AstraZeneca (NASDAQ:AZN) Trading Down 2.4%

AstraZeneca PLC (NASDAQ:AZNGet Free Report)’s stock price dropped 2.4% on Monday . The company traded as low as $60.47 and last traded at $60.75. Approximately 3,114,316 shares traded hands during trading, a decline of 54% from the average daily volume of 6,837,030 shares. The stock had previously closed at $62.26.

Analyst Ratings Changes

AZN has been the topic of several recent analyst reports. HSBC initiated coverage on shares of AstraZeneca in a report on Monday, December 18th. They issued a “buy” rating on the stock. Jefferies Financial Group cut shares of AstraZeneca from a “buy” rating to a “hold” rating in a report on Wednesday, January 3rd. Morgan Stanley initiated coverage on shares of AstraZeneca in a report on Tuesday, January 23rd. They issued an “overweight” rating on the stock. Finally, Deutsche Bank Aktiengesellschaft cut shares of AstraZeneca from a “hold” rating to a “sell” rating in a report on Thursday. One investment analyst has rated the stock with a sell rating, two have given a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, AstraZeneca has an average rating of “Moderate Buy” and a consensus price target of $80.00.

Read Our Latest Analysis on AstraZeneca

AstraZeneca Trading Down 1.3 %

The firm has a market cap of $190.42 billion, a P/E ratio of 31.71, a PEG ratio of 1.13 and a beta of 0.52. The firm’s fifty day moving average is $66.50 and its two-hundred day moving average is $66.69. The company has a quick ratio of 0.64, a current ratio of 0.82 and a debt-to-equity ratio of 0.57.

AstraZeneca (NASDAQ:AZNGet Free Report) last released its quarterly earnings results on Thursday, February 8th. The company reported $0.73 earnings per share for the quarter, missing the consensus estimate of $0.74 by ($0.01). The company had revenue of $12.02 billion during the quarter, compared to the consensus estimate of $12.07 billion. AstraZeneca had a net margin of 13.00% and a return on equity of 30.19%. The business’s revenue was up 7.3% on a year-over-year basis. During the same quarter last year, the firm earned $0.69 EPS. Analysts predict that AstraZeneca PLC will post 4.09 earnings per share for the current fiscal year.

AstraZeneca Increases Dividend

The business also recently declared a Semi-Annual dividend, which will be paid on Monday, March 25th. Stockholders of record on Friday, February 23rd will be given a $0.965 dividend. The ex-dividend date is Thursday, February 22nd. This is a positive change from AstraZeneca’s previous Semi-Annual dividend of $0.47. AstraZeneca’s payout ratio is currently 47.40%.

Hedge Funds Weigh In On AstraZeneca

Large investors have recently modified their holdings of the stock. Pine Valley Investments Ltd Liability Co raised its position in AstraZeneca by 10.3% in the 4th quarter. Pine Valley Investments Ltd Liability Co now owns 6,372 shares of the company’s stock worth $429,000 after buying an additional 593 shares during the last quarter. 3Chopt Investment Partners LLC purchased a new position in AstraZeneca in the 4th quarter worth about $295,000. Edmond DE Rothschild Holding S.A. raised its position in AstraZeneca by 17.2% in the 4th quarter. Edmond DE Rothschild Holding S.A. now owns 52,457 shares of the company’s stock worth $3,533,000 after buying an additional 7,690 shares during the last quarter. Hsbc Holdings PLC raised its position in AstraZeneca by 13.7% in the 4th quarter. Hsbc Holdings PLC now owns 782,860 shares of the company’s stock worth $52,648,000 after buying an additional 94,334 shares during the last quarter. Finally, Nomura Asset Management Co. Ltd. raised its position in AstraZeneca by 3.1% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 61,530 shares of the company’s stock worth $4,144,000 after buying an additional 1,876 shares during the last quarter. Hedge funds and other institutional investors own 15.68% of the company’s stock.

About AstraZeneca

(Get Free Report)

AstraZeneca PLC, a biopharmaceutical company, focuses on the discovery, development, manufacture, andcommercialization of prescription medicines. The company's marketed products include Calquence, Enhertu, Faslodex, Imfinzi, Iressa, Koselugo, Lumoxiti, Lynparza, Orpathys, Tagrisso, and Zoladex for oncology; Andexxa/Ondexxya, Atacand, Atacand HCT, Atacand Plus, Brilinta/Brilique, Bydureon/Byetta, BCise, Byetta, Crestor, Evrenzo, Farxiga/Forxiga, Komboglyze/Kombiglyze XR, Lokelma, Onglyza, Qtern, Xigduo/Xigduo, and Zestril XR for cardiovascular, renal, and metabolism diseases; Accolate, Accoleit, Vanticon, Bevespi Aerosphere, Breztri Aerosphere, Bricanyl Respules and Turbuhaler, Daliresp/Daxas, Duaklir Genuair, Fasenra, Pulmicort, Rhinocort, Saphnelo, Symbicort, and Tezspire for respiratory and immunology; and Kanuma, Soliris, Strensiq, and Ultomiris for rare diseases.

Further Reading

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