PNC Financial Services Group Inc. trimmed its stake in AstraZeneca plc (NYSE:AZN) by 7.3% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 289,957 shares of the company’s stock after selling 22,686 shares during the period. PNC Financial Services Group Inc.’s holdings in AstraZeneca were worth $12,950,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. First City Capital Management Inc. increased its holdings in AstraZeneca by 1.3% in the fourth quarter. First City Capital Management Inc. now owns 17,155 shares of the company’s stock valued at $855,000 after purchasing an additional 225 shares during the period. Cetera Advisor Networks LLC increased its holdings in AstraZeneca by 6.0% in the fourth quarter. Cetera Advisor Networks LLC now owns 5,293 shares of the company’s stock valued at $259,000 after purchasing an additional 298 shares during the period. JNBA Financial Advisors grew its holdings in AstraZeneca by 10.3% during the 4th quarter. JNBA Financial Advisors now owns 3,440 shares of the company’s stock worth $172,000 after acquiring an additional 322 shares during the period. Wealthcare Advisory Partners LLC grew its holdings in AstraZeneca by 9.3% during the 1st quarter. Wealthcare Advisory Partners LLC now owns 3,953 shares of the company’s stock worth $177,000 after acquiring an additional 335 shares during the period. Finally, Logan Capital Management Inc. grew its holdings in AstraZeneca by 1.3% during the 4th quarter. Logan Capital Management Inc. now owns 25,292 shares of the company’s stock worth $1,261,000 after acquiring an additional 336 shares during the period. Institutional investors and hedge funds own 17.11% of the company’s stock.
AZN has been the subject of a number of recent analyst reports. Argus increased their price target on AstraZeneca from $54.00 to $60.00 and gave the stock a “buy” rating in a report on Wednesday, May 6th. Cowen reiterated a “buy” rating and set a $55.00 price target on shares of AstraZeneca in a report on Friday, February 28th. Guggenheim reiterated a “buy” rating on shares of AstraZeneca in a report on Friday, May 1st. ValuEngine upgraded AstraZeneca from a “sell” rating to a “hold” rating in a report on Tuesday, February 4th. Finally, Morgan Stanley reiterated an “equal weight” rating on shares of AstraZeneca in a report on Wednesday, May 6th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the company. AstraZeneca currently has an average rating of “Hold” and a consensus target price of $54.67.
AstraZeneca (NYSE:AZN) last released its quarterly earnings data on Wednesday, April 29th. The company reported $0.53 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.47 by $0.06. The company had revenue of $6.35 billion for the quarter, compared to analysts’ expectations of $5.95 billion. AstraZeneca had a net margin of 5.94% and a return on equity of 33.97%. The business’s revenue was up 16.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.89 EPS. On average, analysts anticipate that AstraZeneca plc will post 2.01 earnings per share for the current fiscal year.
AstraZeneca PLC discovers, develops, and commercializes prescription medicines in the areas of oncology, cardiovascular, renal and metabolism, respiratory, autoimmunity, infection, neuroscience, and gastroenterology worldwide. Its marketed products include Arimidex, Casodex/Cosudex, Calquence, Faslodex, Imfinzi, Iressa, Lynparza, Nolvadex, Tagrisso, and Zoladex for oncology diseases; Atacand1/Atacand HCT/Atacand Plus, Brilinta/Brilique, Crestor, Plendil, Seloken/Toprol-XL, Tenormin, and Zestril for cardiovascular diseases; and Bydureon, Byetta, Farxiga/Forxiga, Kombiglyze XR, Komboglyze, Onglyza, Qtern, Symlin, Xigduo, and Xigduo XR for metabolic diseases.
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