AstraZeneca (NASDAQ:AZN) Lifted to Buy at Erste Group Bank

Erste Group Bank upgraded shares of AstraZeneca (NASDAQ:AZN) from a hold rating to a buy rating in a research report sent to investors on Wednesday, Benzinga reports.

Several other analysts have also weighed in on the company. Citigroup raised AstraZeneca to a strong-buy rating in a report on Monday, June 24th. Barclays raised shares of AstraZeneca to a strong-buy rating in a research note on Monday, June 24th. Argus raised their target price on shares of AstraZeneca from $80.00 to $85.00 and gave the company a buy rating in a research note on Thursday, May 30th. TD Cowen raised their target price on shares of AstraZeneca from $90.00 to $95.00 and gave the company a buy rating in a research note on Monday, August 12th. Finally, The Goldman Sachs Group started coverage on shares of AstraZeneca in a research report on Thursday, May 30th. They set a buy rating and a $97.00 price objective for the company. One analyst has rated the stock with a sell rating, one has given a hold rating, seven have given a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat.com, AstraZeneca has an average rating of Buy and a consensus target price of $89.75.

AstraZeneca Stock Down 0.9 %

AZN stock opened at $78.27 on Wednesday. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.89 and a quick ratio of 0.69. AstraZeneca has a 1-year low of $60.47 and a 1-year high of $87.68. The firm has a fifty day moving average price of $81.71 and a two-hundred day moving average price of $76.17. The firm has a market cap of $242.68 billion, a price-to-earnings ratio of 38.37, a PEG ratio of 1.49 and a beta of 0.47.

AstraZeneca (NASDAQ:AZN) last released its quarterly earnings results on Thursday, July 25th. The company reported $0.99 EPS for the quarter, topping the consensus estimate of $0.98 by $0.01. The business had revenue of $12.45 billion during the quarter, compared to analyst estimates of $12.62 billion. AstraZeneca had a net margin of 13.11% and a return on equity of 29.34%. The company’s quarterly revenue was up 9.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.08 earnings per share. Research analysts predict that AstraZeneca will post 4.05 EPS for the current year.

AstraZeneca Cuts Dividend

The business also recently declared a Semi-Annual dividend, which was paid on Monday, September 9th. Shareholders of record on Friday, August 9th were given a $0.49 dividend. This represents a yield of 1.8%. The ex-dividend date of this dividend was Friday, August 9th. AstraZeneca’s dividend payout ratio (DPR) is 48.04%.

Institutional Investors Weigh In On AstraZeneca

A number of institutional investors and hedge funds have recently made changes to their positions in AZN. Price T Rowe Associates Inc. MD grew its stake in shares of AstraZeneca by 17.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 61,271,974 shares of the company’s stock worth $4,151,177,000 after purchasing an additional 9,002,450 shares during the last quarter. Sanders Capital LLC increased its stake in AstraZeneca by 39.0% in the 4th quarter. Sanders Capital LLC now owns 14,684,066 shares of the company’s stock worth $988,972,000 after buying an additional 4,122,965 shares in the last quarter. Swedbank AB purchased a new position in shares of AstraZeneca in the 1st quarter worth approximately $186,127,000. Manning & Napier Advisors LLC acquired a new position in shares of AstraZeneca in the second quarter worth about $188,476,000. Finally, Norges Bank acquired a new stake in AstraZeneca during the 4th quarter worth approximately $143,999,000. Hedge funds and other institutional investors own 20.35% of the company’s stock.

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.