AstraZeneca (AZN) Hits New 12-Month High on Strong Earnings
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.
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.
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.
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