Astrazeneca Plc $AZN is Channing Global Advisors LLC’s Largest Position

Channing Global Advisors LLC lifted its stake in shares of Astrazeneca Plc (NYSE:AZN) by 1,469.2% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 167,622 shares of the company’s stock after purchasing an additional 156,940 shares during the quarter. Astrazeneca accounts for about 19.0% of Channing Global Advisors LLC’s holdings, making the stock its largest position. Channing Global Advisors LLC’s holdings in Astrazeneca were worth $32,489,000 as of its most recent filing with the SEC.

Other institutional investors have also added to or reduced their stakes in the company. Arrowstreet Capital Limited Partnership grew its stake in Astrazeneca by 552.9% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 5,547,597 shares of the company’s stock valued at $973,603,000 after acquiring an additional 4,697,895 shares in the last quarter. Pictet Asset Management Holding SA purchased a new stake in Astrazeneca in the 1st quarter worth approximately $675,263,000. Lansforsakringar Fondforvaltning AB publ purchased a new stake in Astrazeneca in the 1st quarter worth approximately $473,782,000. ABN AMRO Bank N.V. boosted its holdings in Astrazeneca by 32,441.5% in the 1st quarter. ABN AMRO Bank N.V. now owns 2,445,171 shares of the company’s stock valued at $482,158,000 after purchasing an additional 2,437,657 shares during the period. Finally, Citigroup Inc. boosted its holdings in Astrazeneca by 65.3% in the 4th quarter. Citigroup Inc. now owns 6,154,760 shares of the company’s stock valued at $1,080,160,000 after purchasing an additional 2,431,890 shares during the period. Hedge funds and other institutional investors own 20.35% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on AZN. Jefferies Financial Group reaffirmed a “buy” rating on shares of Astrazeneca in a report on Friday, June 26th. Deutsche Bank Aktiengesellschaft reissued a “sell” rating on shares of Astrazeneca in a research note on Tuesday, June 30th. The Goldman Sachs Group restated a “buy” rating on shares of Astrazeneca in a research report on Wednesday, July 1st. DZ Bank raised Astrazeneca from a “neutral” rating to a “buy” rating in a report on Wednesday, April 29th. Finally, JPMorgan Chase & Co. reiterated a “buy” rating on shares of Astrazeneca in a research report on Tuesday, June 30th. Fourteen analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $211.00.

Key Stories Impacting Astrazeneca

Here are the key news stories impacting Astrazeneca this week:

• Negative Sentiment: AstraZeneca and partner Ionis said Wainua failed to meet its main goal in a late-stage trial for a rare heart condition, a disappointing result that raised concerns about the drug’s commercial potential and the strength of the company’s pipeline. Reuters article
• Negative Sentiment: Several reports said the trial miss sparked a sharp selloff in AZN shares, with investors reacting not just to the direct revenue impact but also to the hit to management credibility and confidence in late-stage development execution. Proactive Investors article
• Negative Sentiment: Market coverage highlighted that AstraZeneca’s shares were among the biggest laggards in the FTSE 100 and that the stock’s decline was tied to the surprise of missing the primary endpoint in a closely watched heart-disease study. CNBC article
• Neutral Sentiment: AstraZeneca also received a Buy rating from Bernstein, which may help offset some sentiment damage, but the upgrade was overwhelmed by the trial disappointment. Bernstein note
• Neutral Sentiment: Separately, AstraZeneca recently advanced a respiratory-drug licensing deal with Sino Biopharm, showing continued pipeline activity, but this news was not enough to offset today’s pressure from Wainua. WSJ article

Astrazeneca Stock Down 5.7%

AZN opened at $178.46 on Friday. The business’s fifty day simple moving average is $183.99 and its 200 day simple moving average is $188.61. Astrazeneca Plc has a 52 week low of $137.23 and a 52 week 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 has a market cap of $276.77 billion, a PE ratio of 26.80, a P/E/G ratio of 1.53 and a beta of 0.24.

Astrazeneca (NYSE:AZN) last issued its quarterly earnings results on Wednesday, April 29th. The company reported $2.58 earnings per share (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 analyst estimates of $14.93 billion. As a group, research analysts expect that Astrazeneca Plc will post 10.28 earnings per share for the current fiscal year.

About Astrazeneca

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.