AstraZeneca (NASDAQ:AZN) Sets New 1-Year High at $81.04

AstraZeneca PLC (NASDAQ:AZN) reached a new 52-week high during mid-day trading on Thursday . The company traded as high as $81.04 and last traded at $81.02, with a volume of 4337371 shares. The stock had previously closed at $79.15.

Analyst Ratings Changes

Several research firms have recently commented on AZN. Barclays upgraded shares of AstraZeneca to a “strong-buy” rating in a research note on Monday, June 24th. Argus increased their price objective on AstraZeneca from $80.00 to $85.00 and gave the company a “buy” rating in a report on Thursday, May 30th. Deutsche Bank Aktiengesellschaft upgraded AstraZeneca from a “sell” rating to a “hold” rating in a research note on Tuesday, April 16th. The Goldman Sachs Group initiated coverage on AstraZeneca in a research report on Thursday, May 30th. They issued a “buy” rating and a $97.00 target price on the stock. Finally, Citigroup raised shares of AstraZeneca to a “strong-buy” rating in a research report on Monday, June 24th. Three investment analysts have rated the stock with a hold rating, five have issued a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat.com, AstraZeneca has an average rating of “Buy” and a consensus target price of $88.00.

AstraZeneca Stock Performance

The stock has a market capitalization of $251.76 billion, a price-to-earnings ratio of 39.72, a PEG ratio of 1.47 and a beta of 0.45. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.69 and a current ratio of 0.89. The firm’s 50 day moving average is $78.55 and its 200-day moving average is $72.13.

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

AstraZeneca Cuts Dividend

The firm also recently disclosed a Semi-Annual dividend, which will be paid on Monday, September 9th. Shareholders of record on Friday, August 9th will be issued a $0.49 dividend. This represents a yield of 1.8%. The ex-dividend date of this dividend is Friday, August 9th. AstraZeneca’s payout ratio is currently 94.61%.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in AZN. Fifth Third Bancorp lifted its stake in AstraZeneca by 18.1% in the 4th quarter. Fifth Third Bancorp now owns 18,160 shares of the company’s stock valued at $1,223,000 after buying an additional 2,780 shares in the last quarter. Pinnacle Financial Partners Inc purchased a new position in shares of AstraZeneca in the fourth quarter valued at approximately $232,000. Drive Wealth Management LLC lifted its position in shares of AstraZeneca by 4.5% in the fourth quarter. Drive Wealth Management LLC now owns 3,911 shares of the company’s stock valued at $263,000 after acquiring an additional 170 shares in the last quarter. Stonegate Investment Group LLC boosted its stake in shares of AstraZeneca by 40.7% in the fourth quarter. Stonegate Investment Group LLC now owns 13,222 shares of the company’s stock worth $891,000 after acquiring an additional 3,824 shares during the last quarter. Finally, Ballentine Partners LLC increased its position in shares of AstraZeneca by 15.0% during the fourth quarter. Ballentine Partners LLC now owns 17,820 shares of the company’s stock worth $1,200,000 after purchasing an additional 2,325 shares in the last quarter. 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.