AstraZeneca PLC (NASDAQ:AZN) Receives $89.75 Consensus PT from Analysts

AstraZeneca PLC (NASDAQ:AZN) has been assigned a consensus rating of “Moderate Buy” from the eleven ratings firms that are covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, one has issued a hold recommendation, seven have issued a buy recommendation and two have given a strong buy recommendation to the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $89.75.

AZN has been the subject of several analyst reports. Barclays raised shares of AstraZeneca to a “strong-buy” rating in a research report on Monday, June 24th. Erste Group Bank raised AstraZeneca from a “hold” rating to a “buy” rating in a report on Wednesday, September 11th. Argus upped their price target on AstraZeneca from $80.00 to $85.00 and gave the company a “buy” rating in a report on Thursday, May 30th. Citigroup upgraded AstraZeneca to a “strong-buy” rating in a report on Monday, June 24th. Finally, TD Cowen upped their target price on shares of AstraZeneca from $90.00 to $95.00 and gave the company a “buy” rating in a research note on Monday, August 12th.

Institutional Trading of AstraZeneca

A number of hedge funds and other institutional investors have recently modified their holdings of AZN. Lindbrook Capital LLC boosted its stake in AstraZeneca by 1.7% in the 1st quarter. Lindbrook Capital LLC now owns 8,005 shares of the company’s stock worth $542,000 after purchasing an additional 137 shares during the period. Bruce G. Allen Investments LLC grew its stake in AstraZeneca by 19.1% during the second quarter. Bruce G. Allen Investments LLC now owns 860 shares of the company’s stock valued at $67,000 after acquiring an additional 138 shares in the last quarter. Carnegie Investment Counsel grew its stake in AstraZeneca by 0.8% during the second quarter. Carnegie Investment Counsel now owns 17,269 shares of the company’s stock valued at $1,347,000 after acquiring an additional 138 shares in the last quarter. CANADA LIFE ASSURANCE Co increased its holdings in AstraZeneca by 40.6% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 506 shares of the company’s stock valued at $34,000 after acquiring an additional 146 shares during the last quarter. Finally, Sunpointe LLC lifted its stake in AstraZeneca by 4.5% in the 2nd quarter. Sunpointe LLC now owns 3,419 shares of the company’s stock worth $267,000 after purchasing an additional 147 shares in the last quarter. 20.35% of the stock is owned by hedge funds and other institutional investors.

AstraZeneca Stock Performance

Shares of AZN opened at $78.38 on Wednesday. The company has a quick ratio of 0.69, a current ratio of 0.89 and a debt-to-equity ratio of 0.69. The business’s 50 day moving average price is $81.80 and its 200-day moving average price is $76.65. AstraZeneca has a 52 week low of $60.47 and a 52 week high of $87.68. The stock has a market cap of $243.02 billion, a P/E ratio of 38.42, a P/E/G ratio of 1.49 and a beta of 0.47.

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

AstraZeneca Cuts Dividend

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

AstraZeneca Company Profile

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.