Carderock Capital Management Inc. Makes New Investment in Astrazeneca Plc $AZN

Carderock Capital Management Inc. bought a new position in shares of Astrazeneca Plc (NYSE:AZN) in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 4,282 shares of the company’s stock, valued at approximately $691,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Triumph Capital Management boosted its position in shares of Astrazeneca by 32.6% during the third quarter. Triumph Capital Management now owns 252 shares of the company’s stock worth $41,000 after buying an additional 62 shares during the period. Riversedge Advisors LLC lifted its stake in Astrazeneca by 2.9% in the 3rd quarter. Riversedge Advisors LLC now owns 2,347 shares of the company’s stock valued at $379,000 after acquiring an additional 67 shares in the last quarter. Veery Capital LLC boosted its position in Astrazeneca by 3.9% during the 3rd quarter. Veery Capital LLC now owns 1,857 shares of the company’s stock worth $300,000 after acquiring an additional 70 shares during the last quarter. Obermeyer Wealth Partners boosted its position in Astrazeneca by 0.6% during the 3rd quarter. Obermeyer Wealth Partners now owns 11,705 shares of the company’s stock worth $1,905,000 after acquiring an additional 70 shares during the last quarter. Finally, Signal Advisors Wealth LLC boosted its position in Astrazeneca by 2.7% during the 3rd quarter. Signal Advisors Wealth LLC now owns 2,778 shares of the company’s stock worth $448,000 after acquiring an additional 72 shares during the last quarter. Institutional investors and hedge funds own 20.35% of the company’s stock.

Wall Street Analyst Weigh In

AZN has been the subject of several research reports. Wall Street Zen cut shares of Astrazeneca from a “buy” rating to a “hold” rating in a research note on Sunday, October 11th. Deutsche Bank Aktiengesellschaft raised shares of Astrazeneca from a “sell” rating to a “hold” rating in a research report on Tuesday, September 15th. Nordea Equity Research upgraded shares of Astrazeneca from a “sell” rating to a “buy” rating in a research note on Tuesday, October 13th. HSBC cut shares of Astrazeneca from a “buy” rating to a “hold” rating in a research report on Monday, July 13th. Finally, Royal Bank Of Canada assumed coverage on shares of Astrazeneca in a research note on Tuesday, September 8th. They set an “outperform” rating for the company. Fifteen analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Astrazeneca presently has a consensus rating of “Moderate Buy” and an average price target of $206.67.

Astrazeneca News Roundup

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 Stock Performance

Shares of AZN stock opened at $171.56 on Friday. The company has a fifty day moving average price of $163.23 and a two-hundred day moving average price of $175.17. Astrazeneca Plc has a one year low of $153.41 and a one year high of $212.71. The stock has a market cap of $266.08 billion, a P/E ratio of 17.77, a P/E/G ratio of 1.46 and a beta of 0.27. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.89 and a quick ratio of 0.67.

Astrazeneca (NYSE:AZN) last released its quarterly earnings data on Monday, July 27th. The company reported $2.63 earnings per share for the quarter, topping the consensus estimate of $2.50 by $0.13. The company had revenue of $15.38 billion for the quarter, compared to analyst estimates of $15.44 billion. Astrazeneca had a net margin of 17.02% and a return on equity of 31.45%. Astrazeneca’s revenue for the quarter was up 6.4% compared to the same quarter last year. During the same period in the previous year, the business earned $2.17 EPS. As a group, equities analysts predict that Astrazeneca Plc will post 9.38 EPS for the current 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.