AstraZeneca PLC (NASDAQ:AZN) Receives $88.00 Average PT from Brokerages

AstraZeneca PLC (NASDAQ:AZN) has been assigned a consensus rating of “Moderate Buy” from the ten research firms that are currently covering the firm, MarketBeat Ratings reports. Three research analysts have rated the stock with a hold rating, five have issued a buy rating and two have assigned a strong buy rating to the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $88.00.

A number of research firms have commented on AZN. Deutsche Bank Aktiengesellschaft upgraded shares of AstraZeneca from a “sell” rating to a “hold” rating in a research note on Tuesday, April 16th. BMO Capital Markets increased their price objective on shares of AstraZeneca from $80.00 to $82.00 and gave the company an “outperform” rating in a research note on Friday, April 26th. Citigroup upgraded shares of AstraZeneca to a “strong-buy” rating in a research note on Monday, June 24th. Argus increased their price objective on shares of AstraZeneca from $80.00 to $85.00 and gave the company a “buy” rating in a research note on Thursday, May 30th. Finally, The Goldman Sachs Group assumed coverage on shares of AstraZeneca in a research report on Thursday, May 30th. They issued a “buy” rating and a $97.00 price target on the stock.

AstraZeneca Price Performance

AZN opened at $81.81 on Tuesday. The company has a fifty day simple moving average of $78.68 and a 200 day simple moving average of $72.32. The firm has a market cap of $253.65 billion, a price-to-earnings ratio of 40.10, a PEG ratio of 1.54 and a beta of 0.45. AstraZeneca has a twelve month low of $60.47 and a twelve month high of $82.01. The company has a current ratio of 0.89, a quick ratio of 0.69 and a debt-to-equity ratio of 0.69.

AstraZeneca (NASDAQ:AZN) last released its quarterly earnings results on Thursday, July 25th. The company reported $0.99 earnings per share for the quarter, beating analysts’ consensus estimates of $0.98 by $0.01. The business had revenue of $12.45 billion during the quarter, compared to analyst estimates of $12.62 billion. AstraZeneca had a net margin of 13.11% and a return on equity of 29.34%. The business’s revenue was up 9.1% on a year-over-year basis. During the same period last year, the business earned $1.08 EPS. Equities research analysts expect that AstraZeneca will post 4.05 EPS for the current fiscal year.

AstraZeneca Cuts Dividend

The company also recently disclosed a Semi-Annual dividend, which will be paid on Monday, September 9th. Investors of record on Friday, August 9th will be given a $0.49 dividend. The ex-dividend date of this dividend is Friday, August 9th. This represents a yield of 1.8%. AstraZeneca’s dividend payout ratio is presently 48.04%.

Institutional Trading of AstraZeneca

Hedge funds have recently bought and sold shares of the company. Cerity Partners LLC lifted its position in AstraZeneca by 113.0% in the 4th quarter. Cerity Partners LLC now owns 95,677 shares of the company’s stock valued at $6,444,000 after purchasing an additional 50,750 shares during the last quarter. Raymond James Financial Services Advisors Inc. increased its stake in AstraZeneca by 43.7% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 163,011 shares of the company’s stock valued at $10,979,000 after buying an additional 49,541 shares during the period. Assetmark Inc. increased its stake in AstraZeneca by 11.2% during the 4th quarter. Assetmark Inc. now owns 154,906 shares of the company’s stock valued at $10,433,000 after buying an additional 15,642 shares during the period. International Assets Investment Management LLC acquired a new position in AstraZeneca during the 4th quarter valued at about $10,395,000. Finally, Cox Capital Mgt LLC acquired a new position in AstraZeneca during the 1st quarter valued at about $2,683,000. 20.35% of the stock is currently owned by institutional investors.

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.