AstraZeneca plc (NYSE:AZN) shares hit a new 52-week high during mid-day trading on Thursday following a better than expected earnings announcement. The company traded as high as $41.28 and last traded at $40.74, with a volume of 443442 shares trading hands. The stock had previously closed at $39.21.

The company reported $0.71 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.33 by $0.38. The company had revenue of $5.34 billion during the quarter, compared to the consensus estimate of $5.26 billion. AstraZeneca had a net margin of 11.98% and a return on equity of 29.89%. The company’s revenue was down 14.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.12 EPS.

Several equities research analysts have recently weighed in on the stock. ValuEngine raised shares of AstraZeneca from a “hold” rating to a “buy” rating in a research report on Saturday, July 28th. Zacks Investment Research raised shares of AstraZeneca from a “sell” rating to a “hold” rating in a research report on Monday, July 16th. Guggenheim started coverage on shares of AstraZeneca in a research report on Monday, October 8th. They set a “buy” rating for the company. Wolfe Research started coverage on shares of AstraZeneca in a research report on Tuesday, October 23rd. They set an “outperform” rating for the company. Finally, Jefferies Financial Group downgraded shares of AstraZeneca from a “buy” rating to a “hold” rating in a research report on Thursday, August 16th. Four research analysts have rated the stock with a hold rating and six have given a buy rating to the company. AstraZeneca presently has a consensus rating of “Buy” and an average price target of $40.34.

In other AstraZeneca news, major shareholder Plc Astrazeneca acquired 246,666 shares of the stock in a transaction that occurred on Friday, September 28th. The stock was acquired at an average price of $15.00 per share, with a total value of $3,699,990.00. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Factorial Partners LLC bought a new position in AstraZeneca in the 3rd quarter worth about $119,000. NEXT Financial Group Inc bought a new position in AstraZeneca in the 3rd quarter worth about $169,000. Bessemer Group Inc. grew its position in AstraZeneca by 64.3% in the 2nd quarter. Bessemer Group Inc. now owns 4,651 shares of the company’s stock worth $163,000 after purchasing an additional 1,820 shares during the last quarter. FNY Investment Advisers LLC bought a new position in AstraZeneca in the 2nd quarter worth about $175,000. Finally, Tiverton Asset Management LLC bought a new position in AstraZeneca in the 2nd quarter worth about $178,000. Hedge funds and other institutional investors own 16.10% of the company’s stock.

The company has a current ratio of 0.72, a quick ratio of 0.54 and a debt-to-equity ratio of 1.08. The stock has a market capitalization of $99.31 billion, a P/E ratio of 9.57, a PEG ratio of 2.09 and a beta of 0.57.

WARNING: “AstraZeneca (AZN) Hits New 12-Month High on Strong Earnings” was posted by The Cerbat Gem and is the property of of The Cerbat Gem. If you are reading this report on another domain, it was copied illegally and reposted in violation of United States & international copyright and trademark legislation. The original version of this report can be viewed at https://www.thecerbatgem.com/2018/11/10/astrazeneca-azn-hits-new-12-month-high-on-strong-earnings.html.

AstraZeneca Company Profile (NYSE:AZN)

AstraZeneca PLC discovers, develops, and commercializes prescription medicines for the treatment of oncology, cardiovascular and metabolic, respiratory, gastrointestinal, neuroscience, and infection diseases worldwide. Its marketed products include Arimidex, Casodex/Cosudex, Calquence, Faslodex, Imfinzi, Iressa, Lynparza, Nolvadex, Tagrisso, and Zoladex for oncology diseases; Atacand1/Atacand HCT/Atacand Plus, Brilinta/Brilique, Crestor2, Plendil, Seloken/Toprol-XL4, Tenormin5, and Zestril6 for cardiovascular diseases; and Bydureon, Byetta, Farxiga/Forxiga, Kombiglyze XR, Komboglyze, Onglyza, Qtern, Symlin, Xigduo, and Xigduo XR for metabolic diseases.

See Also: Beta

Receive News & Ratings for AstraZeneca Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AstraZeneca and related companies with MarketBeat.com's FREE daily email newsletter.