Astrazeneca PLC’s (AZN) “Hold” Rating Reiterated at Leerink Swann
Astrazeneca PLC (NYSE:AZN)‘s stock had its “hold” rating reiterated by analysts at Leerink Swann in a research report issued on Sunday. They presently have a $35.00 price objective on the stock. Leerink Swann’s price objective would indicate a potential upside of 8.39% from the stock’s current price.
Several other equities research analysts have also recently weighed in on the company. Shore Capital restated a “hold” rating on shares of Astrazeneca PLC in a research note on Wednesday, July 27th. Bank of America Corp. restated a “buy” rating and set a $36.65 target price on shares of Astrazeneca PLC in a research note on Monday, July 18th. Citigroup Inc. restated a “buy” rating on shares of Astrazeneca PLC in a research note on Friday, September 23rd. Berenberg Bank restated a “buy” rating on shares of Astrazeneca PLC in a research note on Sunday, September 11th. Finally, Beaufort Securities restated a “hold” rating on shares of Astrazeneca PLC in a research note on Friday, August 26th. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the stock. Astrazeneca PLC currently has an average rating of “Buy” and an average target price of $37.56.
Astrazeneca PLC (NYSE:AZN) opened at 32.29 on Friday. The stock has a 50 day moving average price of $33.23 and a 200 day moving average price of $30.79. The company has a market capitalization of $81.69 billion, a price-to-earnings ratio of 36.90 and a beta of 0.75. Astrazeneca PLC has a 52-week low of $26.97 and a 52-week high of $35.04.
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Astrazeneca PLC (NYSE:AZN) last issued its quarterly earnings results on Thursday, July 28th. The company reported $0.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.76 by $0.07. The business earned $5.60 billion during the quarter, compared to analysts’ expectations of $5.56 billion. Astrazeneca PLC had a return on equity of 28.02% and a net margin of 9.23%. The firm’s revenue for the quarter was down 4.0% compared to the same quarter last year. During the same period in the previous year, the company posted $1.21 earnings per share. Analysts anticipate that Astrazeneca PLC will post $2.97 EPS for the current fiscal year.
The firm also recently declared a dividend, which was paid on Monday, September 12th. Shareholders of record on Friday, August 12th were issued a dividend of $0.44 per share. The ex-dividend date of this dividend was Wednesday, August 10th. Astrazeneca PLC’s payout ratio is currently 78.29%.
Hedge funds have recently modified their holdings of the company. Catawba Capital Management VA increased its stake in shares of Astrazeneca PLC by 3.1% in the third quarter. Catawba Capital Management VA now owns 36,865 shares of the company’s stock worth $1,211,000 after buying an additional 1,125 shares during the last quarter. Oliver Luxxe Assets LLC increased its stake in shares of Astrazeneca PLC by 7.7% in the third quarter. Oliver Luxxe Assets LLC now owns 51,201 shares of the company’s stock worth $1,682,000 after buying an additional 3,647 shares during the last quarter. Independent Portfolio Consultants Inc. increased its stake in shares of Astrazeneca PLC by 0.6% in the third quarter. Independent Portfolio Consultants Inc. now owns 22,720 shares of the company’s stock worth $738,000 after buying an additional 145 shares during the last quarter. Fulton Bank N.A. acquired a new stake in shares of Astrazeneca PLC during the third quarter worth $884,000. Finally, Eqis Capital Management Inc. increased its stake in shares of Astrazeneca PLC by 35.8% in the third quarter. Eqis Capital Management Inc. now owns 27,516 shares of the company’s stock worth $904,000 after buying an additional 7,249 shares during the last quarter. Hedge funds and other institutional investors own 11.39% of the company’s stock.
Astrazeneca PLC Company Profile
AstraZeneca PLC (AstraZeneca) is a biopharmaceutical company. The Company focuses on the discovery, development and commercialization of prescription medicines, primarily for the treatment of diseases in various therapy areas, including respiratory, inflammation, autoimmune disease (RIA), cardiovascular and metabolic disease (CVMD) and oncology, as well as in infection, neuroscience and gastrointestinal areas.
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