Sowell Financial Services LLC Buys New Position in Astrazeneca Plc $AZN

Sowell Financial Services LLC bought a new stake in shares of Astrazeneca Plc (NYSE:AZN) in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 8,009 shares of the company’s stock, valued at approximately $1,293,000.

Several other institutional investors have also added to or reduced their stakes in the business. Triumph Capital Management boosted its stake in shares of Astrazeneca by 32.6% during the 3rd quarter. Triumph Capital Management now owns 252 shares of the company’s stock worth $41,000 after acquiring an additional 62 shares during the last quarter. Riversedge Advisors LLC increased its stake in shares of Astrazeneca by 2.9% in the 3rd quarter. Riversedge Advisors LLC now owns 2,347 shares of the company’s stock worth $379,000 after purchasing an additional 67 shares in the last quarter. Veery Capital LLC increased its stake in shares of Astrazeneca by 3.9% in the 3rd quarter. Veery Capital LLC now owns 1,857 shares of the company’s stock worth $300,000 after purchasing an additional 70 shares in the last quarter. Signal Advisors Wealth LLC raised its holdings in Astrazeneca by 2.7% in the 3rd quarter. Signal Advisors Wealth LLC now owns 2,778 shares of the company’s stock worth $448,000 after purchasing an additional 72 shares during the period. Finally, Rosenberg Matthew Hamilton raised its holdings in Astrazeneca by 3.8% in the 3rd quarter. Rosenberg Matthew Hamilton now owns 2,129 shares of the company’s stock worth $344,000 after purchasing an additional 78 shares during the period. 20.35% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the company. Bank of America reiterated a “buy” rating on shares of Astrazeneca in a research report on Wednesday, July 1st. Royal Bank Of Canada initiated coverage on Astrazeneca in a research report on Tuesday, September 8th. They issued an “outperform” rating for the company. Deutsche Bank Aktiengesellschaft raised Astrazeneca from a “sell” rating to a “hold” rating in a research note on Tuesday, September 15th. JPMorgan Chase & Co. reaffirmed a “buy” rating on shares of Astrazeneca in a research report on Tuesday, June 30th. Finally, The Goldman Sachs Group restated a “buy” rating on shares of Astrazeneca in a research note on Wednesday, July 1st. Fifteen equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat, Astrazeneca has an average rating of “Moderate Buy” and an average target price of $206.67.

Key Headlines Impacting Astrazeneca

Here are the key news stories impacting Astrazeneca this week:

• Positive Sentiment: Ultomiris received accelerated FDA approval for IgA nephropathy. The approval makes Ultomiris the first C5 inhibitor authorized for this kidney disease and its fifth approved U.S. indication, expanding the drug’s commercial opportunity. AstraZeneca Gets Accelerated FDA Nod for Ultomiris in IgA Nephropathy
• Positive Sentiment: AstraZeneca launched sunvozertinib in the United States for EGFR exon 20 non-small cell lung cancer. The targeted oncology drug could add to the company’s growing cancer franchise following accelerated FDA approval. AstraZeneca launches sunvozertinib for EGFR exon 20 NSCLC
• Positive Sentiment: TEZSPIRE produced positive Phase III results in eosinophilic esophagitis. Statistically significant and sustained efficacy could support a label expansion for the drug, which AstraZeneca markets with Amgen. AstraZeneca Reports Positive Phase III Results in Eosinophilic Esophagitis
• Positive Sentiment: The long-term investment case remains intact. An analyst argues that 14 current blockbuster medicines and a pipeline that could produce 12 additional blockbusters support AstraZeneca’s target of $80 billion in revenue by 2030. AstraZeneca: This Mighty Pharma Is Undervalued Ahead of Q3 Earnings
• Neutral Sentiment: Quarterly earnings are due Friday. Results and management commentary will provide an immediate test of demand, guidance and the contribution from newer products. AstraZeneca Set to Announce Quarterly Earnings
• Negative Sentiment: Recent setbacks remain a risk. The failed Wainua/eplontersen ATTR-CM study and the loss of U.S. exclusivity for Farxiga could weigh on sentiment and future growth, partially offsetting the new regulatory approvals and pipeline progress. Can AstraZeneca Shrug Off Its Wainua Trial Miss?

Astrazeneca Price Performance

Shares of Astrazeneca stock opened at $171.56 on Friday. The company has a market capitalization of $266.08 billion, a price-to-earnings ratio of 25.64, a PEG ratio of 1.46 and a beta of 0.27. The company has a quick ratio of 0.67, a current ratio of 0.89 and a debt-to-equity ratio of 0.47. The stock’s 50-day simple moving average is $163.23 and its 200-day simple moving average is $175.17. Astrazeneca Plc has a 52 week low of $153.41 and a 52 week high of $212.71.

Astrazeneca (NYSE:AZN) last released its earnings results on Monday, July 27th. The company reported $2.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.50 by $0.13. The firm had revenue of $15.38 billion during the quarter, compared to analysts’ expectations of $15.44 billion. Astrazeneca had a return on equity of 31.45% and a net margin of 17.02%. The firm’s revenue was up 6.4% on a year-over-year basis. During the same quarter last year, the business posted $2.17 earnings per share. As a group, analysts expect that Astrazeneca Plc will post 9.38 earnings per share for the current fiscal year.

Astrazeneca Profile

AstraZeneca plc is a global, science-led biopharmaceutical company headquartered in Cambridge, United Kingdom. The company discovers, develops and commercializes prescription medicines, with a focus on oncology, biopharmaceuticals and rare diseases. Its research and commercial operations serve patients and healthcare systems across more than 100 countries.

AstraZeneca’s portfolio includes medicines for cancer, respiratory and immune-mediated conditions, cardiovascular, renal and metabolic diseases, and rare disorders.