AstraZeneca PLC (NASDAQ:AZN) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of AstraZeneca PLC (NASDAQ:AZN) have earned an average recommendation of “Moderate Buy” from the eleven analysts that are presently covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, seven have issued a buy rating and two have issued a strong buy rating on the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $89.75.

Several research analysts have issued reports on the company. Deutsche Bank Aktiengesellschaft lowered AstraZeneca from a “hold” rating to a “sell” rating in a research report on Friday, September 13th. Citigroup upgraded AstraZeneca to a “strong-buy” rating in a report on Monday, June 24th. Barclays upgraded AstraZeneca to a “strong-buy” rating in a research note on Monday, June 24th. Argus boosted their target price 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 note on Thursday, May 30th. They issued a “buy” rating and a $97.00 price target on the stock.

AstraZeneca Trading Down 0.7 %

Shares of AZN stock opened at $78.38 on Wednesday. The company has a market cap of $243.02 billion, a PE ratio of 38.42, a price-to-earnings-growth ratio of 1.49 and a beta of 0.47. AstraZeneca has a 1 year low of $60.47 and a 1 year high of $87.68. The stock’s 50 day simple moving average is $81.80 and its two-hundred day simple moving average is $76.65. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.89 and a quick ratio of 0.69.

AstraZeneca (NASDAQ:AZN) last posted its quarterly earnings data 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 for the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.08 earnings per share. Research analysts predict that AstraZeneca will post 4.05 earnings per share for the current year.

AstraZeneca Cuts Dividend

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

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. GHP Investment Advisors Inc. purchased a new position in shares of AstraZeneca in the 2nd quarter valued at approximately $26,000. Able Wealth Management LLC acquired a new position in AstraZeneca during the 4th quarter valued at approximately $27,000. Pathway Financial Advisers LLC purchased a new position in shares of AstraZeneca in the first quarter worth $29,000. Pin Oak Investment Advisors Inc. lifted its stake in shares of AstraZeneca by 468.4% during the fourth quarter. Pin Oak Investment Advisors Inc. now owns 449 shares of the company’s stock worth $30,000 after buying an additional 370 shares during the period. Finally, RFP Financial Group LLC lifted its stake in shares of AstraZeneca by 56.3% during the first quarter. RFP Financial Group LLC now owns 494 shares of the company’s stock worth $33,000 after buying an additional 178 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.