AstraZeneca (NASDAQ:AZN) Upgraded to “Buy” at UBS Group

UBS Group upgraded shares of AstraZeneca (NASDAQ:AZN) from a neutral rating to a buy rating in a research report released on Thursday, Marketbeat Ratings reports.

Other equities analysts have also issued research reports about the stock. Morgan Stanley began coverage on shares of AstraZeneca in a report on Wednesday. They issued an “overweight” rating on the stock. Deutsche Bank Aktiengesellschaft upgraded AstraZeneca from a “sell” rating to a “hold” rating in a research note on Wednesday, November 6th. One research analyst has rated the stock with a hold rating, seven have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, AstraZeneca presently has an average rating of “Buy” and an average price target of $89.75.

AstraZeneca Price Performance

AZN stock opened at $74.45 on Thursday. The firm has a market cap of $230.88 billion, a P/E ratio of 32.94, a price-to-earnings-growth ratio of 1.20 and a beta of 0.46. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.71 and a current ratio of 0.93. AstraZeneca has a 1 year low of $61.06 and a 1 year high of $87.68. The stock has a 50-day simple moving average of $67.82 and a 200-day simple moving average of $73.49.

AstraZeneca (NASDAQ:AZN) last issued its quarterly earnings data on Thursday, February 6th. The company reported $1.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.10 by ($0.05). AstraZeneca had a net margin of 13.01% and a return on equity of 32.55%. On average, equities analysts predict that AstraZeneca will post 4.66 earnings per share for the current fiscal year.

AstraZeneca Increases Dividend

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

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in AZN. Stratos Wealth Advisors LLC boosted its stake in AstraZeneca by 2.0% during the 3rd quarter. Stratos Wealth Advisors LLC now owns 6,699 shares of the company’s stock valued at $522,000 after purchasing an additional 133 shares in the last quarter. Cibc World Markets Corp lifted its holdings in shares of AstraZeneca by 1.1% in the fourth quarter. Cibc World Markets Corp now owns 12,901 shares of the company’s stock valued at $845,000 after buying an additional 142 shares during the period. Crumly & Associates Inc. boosted its stake in AstraZeneca by 2.2% during the third quarter. Crumly & Associates Inc. now owns 6,644 shares of the company’s stock valued at $518,000 after buying an additional 143 shares in the last quarter. Diversify Wealth Management LLC grew its holdings in AstraZeneca by 3.6% during the fourth quarter. Diversify Wealth Management LLC now owns 4,402 shares of the company’s stock worth $295,000 after acquiring an additional 153 shares during the period. Finally, Veery Capital LLC raised its position in AstraZeneca by 4.7% in the fourth quarter. Veery Capital LLC now owns 3,503 shares of the company’s stock worth $230,000 after acquiring an additional 157 shares in the last quarter. Institutional investors and hedge funds own 20.35% of the company’s stock.

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.