AstraZeneca (NASDAQ:AZN) Shares Gap Up – What’s Next?

AstraZeneca PLC (NASDAQ:AZN)’s stock price gapped up prior to trading on Thursday . The stock had previously closed at $72.22, but opened at $75.62. AstraZeneca shares last traded at $74.70, with a volume of 1,320,608 shares trading hands.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on AZN shares. Morgan Stanley initiated coverage on AstraZeneca in a research report on Wednesday, February 12th. They set an “overweight” rating for the company. UBS Group raised AstraZeneca from a “neutral” rating to a “buy” rating in a research note on Thursday, February 13th. One analyst has rated the stock with a hold rating, seven have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $89.75.

AstraZeneca Stock Performance

The firm’s fifty day simple moving average is $73.86 and its 200 day simple moving average is $71.54. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.93 and a quick ratio of 0.74. The company has a market capitalization of $231.66 billion, a price-to-earnings ratio of 33.05, a PEG ratio of 1.42 and a beta of 0.41.

AstraZeneca (NASDAQ:AZN) last posted its quarterly earnings results on Thursday, February 6th. The company reported $1.05 earnings per share for the quarter, missing the consensus estimate of $1.10 by ($0.05). AstraZeneca had a net margin of 13.01% and a return on equity of 32.23%. On average, sell-side analysts forecast that AstraZeneca PLC will post 4.51 EPS for the current year.

AstraZeneca Increases Dividend

The company also recently announced a semi-annual dividend, which was paid on Monday, March 24th. Shareholders of record on Friday, February 21st were given a $1.03 dividend. This is a positive change from AstraZeneca’s previous semi-annual dividend of $0.49. This represents a yield of 2%. The ex-dividend date was Friday, February 21st. AstraZeneca’s dividend payout ratio is presently 91.15%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Banque Transatlantique SA bought a new position in AstraZeneca during the fourth quarter worth about $26,000. Confluence Investment Management LLC bought a new position in AstraZeneca during the 1st quarter valued at about $27,000. Mascagni Wealth Management Inc. bought a new stake in AstraZeneca during the fourth quarter worth about $29,000. Albion Financial Group UT grew its position in AstraZeneca by 68.9% during the 4th quarter. Albion Financial Group UT now owns 608 shares of the company’s stock worth $40,000 after acquiring an additional 248 shares during the last quarter. Finally, Groupama Asset Managment increased its stake in shares of AstraZeneca by 22.9% in the third quarter. Groupama Asset Managment now owns 543,398 shares of the company’s stock valued at $42,000 after buying an additional 101,225 shares in the last quarter. 20.35% of the stock is currently owned by institutional investors and hedge funds.

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.