Astrazeneca Plc $AZN Shares Sold by Kornitzer Capital Management Inc. KS

Kornitzer Capital Management Inc. KS lessened its stake in shares of Astrazeneca Plc (NYSE:AZN) by 50.0% during the 1st quarter, Holdings Channel reports. The firm owned 147,009 shares of the company’s stock after selling 146,768 shares during the quarter. Kornitzer Capital Management Inc. KS’s holdings in Astrazeneca were worth $28,993,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of the stock. MV Capital Management Inc. purchased a new position in shares of Astrazeneca in the fourth quarter worth $26,000. Reflection Asset Management purchased a new stake in shares of Astrazeneca during the fourth quarter valued at $31,000. Raleigh Capital Management Inc. acquired a new position in shares of Astrazeneca in the 1st quarter valued at $38,000. Lloyd Advisory Services LLC. acquired a new position in shares of Astrazeneca in the 4th quarter valued at $35,000. Finally, Basepoint Wealth LLC purchased a new position in Astrazeneca in the 4th quarter worth $44,000. Institutional investors and hedge funds own 20.35% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have commented on AZN shares. Bank of America reaffirmed a “buy” rating on shares of Astrazeneca in a research report on Wednesday, July 1st. Deutsche Bank Aktiengesellschaft reissued a “sell” rating on shares of Astrazeneca in a report on Tuesday, June 30th. Sanford C. Bernstein reaffirmed a “buy” rating on shares of Astrazeneca in a report on Monday, May 4th. The Goldman Sachs Group reiterated a “buy” rating on shares of Astrazeneca in a report on Wednesday, July 1st. Finally, UBS Group restated a “buy” rating on shares of Astrazeneca in a research note on Friday, April 10th. Fourteen equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Astrazeneca presently has a consensus rating of “Moderate Buy” and an average price target of $211.00.

Key Astrazeneca News

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

Astrazeneca Stock Performance

Shares of NYSE AZN traded down $6.63 during trading on Friday, reaching $171.86. 3,594,756 shares of the company traded hands, compared to its average volume of 2,047,245. The firm’s fifty day simple moving average is $183.68 and its 200 day simple moving average is $188.59. The stock has a market cap of $266.54 billion, a P/E ratio of 25.80, a PEG ratio of 1.45 and a beta of 0.24. Astrazeneca Plc has a 12-month low of $137.23 and a 12-month high of $212.71. The company has a current ratio of 0.91, a quick ratio of 0.71 and a debt-to-equity ratio of 0.52.

Astrazeneca (NYSE:AZN) last issued its earnings results on Wednesday, April 29th. The company reported $2.58 EPS for the quarter, topping analysts’ consensus estimates of $2.52 by $0.06. The firm had revenue of $15.29 billion for the quarter, compared to the consensus estimate of $14.93 billion. Astrazeneca had a return on equity of 30.86% and a net margin of 17.19%. As a group, research analysts anticipate that Astrazeneca Plc will post 10.28 earnings per share 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.