AstraZeneca PLC (NASDAQ:AZN) Receives Average Rating of “Moderate Buy” from Brokerages

AstraZeneca PLC (NASDAQ:AZN) has received an average rating of “Moderate Buy” from the eleven research firms that are currently covering the stock, Marketbeat.com reports. Three 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 company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $89.75.

A number of analysts have recently issued reports on AZN shares. Argus raised their target price 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. TD Cowen increased their price target on shares of AstraZeneca from $90.00 to $95.00 and gave the company a “buy” rating in a report on Monday, August 12th. Citigroup upgraded AstraZeneca to a “strong-buy” rating in a report on Monday, June 24th. Barclays raised AstraZeneca to a “strong-buy” rating in a research report on Monday, June 24th. Finally, The Goldman Sachs Group started coverage on AstraZeneca in a report on Thursday, May 30th. They set a “buy” rating and a $97.00 price target for the company.

AstraZeneca Trading Up 0.2 %

AstraZeneca stock opened at $87.36 on Friday. 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 stock has a 50-day simple moving average of $80.28 and a 200 day simple moving average of $74.45. The stock has a market capitalization of $270.86 billion, a P/E ratio of 42.82, a PEG ratio of 1.63 and a beta of 0.45. AstraZeneca has a 52 week low of $60.47 and a 52 week high of $87.55.

AstraZeneca (NASDAQ:AZN) last issued its earnings results on Thursday, July 25th. The company reported $0.99 EPS for the quarter, topping the consensus estimate 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 during the quarter, compared to the consensus estimate of $12.62 billion. During the same period in the previous year, the company posted $1.08 EPS. The firm’s revenue for the quarter was up 9.1% compared to the same quarter last year. Analysts expect that AstraZeneca will post 4.06 earnings per share for the current year.

AstraZeneca Cuts Dividend

The business 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 dividend yield of 1.8%. The ex-dividend date is Friday, August 9th. AstraZeneca’s dividend payout ratio (DPR) is currently 48.04%.

Hedge Funds Weigh In On AstraZeneca

A number of hedge funds have recently added to or reduced their stakes in the stock. GHP Investment Advisors Inc. acquired a new stake in shares of AstraZeneca during the 2nd quarter worth $26,000. Able Wealth Management LLC bought a new position in AstraZeneca in the 4th quarter valued at about $27,000. Pathway Financial Advisers LLC acquired a new position in shares of AstraZeneca in the 1st quarter valued at approximately $29,000. Pin Oak Investment Advisors Inc. lifted its holdings in shares of AstraZeneca by 468.4% during the 4th quarter. Pin Oak Investment Advisors Inc. now owns 449 shares of the company’s stock worth $30,000 after acquiring an additional 370 shares during the period. Finally, RFP Financial Group LLC boosted its position in shares of AstraZeneca by 56.3% during the 1st quarter. RFP Financial Group LLC now owns 494 shares of the company’s stock worth $33,000 after acquiring an additional 178 shares in the last quarter. 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.