Astrazeneca PLC (AZN) Given a $41.00 Price Target at Bank of America Corp.
Astrazeneca PLC (NYSE:AZN) has been given a $41.00 target price by investment analysts at Bank of America Corp. in a research note issued on Tuesday. The brokerage currently has a a “buy” rating on the stock. Bank of America Corp.’s price target would indicate a potential upside of 25.88% from the company’s current price.
AZN has been the topic of a number of other research reports. Argus raised Astrazeneca PLC from a “hold” rating to a “buy” rating and set a $38.00 target price on the stock in a report on Monday, August 29th. Piper Jaffray Cos. started coverage on Astrazeneca PLC in a report on Friday, September 23rd. They issued an “overweight” rating on the stock. BNP Paribas lowered Astrazeneca PLC from an “outperform” rating to a “neutral” rating in a report on Tuesday, September 13th. Berenberg Bank reissued a “buy” rating on shares of Astrazeneca PLC in a report on Sunday, September 11th. Finally, Shore Capital reissued a “hold” rating on shares of Astrazeneca PLC in a report on Wednesday, September 28th. Three analysts have rated the stock with a sell rating, eight have given a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the company. The company has an average rating of “Buy” and an average target price of $37.44.
Shares of Astrazeneca PLC (NYSE:AZN) traded up 0.169% on Tuesday, reaching $32.625. The company’s stock had a trading volume of 2,925,663 shares. Astrazeneca PLC has a 1-year low of $26.97 and a 1-year high of $35.04. The company has a 50 day moving average of $33.33 and a 200 day moving average of $30.74. The stock has a market capitalization of $82.54 billion, a P/E ratio of 37.286 and a beta of 0.75.
Astrazeneca PLC (NYSE:AZN) last released its earnings results on Thursday, July 28th. The company reported $0.83 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.76 by $0.07. The business had revenue of $5.60 billion for the quarter, compared to analyst estimates of $5.56 billion. Astrazeneca PLC had a return on equity of 28.02% and a net margin of 9.23%. The company’s revenue for the quarter was down 4.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.21 earnings per share. Equities research analysts expect that Astrazeneca PLC will post $2.97 earnings per share for the current fiscal year.
The company also recently declared a dividend, which was paid on Monday, September 12th. Shareholders of record on Friday, August 12th were paid a dividend of $0.44 per share. The ex-dividend date of this dividend was Wednesday, August 10th. Astrazeneca PLC’s dividend payout ratio is presently 78.29%.
A number of large investors have recently made changes to their positions in AZN. Veritable L.P. raised its stake in shares of Astrazeneca PLC by 0.5% in the second quarter. Veritable L.P. now owns 9,972 shares of the company’s stock valued at $301,000 after buying an additional 54 shares in the last quarter. Fifth Third Bancorp raised its stake in Astrazeneca PLC by 2.3% in the second quarter. Fifth Third Bancorp now owns 4,631 shares of the company’s stock worth $140,000 after buying an additional 103 shares during the period. Logan Capital Management Inc. raised its stake in Astrazeneca PLC by 0.6% in the first quarter. Logan Capital Management Inc. now owns 19,698 shares of the company’s stock worth $554,000 after buying an additional 109 shares during the period. National Planning Corp raised its stake in Astrazeneca PLC by 1.0% in the second quarter. National Planning Corp now owns 17,742 shares of the company’s stock worth $607,000 after buying an additional 175 shares during the period. Finally, BOKF NA raised its stake in Astrazeneca PLC by 0.7% in the second quarter. BOKF NA now owns 24,387 shares of the company’s stock worth $737,000 after buying an additional 181 shares during the period. Institutional investors own 11.39% of the company’s stock.
Astrazeneca PLC Company Profile
AstraZeneca PLC (AstraZeneca) is a biopharmaceutical company. The Company focuses on the discovery, development and commercialization of prescription medicines, primarily for the treatment of diseases in various therapy areas, including respiratory, inflammation, autoimmune disease (RIA), cardiovascular and metabolic disease (CVMD) and oncology, as well as in infection, neuroscience and gastrointestinal areas.
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