Astrazeneca PLC (AZN) Coverage Initiated at BMO Capital Markets
Equities research analysts at BMO Capital Markets initiated coverage on shares of Astrazeneca PLC (NYSE:AZN) in a report issued on Wednesday. The brokerage set an “outperform” rating and a $38.00 price target on the stock. BMO Capital Markets’ price target indicates a potential upside of 19.16% from the company’s current price.
Other analysts have also issued research reports about the company. Piper Jaffray Companies reaffirmed a “buy” rating on shares of Astrazeneca PLC in a research note on Wednesday, August 9th. Investec raised Astrazeneca PLC from a “hold” rating to a “buy” rating in a research note on Wednesday, August 9th. Argus reaffirmed a “buy” rating and set a $35.00 price objective on shares of Astrazeneca PLC in a research note on Friday, September 1st. Natixis raised Astrazeneca PLC from a “neutral” rating to a “buy” rating in a research note on Wednesday. Finally, Morgan Stanley lowered Astrazeneca PLC from an “overweight” rating to an “equal weight” rating in a research note on Friday, July 28th. Four analysts have rated the stock with a sell rating, eleven have given a hold rating and thirteen have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $33.60.
Astrazeneca PLC (NYSE:AZN) opened at 31.89 on Wednesday. The stock has a market cap of $80.75 billion, a price-to-earnings ratio of 20.92 and a beta of 0.74. The stock’s 50 day moving average price is $30.25 and its 200 day moving average price is $31.60. Astrazeneca PLC has a 12-month low of $25.55 and a 12-month high of $35.60. Astrazeneca PLC also was the target of some unusual options trading on Wednesday. Traders bought 8,259 put options on the company. This is an increase of approximately 1,510% compared to the average volume of 513 put options.
Astrazeneca PLC (NYSE:AZN) last posted its quarterly earnings data on Thursday, July 27th. The company reported $0.87 EPS for the quarter, beating analysts’ consensus estimates of $0.41 by $0.46. The business had revenue of $5.05 billion for the quarter, compared to analyst estimates of $5.04 billion. Astrazeneca PLC had a return on equity of 35.90% and a net margin of 17.80%. The business’s revenue for the quarter was down 9.9% compared to the same quarter last year. During the same quarter last year, the company earned $0.83 earnings per share. Analysts forecast that Astrazeneca PLC will post $1.85 EPS for the current fiscal year.
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Large investors have recently made changes to their positions in the stock. PVG Asset Management Corp purchased a new stake in shares of Astrazeneca PLC during the 1st quarter valued at about $8,242,000. Liberty Mutual Group Asset Management Inc. purchased a new stake in shares of Astrazeneca PLC during the 1st quarter valued at about $890,000. Oppenheimer Asset Management Inc. purchased a new stake in shares of Astrazeneca PLC during the 1st quarter valued at about $12,038,000. Stifel Financial Corp raised its holdings in shares of Astrazeneca PLC by 53.2% during the 1st quarter. Stifel Financial Corp now owns 360,447 shares of the company’s stock valued at $11,242,000 after buying an additional 125,093 shares during the period. Finally, Parkside Financial Bank & Trust raised its holdings in shares of Astrazeneca PLC by 1.3% during the 1st quarter. Parkside Financial Bank & Trust now owns 7,040 shares of the company’s stock valued at $219,000 after buying an additional 90 shares during the period. Institutional investors and hedge funds own 14.18% of the company’s stock.
Astrazeneca PLC Company Profile
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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