter, compared to analysts’ expectations of $14.93 billion. Analysts expect that Astrazeneca Plc will post 9.62 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. Wall Street Zen raised Astrazeneca from a “hold” rating to a “buy” rating in a research report on Saturday, May 2nd. TD Cowen reissued a “buy” rating on shares of Astrazeneca in a research report on Wednesday, March 18th. JPMorgan Chase & Co. reissued a “buy” rating on shares of Astrazeneca in a research report on Thursday, May 14th. Citigroup assumed coverage on Astrazeneca in a research report on Tuesday, January 27th. They issued a “buy” rating on the stock. Finally, DZ Bank raised Astrazeneca from a “neutral” rating to a “buy” rating in a research report on Wednesday, April 29th. Twelve investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Astrazeneca presently has an average rating of “Moderate Buy” and a consensus price target of $205.33.

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.