Astrazeneca PLC’s (AZN) “Hold” Rating Reiterated at Leerink Swann
Astrazeneca PLC (NYSE:AZN)‘s stock had its “hold” rating reiterated by investment analysts at Leerink Swann in a report released on Sunday. They presently have a $35.00 price objective on the stock. Leerink Swann’s price target indicates a potential upside of 8.39% from the company’s previous close.
Several other brokerages have also weighed in on AZN. JPMorgan Chase & Co. reaffirmed a “neutral” rating on shares of Astrazeneca PLC in a research report on Monday, August 8th. Cantor Fitzgerald reaffirmed a “buy” rating on shares of Astrazeneca PLC in a research report on Monday, August 8th. Piper Jaffray Cos. began coverage on Astrazeneca PLC in a research report on Friday, September 23rd. They issued an “overweight” rating on the stock. Citigroup Inc. reaffirmed a “buy” rating on shares of Astrazeneca PLC in a research report on Wednesday, August 10th. Finally, Deutsche Bank AG reaffirmed a “buy” rating on shares of Astrazeneca PLC in a research report on Wednesday, September 28th. Three research analysts have rated the stock with a sell rating, eight have given a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $37.56.
Shares of Astrazeneca PLC (NYSE:AZN) opened at 32.29 on Friday. The company has a market capitalization of $81.69 billion, a P/E ratio of 36.90 and a beta of 0.75. The stock has a 50 day moving average price of $33.23 and a 200-day moving average price of $30.79. Astrazeneca PLC has a one year low of $26.97 and a one year 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, topping the consensus estimate of $0.76 by $0.07. Astrazeneca PLC had a return on equity of 28.02% and a net margin of 9.23%. The company had revenue of $5.60 billion for the quarter, compared to analyst estimates of $5.56 billion. During the same period in the prior year, the firm posted $1.21 EPS. The business’s revenue was down 4.0% compared to the same quarter last year. Equities research analysts predict that Astrazeneca PLC will post $2.97 earnings per share for the current fiscal year.
The business also recently announced a dividend, which was paid on Monday, September 12th. Stockholders of record on Friday, August 12th were issued a $0.44 dividend. The ex-dividend date was Wednesday, August 10th. Astrazeneca PLC’s payout ratio is presently 78.29%.
Several institutional investors have recently modified their holdings of the company. Dodge & Cox boosted its position in shares of Astrazeneca PLC by 121.2% in the first quarter. Dodge & Cox now owns 26,049,650 shares of the company’s stock worth $733,558,000 after buying an additional 14,272,518 shares during the last quarter. Primecap Management Co. CA boosted its position in shares of Astrazeneca PLC by 1,223.1% in the first quarter. Primecap Management Co. CA now owns 13,084,275 shares of the company’s stock worth $368,453,000 after buying an additional 12,095,375 shares during the last quarter. Capital International Investors boosted its position in shares of Astrazeneca PLC by 22.1% in the second quarter. Capital International Investors now owns 20,473,479 shares of the company’s stock worth $618,094,000 after buying an additional 3,705,199 shares during the last quarter. BlackRock Investment Management LLC boosted its position in shares of Astrazeneca PLC by 73.2% in the second quarter. BlackRock Investment Management LLC now owns 7,207,036 shares of the company’s stock worth $217,580,000 after buying an additional 3,046,268 shares during the last quarter. Finally, Becker Capital Management Inc. bought a new position in shares of Astrazeneca PLC during the second quarter worth about $35,701,000. 11.39% of the stock is 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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