AstraZeneca (NASDAQ:AZN) Now Covered by Analysts at Morgan Stanley

Morgan Stanley began coverage on shares of AstraZeneca (NASDAQ:AZN) in a research note released on Wednesday morning, Marketbeat reports. The firm issued an overweight rating on the stock.

Other analysts have also recently issued research reports about the company. UBS Group raised AstraZeneca from a “sell” rating to a “neutral” rating in a report on Wednesday, November 20th. Deutsche Bank Aktiengesellschaft upgraded shares of AstraZeneca from a “sell” rating to a “hold” rating in a research report on Wednesday, November 6th. Two research analysts have rated the stock with a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, AstraZeneca presently has an average rating of “Buy” and an average price target of $89.75.

AstraZeneca Price Performance

Shares of NASDAQ:AZN opened at $74.43 on Wednesday. The company has a 50 day moving average of $67.67 and a 200 day moving average of $73.48. The company has a current ratio of 0.93, a quick ratio of 0.71 and a debt-to-equity ratio of 0.71. The stock has a market cap of $230.81 billion, a P/E ratio of 32.93, a P/E/G ratio of 1.20 and a beta of 0.46. AstraZeneca has a 12 month low of $60.76 and a 12 month high of $87.68.

AstraZeneca (NASDAQ:AZN) last released its quarterly earnings results on Thursday, February 6th. The company reported $1.05 EPS for the quarter, missing analysts’ consensus estimates of $1.10 by ($0.05). AstraZeneca had a net margin of 13.01% and a return on equity of 32.55%. As a group, sell-side analysts forecast that AstraZeneca will post 4.66 EPS for the current fiscal year.

AstraZeneca Increases Dividend

The company also recently announced a semi-annual dividend, which will be paid on Monday, March 24th. Investors of record on Friday, February 21st will be given a $1.03 dividend. This is an increase from AstraZeneca’s previous semi-annual dividend of $0.49. The ex-dividend date is Friday, February 21st. This represents a yield of 2%. AstraZeneca’s payout ratio is presently 43.36%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Exchange Traded Concepts LLC grew its stake in shares of AstraZeneca by 82.9% during the third quarter. Exchange Traded Concepts LLC now owns 24,967 shares of the company’s stock valued at $1,945,000 after buying an additional 11,315 shares during the last quarter. ORG Partners LLC boosted its holdings in AstraZeneca by 26.0% during the 3rd quarter. ORG Partners LLC now owns 1,220 shares of the company’s stock valued at $95,000 after acquiring an additional 252 shares during the period. Creative Planning grew its position in AstraZeneca by 8.0% during the 3rd quarter. Creative Planning now owns 224,751 shares of the company’s stock worth $17,510,000 after acquiring an additional 16,692 shares during the last quarter. Swedbank AB grew its position in AstraZeneca by 1.3% during the 3rd quarter. Swedbank AB now owns 2,705,757 shares of the company’s stock worth $210,806,000 after acquiring an additional 35,000 shares during the last quarter. Finally, Foster Victor Wealth Advisors LLC increased its stake in AstraZeneca by 13.2% in the 3rd quarter. Foster Victor Wealth Advisors LLC now owns 3,759 shares of the company’s stock worth $291,000 after purchasing an additional 437 shares during the period. 20.35% of the stock is currently owned by institutional investors.

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.