Astrazeneca PLC (NYSE:AZN) Stock Rating Lowered by BidaskClub
BidaskClub downgraded shares of Astrazeneca PLC (NYSE:AZN) from a buy rating to a hold rating in a research note released on Tuesday, July 11th.
A number of other research analysts have also recently weighed in on AZN. UBS AG cut Astrazeneca PLC from a buy rating to a neutral rating and dropped their price target for the company from $35.44 to $25.55 in a research report on Wednesday, April 5th. Jefferies Group LLC restated a hold rating on shares of Astrazeneca PLC in a research report on Monday, April 10th. HSBC Holdings plc cut Astrazeneca PLC from a hold rating to a reduce rating in a research report on Friday, April 7th. Barclays PLC restated an overweight rating on shares of Astrazeneca PLC in a research report on Monday, July 3rd. Finally, Leerink Swann restated an outperform rating and issued a $36.00 price target (up previously from $33.00) on shares of Astrazeneca PLC in a research report on Wednesday, May 17th. Four analysts have rated the stock with a sell rating, eleven have given a hold rating and ten have given a buy rating to the company’s stock. The company currently has a consensus rating of Hold and an average target price of $33.39.
Shares of Astrazeneca PLC (NYSE:AZN) opened at 30.17 on Tuesday. Astrazeneca PLC has a one year low of $25.55 and a one year high of $35.60. The stock has a market cap of $76.39 billion, a price-to-earnings ratio of 19.79 and a beta of 0.74. The company has a 50-day moving average of $33.57 and a 200 day moving average of $31.37.
Astrazeneca PLC (NYSE:AZN) last announced its quarterly earnings results on Thursday, July 27th. The company reported $0.87 earnings per share for the quarter, beating analysts’ consensus estimates of $0.41 by $0.46. Astrazeneca PLC had a return on equity of 35.90% and a net margin of 17.80%. The business had revenue of $5.05 billion during the quarter, compared to analysts’ expectations of $5.04 billion. During the same quarter last year, the business posted $0.83 earnings per share. The business’s revenue for the quarter was down 9.9% on a year-over-year basis. On average, equities analysts forecast that Astrazeneca PLC will post $1.85 earnings per share for the current fiscal year.
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The company also recently disclosed a None dividend, which will be paid on Monday, September 11th. Stockholders of record on Friday, August 11th will be paid a $0.44 dividend. This represents a dividend yield of 2.98%. The ex-dividend date is Wednesday, August 9th. Astrazeneca PLC’s dividend payout ratio is currently 44.92%.
Several institutional investors have recently added to or reduced their stakes in AZN. Wellington Management Group LLP raised its position in Astrazeneca PLC by 7.9% in the first quarter. Wellington Management Group LLP now owns 63,250,780 shares of the company’s stock valued at $1,969,630,000 after buying an additional 4,605,694 shares in the last quarter. Dodge & Cox purchased a new position in Astrazeneca PLC during the fourth quarter valued at $1,355,443,000. Bank of America Corp DE raised its position in Astrazeneca PLC by 29.5% in the first quarter. Bank of America Corp DE now owns 45,744,976 shares of the company’s stock valued at $1,424,498,000 after buying an additional 10,414,969 shares in the last quarter. Primecap Management Co. CA raised its position in Astrazeneca PLC by 32.1% in the first quarter. Primecap Management Co. CA now owns 34,310,950 shares of the company’s stock valued at $1,068,443,000 after buying an additional 8,330,675 shares in the last quarter. Finally, Fisher Asset Management LLC raised its position in Astrazeneca PLC by 476.9% in the second quarter. Fisher Asset Management LLC now owns 11,081,856 shares of the company’s stock valued at $377,780,000 after buying an additional 9,160,764 shares in the last quarter. 14.39% 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 discovery and development of products, which are then manufactured, marketed and sold. The Company focuses on three main therapy areas: Oncology, Cardiovascular & Metabolic Disease (CVMD) and Respiratory, while selectively pursuing therapies in Autoimmunity, Infection and Neuroscience.
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