AstraZeneca PLC (NASDAQ:AZN) Short Interest Down 13.0% in May

AstraZeneca PLC (NASDAQ:AZN) was the recipient of a significant decline in short interest in the month of May. As of May 31st, there was short interest totalling 6,670,000 shares, a decline of 13.0% from the May 15th total of 7,670,000 shares. Based on an average daily volume of 5,120,000 shares, the days-to-cover ratio is presently 1.3 days.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in AZN. Anchor Investment Management LLC purchased a new position in shares of AstraZeneca in the fourth quarter valued at $26,000. Compagnie Lombard Odier SCmA purchased a new position in shares of AstraZeneca in the fourth quarter valued at $27,000. Able Wealth Management LLC purchased a new position in shares of AstraZeneca in the fourth quarter valued at $27,000. Pathway Financial Advisers LLC acquired a new stake in AstraZeneca in the first quarter valued at $29,000. Finally, Pin Oak Investment Advisors Inc. raised its holdings in AstraZeneca by 468.4% in the fourth quarter. Pin Oak Investment Advisors Inc. now owns 449 shares of the company’s stock valued at $30,000 after acquiring an additional 370 shares in the last quarter. 20.35% of the stock is currently owned by hedge funds and other institutional investors.

AstraZeneca Trading Up 0.1 %

AZN traded up $0.06 during trading on Friday, hitting $79.59. 2,055,322 shares of the company’s stock were exchanged, compared to its average volume of 3,761,780. The company has a current ratio of 0.89, a quick ratio of 0.70 and a debt-to-equity ratio of 0.73. AstraZeneca has a 1 year low of $60.47 and a 1 year high of $80.86. The stock has a 50 day moving average price of $75.46 and a 200 day moving average price of $69.36. The firm has a market cap of $246.77 billion, a P/E ratio of 39.01, a price-to-earnings-growth ratio of 1.43 and a beta of 0.48.

AstraZeneca (NASDAQ:AZN) last released its quarterly earnings data on Thursday, April 25th. The company reported $1.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.95 by $0.08. The company had revenue of $12.68 billion during the quarter, compared to the consensus estimate of $11.92 billion. AstraZeneca had a net margin of 13.30% and a return on equity of 30.42%. As a group, analysts expect that AstraZeneca will post 4.04 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the stock. Deutsche Bank Aktiengesellschaft upgraded shares of AstraZeneca from a “sell” rating to a “hold” rating in a report on Tuesday, April 16th. The Goldman Sachs Group assumed coverage on shares of AstraZeneca in a report on Thursday, May 30th. They issued a “buy” rating and a $97.00 target price for the company. BMO Capital Markets boosted their target price on shares of AstraZeneca from $80.00 to $82.00 and gave the company an “outperform” rating in a report on Friday, April 26th. Finally, Argus boosted their target price on shares of AstraZeneca from $80.00 to $85.00 and gave the company a “buy” rating in a report on Thursday, May 30th. Three research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $88.00.

AstraZeneca Company Profile

AstraZeneca PLC, a biopharmaceutical company, focuses on the discovery, development, manufacture, and commercialization of prescription medicines. The company's marketed products include Tagrisso, Imfinzi, Lynparza, Calquence, Enhertu, Orpathys, Truqap, Zoladex, Faslodex, Farxiga, Brilinta, Lokelma, Roxadustat, Andexxa, Crestor, Seloken, Onglyza, Bydureon, Fasenra, Breztri, Symbicort, Saphnelo, Tezspire, Pulmicort, Bevespi, and Daliresp for cardiovascular, renal, metabolism, and oncology.