AstraZeneca (NASDAQ:AZN) Sets New 12-Month High at $81.04

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

Wall Street Analyst Weigh In

A number of research firms have weighed in on AZN. The Goldman Sachs Group began coverage on AstraZeneca in a research report on Thursday, May 30th. They set a “buy” rating and a $97.00 price target on the stock. Barclays raised AstraZeneca to a “strong-buy” rating in a report on Monday, June 24th. Citigroup raised shares of AstraZeneca to a “strong-buy” rating in a research note on Monday, June 24th. BMO Capital Markets increased their target price on shares of AstraZeneca from $80.00 to $82.00 and gave the company an “outperform” rating in a report on Friday, April 26th. Finally, Argus boosted their price target on shares of AstraZeneca from $80.00 to $85.00 and gave the stock a “buy” rating in a research note on Thursday, May 30th. Three investment analysts have rated the stock with a hold rating, five have given a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat, AstraZeneca presently has an average rating of “Buy” and an average target price of $88.00.

AstraZeneca Stock Up 2.6 %

The firm has a market cap of $251.76 billion, a PE 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 company’s 50-day simple moving average is $78.55 and its two-hundred day simple moving average is $72.13.

AstraZeneca (NASDAQ:AZN) last announced its quarterly earnings results on Thursday, July 25th. The company reported $0.99 earnings per share (EPS) for the quarter, beating 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 company had revenue of $12.45 billion for the quarter, compared to the consensus estimate of $12.62 billion. During the same quarter in the previous year, the business earned $1.08 EPS. AstraZeneca’s revenue was up 9.1% compared to the same quarter last year. On average, analysts predict that AstraZeneca PLC will post 4.05 earnings per share for the current fiscal year.

AstraZeneca Cuts Dividend

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

Institutional Investors Weigh In On AstraZeneca

Large investors have recently modified their holdings of the stock. Able Wealth Management LLC purchased a new position in AstraZeneca during the fourth quarter valued at $27,000. Pathway Financial Advisers LLC bought a new stake in AstraZeneca during the first quarter worth about $29,000. Pin Oak Investment Advisors Inc. grew its holdings in AstraZeneca by 468.4% in the fourth quarter. Pin Oak Investment Advisors Inc. now owns 449 shares of the company’s stock worth $30,000 after purchasing an additional 370 shares during the period. RFP Financial Group LLC increased 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 valued at $33,000 after purchasing an additional 178 shares in the last quarter. Finally, Northwest Financial Advisors purchased a new position in shares of AstraZeneca during the fourth quarter valued at approximately $34,000. Institutional investors own 20.35% of the company’s stock.

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.