AstraZeneca PLC (NASDAQ:AZN) Receives Average Rating of “Moderate Buy” from Analysts

AstraZeneca PLC (NASDAQ:AZN) has been assigned an average recommendation of “Moderate Buy” from the eleven ratings firms that are presently covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, one has given a hold recommendation, seven have given a buy recommendation and two have assigned a strong buy recommendation to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $89.75.

AZN has been the subject of a number of research analyst reports. Deutsche Bank Aktiengesellschaft cut AstraZeneca from a “hold” rating to a “sell” rating in a research report on Friday, September 13th. Barclays raised AstraZeneca to a “strong-buy” rating in a report on Monday, June 24th. TD Cowen lifted their target price on shares of AstraZeneca from $90.00 to $95.00 and gave the company a “buy” rating in a report on Monday, August 12th. Citigroup upgraded shares of AstraZeneca to a “strong-buy” rating in a research note on Monday, June 24th. Finally, Erste Group Bank upgraded shares of AstraZeneca from a “hold” rating to a “buy” rating in a research note on Wednesday, September 11th.

AstraZeneca Stock Up 0.3 %

AZN stock opened at $78.26 on Friday. The company’s 50 day moving average is $81.13 and its two-hundred day moving average is $78.20. AstraZeneca has a twelve month low of $60.47 and a twelve month high of $87.68. The company has a current ratio of 0.89, a quick ratio of 0.69 and a debt-to-equity ratio of 0.69. The stock has a market cap of $242.65 billion, a P/E ratio of 38.36, a PEG ratio of 1.44 and a beta of 0.46.

AstraZeneca (NASDAQ:AZN) last announced its quarterly earnings results on Thursday, July 25th. The company reported $0.99 EPS for the quarter, topping the consensus estimate of $0.98 by $0.01. AstraZeneca had a net margin of 13.11% and a return on equity of 29.34%. The firm had revenue of $12.45 billion for the quarter, compared to analyst estimates of $12.62 billion. During the same period last year, the business earned $1.08 EPS. AstraZeneca’s revenue for the quarter was up 9.1% compared to the same quarter last year. Research analysts expect that AstraZeneca will post 4.07 earnings per share for the current fiscal year.

AstraZeneca Cuts Dividend

The company also recently disclosed a Semi-Annual dividend, which was paid on Monday, September 9th. Shareholders of record on Friday, August 9th were given a dividend of $0.49 per share. The ex-dividend date was Friday, August 9th. This represents a yield of 1.8%. AstraZeneca’s payout ratio is currently 48.04%.

Institutional Trading of AstraZeneca

Several hedge funds and other institutional investors have recently made changes to their positions in AZN. Price T Rowe Associates Inc. MD raised its holdings in AstraZeneca by 17.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 61,271,974 shares of the company’s stock worth $4,151,177,000 after purchasing an additional 9,002,450 shares in the last quarter. Swedbank AB purchased a new position in shares of AstraZeneca during the 1st quarter worth approximately $186,127,000. Manning & Napier Advisors LLC acquired a new stake in shares of AstraZeneca in the 2nd quarter valued at approximately $188,476,000. Hsbc Holdings PLC boosted its stake in shares of AstraZeneca by 750.3% in the second quarter. Hsbc Holdings PLC now owns 1,283,274 shares of the company’s stock valued at $100,523,000 after buying an additional 1,132,362 shares in the last quarter. Finally, Farallon Capital Management LLC grew its holdings in AstraZeneca by 65.1% during the second quarter. Farallon Capital Management LLC now owns 2,409,718 shares of the company’s stock worth $187,934,000 after acquiring an additional 950,000 shares during the period. Hedge funds and other institutional investors own 20.35% of the company’s stock.

About AstraZeneca

AstraZeneca PLC, a biopharmaceutical company, focuses on the discovery, development, manufacture, and commercialization of prescription medicines. The company’s marketed products include Tagrisso, Imfinzi, Lynparza, Calquence, Enhertu, Orpathys, Truqap, Zoladex, Faslodex, Farxiga, Brilinta, Lokelma, Roxadustat, Andexxa, Crestor, Seloken, Onglyza, Bydureon, Fasenra, Breztri, Symbicort, Saphnelo, Tezspire, Pulmicort, Bevespi, and Daliresp for cardiovascular, renal, metabolism, and oncology.