AstraZeneca PLC (NASDAQ:AZN) Receives Average Rating of “Moderate Buy” from Brokerages

AstraZeneca PLC (NASDAQ:AZN) has been given a consensus recommendation of “Moderate Buy” by the eleven brokerages that are presently covering the stock, Marketbeat Ratings reports. Three investment analysts have rated the stock with a hold recommendation, six have issued a buy recommendation and two have given a strong buy recommendation to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $88.00.

Several analysts have issued reports on AZN shares. The Goldman Sachs Group started coverage on AstraZeneca in a research note on Thursday, May 30th. They issued a “buy” rating and a $97.00 target price for the company. Argus increased their price objective on AstraZeneca from $80.00 to $85.00 and gave the company a “buy” rating in a research note on Thursday, May 30th. Citigroup raised AstraZeneca to a “strong-buy” rating in a research note on Monday, June 24th. Deutsche Bank Aktiengesellschaft raised AstraZeneca from a “sell” rating to a “hold” rating in a research note on Tuesday, April 16th. Finally, BMO Capital Markets increased their price objective on AstraZeneca from $80.00 to $82.00 and gave the company an “outperform” rating in a research note on Friday, April 26th.

AstraZeneca Stock Down 0.6 %

Shares of NASDAQ AZN opened at $76.67 on Friday. AstraZeneca has a 12 month low of $60.47 and a 12 month high of $80.86. The company has a current ratio of 0.89, a quick ratio of 0.70 and a debt-to-equity ratio of 0.73. The firm has a market capitalization of $237.72 billion, a price-to-earnings ratio of 37.58, a PEG ratio of 1.39 and a beta of 0.45. The business has a 50-day moving average of $78.04 and a 200-day moving average of $70.98.

AstraZeneca (NASDAQ:AZN) last issued its earnings results 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 business had revenue of $12.68 billion during the quarter, compared to analyst estimates of $11.92 billion. AstraZeneca had a return on equity of 30.42% and a net margin of 13.30%. Sell-side analysts expect that AstraZeneca will post 4.04 earnings per share for the current fiscal year.

Hedge Funds Weigh In On AstraZeneca

A number of hedge funds and other institutional investors have recently made changes to their positions in AZN. Lindbrook Capital LLC raised its holdings in AstraZeneca by 1.7% in the first quarter. Lindbrook Capital LLC now owns 8,005 shares of the company’s stock worth $542,000 after purchasing an additional 137 shares in the last quarter. CANADA LIFE ASSURANCE Co raised its holdings in AstraZeneca by 40.6% in the first quarter. CANADA LIFE ASSURANCE Co now owns 506 shares of the company’s stock worth $34,000 after purchasing an additional 146 shares in the last quarter. Gallacher Capital Management LLC raised its holdings in AstraZeneca by 2.8% in the first quarter. Gallacher Capital Management LLC now owns 5,431 shares of the company’s stock worth $368,000 after purchasing an additional 150 shares in the last quarter. Beaird Harris Wealth Management LLC raised its holdings in AstraZeneca by 8.9% in the fourth quarter. Beaird Harris Wealth Management LLC now owns 1,851 shares of the company’s stock worth $125,000 after purchasing an additional 151 shares in the last quarter. Finally, Sage Mountain Advisors LLC raised its holdings in AstraZeneca by 2.7% in the first quarter. Sage Mountain Advisors LLC now owns 6,017 shares of the company’s stock worth $408,000 after purchasing an additional 158 shares in the last quarter. Institutional investors own 20.35% of the company’s stock.

About AstraZeneca

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.