Goldman Sachs Group Inc. Reiterates Sell Rating for Astrazeneca PLC (AZN)
Astrazeneca PLC (NYSE:AZN)‘s stock had its “sell” rating restated by equities researchers at Goldman Sachs Group Inc. in a research report issued to clients and investors on Wednesday.
Other equities analysts also recently issued research reports about the stock. Zacks Investment Research downgraded shares of Astrazeneca PLC from a “hold” rating to a “sell” rating in a research note on Tuesday. Shore Capital reaffirmed a “hold” rating on shares of Astrazeneca PLC in a research note on Wednesday, July 27th. JPMorgan Chase & Co. reaffirmed a “neutral” rating on shares of Astrazeneca PLC in a research note on Monday, August 8th. Cantor Fitzgerald reissued a “buy” rating on shares of Astrazeneca PLC in a research note on Tuesday. Finally, Argus began coverage on shares of Astrazeneca PLC in a research note on Tuesday, July 12th. They set a “hold” rating for the company. Three analysts have rated the stock with a sell rating, eight have issued a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $37.49.
Astrazeneca PLC (NYSE:AZN) opened at 32.57 on Wednesday. The firm has a market capitalization of $82.40 billion, a price-to-earnings ratio of 37.22 and a beta of 0.75. The company has a 50-day moving average of $33.33 and a 200-day moving average of $30.74. Astrazeneca PLC has a 52 week low of $26.97 and a 52 week high of $35.04.
Astrazeneca PLC (NYSE:AZN) last issued its earnings results on Thursday, July 28th. The company reported $0.83 earnings per share for the quarter, beating analysts’ consensus estimates of $0.76 by $0.07. Astrazeneca PLC had a net margin of 9.23% and a return on equity of 28.02%. The firm had revenue of $5.60 billion for the quarter, compared to analyst estimates of $5.56 billion. During the same quarter last year, the business posted $1.21 earnings per share. The company’s quarterly revenue was down 4.0% on a year-over-year basis. On average, equities analysts forecast that Astrazeneca PLC will post $2.97 earnings per share for the current fiscal year.
The business also recently disclosed a dividend, which was paid on Monday, September 12th. Shareholders of record on Friday, August 12th were given a $0.44 dividend. The ex-dividend date of this dividend was Wednesday, August 10th. Astrazeneca PLC’s dividend payout ratio is 78.29%.
A number of hedge funds have recently made changes to their positions in the company. Stockman Asset Management raised its stake in shares of Astrazeneca PLC by 11.3% in the first quarter. Stockman Asset Management now owns 62,700 shares of the company’s stock valued at $1,766,000 after buying an additional 6,380 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in Astrazeneca PLC by 5.2% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 202,584 shares of the company’s stock valued at $5,705,000 after buying an additional 10,015 shares during the period. BB&T Securities LLC raised its stake in Astrazeneca PLC by 61.8% in the first quarter. BB&T Securities LLC now owns 119,216 shares of the company’s stock valued at $3,357,000 after buying an additional 45,556 shares during the period. M&T Bank Corp raised its stake in Astrazeneca PLC by 12.8% in the first quarter. M&T Bank Corp now owns 872,594 shares of the company’s stock valued at $24,573,000 after buying an additional 99,219 shares during the period. Finally, Bessemer Group Inc. raised its stake in Astrazeneca PLC by 32.2% in the first quarter. Bessemer Group Inc. now owns 42,760 shares of the company’s stock valued at $1,204,000 after buying an additional 10,418 shares during the period. 11.39% of the stock is currently owned by institutional investors and hedge funds.
About Astrazeneca PLC
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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