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

Shares of AstraZeneca PLC (NASDAQ:AZN) have been given a consensus rating of “Moderate Buy” by the seven brokerages that are currently covering the company, MarketBeat.com reports. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $81.00.

A number of analysts recently weighed in on the company. Jefferies Financial Group downgraded AstraZeneca from a “buy” rating to a “hold” rating in a report on Wednesday, January 3rd. Deutsche Bank Aktiengesellschaft upgraded AstraZeneca from a “sell” rating to a “hold” rating in a research report on Tuesday, April 16th. Morgan Stanley assumed coverage on AstraZeneca in a report on Tuesday, January 23rd. They issued an “overweight” rating on the stock. Finally, BMO Capital Markets raised their price target on shares of AstraZeneca from $80.00 to $82.00 and gave the stock an “outperform” rating in a report on Friday.

AstraZeneca Stock Performance

Shares of AZN stock opened at $75.17 on Friday. The firm has a market capitalization of $233.06 billion, a price-to-earnings ratio of 36.85, a PEG ratio of 1.38 and a beta of 0.50. The company has a current ratio of 0.82, a quick ratio of 0.64 and a debt-to-equity ratio of 0.57. The business’s 50-day moving average price is $67.27 and its 200-day moving average price is $66.06. AstraZeneca has a 12 month low of $60.47 and a 12 month high of $75.81.

AstraZeneca (NASDAQ:AZN) last posted its earnings results on Thursday, February 8th. The company reported $0.73 EPS for the quarter, missing the consensus estimate of $0.74 by ($0.01). The business had revenue of $12.02 billion for the quarter, compared to analyst estimates of $12.07 billion. AstraZeneca had a return on equity of 30.34% and a net margin of 13.30%. The firm’s quarterly revenue was up 7.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.69 earnings per share. Equities research analysts forecast that AstraZeneca will post 4.01 EPS for the current year.

AstraZeneca Increases Dividend

The firm also recently announced a Semi-Annual dividend, which was paid on Monday, March 25th. Investors of record on Friday, February 23rd were paid a dividend of $0.965 per share. The ex-dividend date was Thursday, February 22nd. This represents a yield of 2.3%. This is a boost from AstraZeneca’s previous Semi-Annual dividend of $0.47. AstraZeneca’s dividend payout ratio (DPR) is currently 94.61%.

Hedge Funds Weigh In On AstraZeneca

Several institutional investors have recently added to or reduced their stakes in AZN. Sanders Capital LLC bought a new stake in shares of AstraZeneca in the 3rd quarter valued at $715,198,000. Norges Bank acquired a new position in shares of AstraZeneca during the fourth quarter valued at about $143,999,000. Manning & Napier Group LLC boosted its position in shares of AstraZeneca by 281.2% during the 4th quarter. Manning & Napier Group LLC now owns 2,779,212 shares of the company’s stock worth $187,180,000 after purchasing an additional 2,050,064 shares in the last quarter. Clearbridge Investments LLC increased its position in AstraZeneca by 118.9% in the 4th quarter. Clearbridge Investments LLC now owns 3,592,447 shares of the company’s stock valued at $241,951,000 after buying an additional 1,951,591 shares in the last quarter. Finally, Jennison Associates LLC raised its stake in AstraZeneca by 5.2% during the 3rd quarter. Jennison Associates LLC now owns 22,946,504 shares of the company’s stock worth $1,553,937,000 after buying an additional 1,139,295 shares during the period. 20.35% of the stock is owned by institutional investors and hedge funds.

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.