Canandaigua National Trust Co of Florida Makes New $891,000 Investment in Astrazeneca Plc $AZN

Canandaigua National Trust Co of Florida acquired a new stake in Astrazeneca Plc (NYSE:AZN) during the 3rd quarter, according to its most recent disclosure with the SEC. The fund acquired 5,473 shares of the company’s stock, valued at approximately $891,000.

A number of other large investors have also recently added to or reduced their stakes in the company. MV Capital Management Inc. bought a new stake in shares of Astrazeneca in the fourth quarter valued at about $26,000. Mascoma Wealth Management LLC bought a new position in shares of Astrazeneca during the first quarter worth about $26,000. Roxbury Financial LLC acquired a new stake in Astrazeneca in the 2nd quarter valued at approximately $29,000. Reflection Asset Management bought a new stake in Astrazeneca in the 4th quarter valued at approximately $31,000. Finally, Resources Management Corp CT ADV bought a new stake in Astrazeneca in the 1st quarter valued at approximately $35,000. Institutional investors own 20.35% of the company’s stock.

Trending Headlines about Astrazeneca

Here are the key news stories impacting Astrazeneca this week:

• Positive Sentiment: Analysts remain bullish ahead of third-quarter results. Jefferies reiterated its “buy” rating and 17,500-pence price target, citing expectations for revenue roughly 1% above consensus and core EBIT about 3% ahead of forecasts. Jefferies maintains buy rating on AstraZeneca
• Positive Sentiment: Citi raised its price target to £186 from £178 and maintained a “buy” rating. The broker increased its peak-sales forecast for tozorakimab to $7 billion and SERENA-6 to $1.1 billion, more than offsetting the removal of its $1.7 billion forecast for SERENA-4. Citi raises AstraZeneca target
• Positive Sentiment: AstraZeneca opened a $1 billion global R&D center in Kendall Square, Massachusetts. The facility will combine oncology, cell therapy, chronic and rare disease, and obesity research, using robotics and artificial intelligence to support drug development and strengthen the company’s long-term pipeline. AstraZeneca opens new R&D hub
• Positive Sentiment: AstraZeneca completed a $2 billion investment in Summit Therapeutics, expanding its exposure to Summit’s drug-development programs and potentially adding future growth to its oncology portfolio. AstraZeneca completes investment in Summit Therapeutics
• Neutral Sentiment: Valuation appears reasonable based on current earnings, which may limit concerns about overpricing, although investors still await third-quarter results for confirmation of operating momentum. AstraZeneca stock valuation analysis

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on AZN. Jefferies Financial Group reiterated a “buy” rating on shares of Astrazeneca in a report on Friday, June 26th. Bank of America reiterated a “buy” rating on shares of Astrazeneca in a research note on Wednesday, July 1st. Deutsche Bank Aktiengesellschaft raised shares of Astrazeneca from a “sell” rating to a “hold” rating in a research report on Tuesday, September 15th. JPMorgan Chase & Co. restated a “buy” rating on shares of Astrazeneca in a research note on Tuesday, June 30th. Finally, Weiss Ratings cut Astrazeneca from a “buy (b-)” rating to a “hold (c+)” rating in a report on Tuesday, July 28th. Fourteen research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $206.67.

Astrazeneca Stock Performance

NYSE AZN traded up $1.57 on Wednesday, hitting $160.18. 2,458,447 shares of the stock were exchanged, compared to its average volume of 2,798,560. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.89 and a quick ratio of 0.67. The business’s fifty day moving average is $162.67 and its 200 day moving average is $177.48. Astrazeneca Plc has a 52 week low of $153.41 and a 52 week high of $212.71. The company has a market capitalization of $248.42 billion, a PE ratio of 23.94, a P/E/G ratio of 1.32 and a beta of 0.27.

Astrazeneca (NYSE:AZN) last announced its quarterly earnings data on Monday, July 27th. The company reported $2.63 EPS for the quarter, beating analysts’ consensus estimates of $2.50 by $0.13. The company had revenue of $15.38 billion during the quarter, compared to the consensus estimate of $15.44 billion. Astrazeneca had a net margin of 17.02% and a return on equity of 31.45%. The company’s quarterly revenue was up 6.4% on a year-over-year basis. During the same quarter last year, the firm posted $2.17 EPS. Research analysts anticipate that Astrazeneca Plc will post 9.37 EPS for the current fiscal year.

Astrazeneca Profile

AstraZeneca PLC is a global biopharmaceutical company headquartered in Cambridge, United Kingdom. Its research, development and commercial operations focus on prescription medicines for serious and chronic diseases, with an emphasis on discovering and delivering innovative therapies rather than operating as a diversified healthcare conglomerate.

The company’s principal therapeutic areas include oncology; cardiovascular, renal and metabolic diseases; respiratory and immunological conditions; and rare diseases.