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

Parr Mcknight Wealth Management Group LLC decreased its stake in shares of Astrazeneca Plc (NYSE:AZN) by 43.0% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 19,005 shares of the company’s stock after selling 14,364 shares during the period. Parr Mcknight Wealth Management Group LLC’s holdings in Astrazeneca were worth $3,748,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of AZN. Triumph Capital Management acquired a new position in shares of Astrazeneca in the third quarter valued at approximately $25,000. MV Capital Management Inc. bought a new position in Astrazeneca during the 4th quarter worth $26,000. Mascoma Wealth Management LLC acquired a new stake in shares of Astrazeneca during the first quarter worth $26,000. Bangor Savings Bank boosted its position in shares of Astrazeneca by 102.7% in the fourth quarter. Bangor Savings Bank now owns 304 shares of the company’s stock valued at $28,000 after acquiring an additional 154 shares during the period. Finally, Eagle Bay Advisors LLC acquired a new position in shares of Astrazeneca in the fourth quarter valued at about $30,000. 20.35% of the stock is currently owned by institutional investors and hedge funds.

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

Wall Street Analyst Weigh In

A number of research firms have issued reports on AZN. DZ Bank raised shares of Astrazeneca from a “neutral” rating to a “buy” rating in a report on Wednesday, April 29th. HSBC downgraded Astrazeneca from a “buy” rating to a “hold” rating in a research report on Monday. Jefferies Financial Group reiterated a “buy” rating on shares of Astrazeneca in a research report on Friday, June 26th. The Goldman Sachs Group reissued a “buy” rating on shares of Astrazeneca in a report on Wednesday, July 1st. Finally, Morgan Stanley restated an “overweight” rating on shares of Astrazeneca in a research report on Wednesday, April 8th. Thirteen research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $211.00.

Astrazeneca Stock Performance

NYSE:AZN opened at $171.86 on Monday. Astrazeneca Plc has a twelve month low of $137.23 and a twelve month high of $212.71. The company has a quick ratio of 0.71, a current ratio of 0.91 and a debt-to-equity ratio of 0.52. The stock’s 50-day simple moving average is $183.68 and its 200 day simple moving average is $188.73. The firm has a market capitalization of $266.54 billion, a PE ratio of 25.80, a price-to-earnings-growth ratio of 1.39 and a beta of 0.24.

Astrazeneca (NYSE:AZN) last issued its earnings results on Wednesday, April 29th. The company reported $2.58 EPS for the quarter, topping the consensus estimate 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 during the quarter, compared to the consensus estimate of $14.93 billion. On average, analysts anticipate that Astrazeneca Plc will post 10.28 EPS for the current fiscal year.

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.