Astrazeneca (NYSE:AZN) Stock Rating Raised to Hold at Zacks Research

by · The Markets Daily

Zacks Research upgraded shares of Astrazeneca (NYSE:AZN – Free Report) from a strong sell rating to a hold rating in a report published on Tuesday,Zacks reports.

A number of other brokerages also recently commented on AZN. Bank of America restated a “buy” rating on shares of Astrazeneca in a research note on Wednesday, July 1st. Deutsche Bank Aktiengesellschaft upgraded Astrazeneca from a “sell” rating to a “hold” rating in a research note on Tuesday, September 15th. Wall Street Zen downgraded shares of Astrazeneca from a “buy” rating to a “hold” rating in a report on Sunday. Nordea Equity Research raised shares of Astrazeneca from a “sell” rating to a “buy” rating in a report on Tuesday. Finally, The Goldman Sachs Group restated a “buy” rating on shares of Astrazeneca in a research report on Wednesday, July 1st. Fifteen equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, Astrazeneca presently has a consensus rating of “Moderate Buy” and a consensus target price of $206.67.

Get Our Latest Stock Analysis on Astrazeneca

Astrazeneca Trading Up 4.1%

NYSE:AZN opened at $162.21 on Tuesday. The company has a quick ratio of 0.67, a current ratio of 0.89 and a debt-to-equity ratio of 0.47. The business’s 50 day moving average is $161.96 and its two-hundred day moving average is $176.37. Astrazeneca has a 52 week low of $153.41 and a 52 week high of $212.71. The company has a market cap of $251.57 billion, a PE ratio of 24.25, a P/E/G ratio of 1.32 and a beta of 0.27.

Astrazeneca (NYSE:AZN – Get Free Report) last announced its quarterly earnings data on Monday, July 27th. The company reported $2.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.50 by $0.13. The firm had revenue of $15.38 billion for the quarter, compared to analysts’ expectations of $15.44 billion. Astrazeneca had a return on equity of 31.45% and a net margin of 17.02%. The firm’s revenue for the quarter was up 6.4% on a year-over-year basis. During the same period last year, the business posted $2.17 earnings per share. On average, analysts predict that Astrazeneca will post 9.38 EPS for the current year.

Hedge Funds Weigh In On Astrazeneca

Hedge funds and other institutional investors have recently modified their holdings of the stock. ZWJ Investment Counsel Inc. raised its position in shares of Astrazeneca by 6.8% during the third quarter. ZWJ Investment Counsel Inc. now owns 422,910 shares of the company’s stock worth $68,287,000 after purchasing an additional 26,932 shares during the period. Mather Group LLC. grew its position in shares of Astrazeneca by 14.0% in the 3rd quarter. Mather Group LLC. now owns 1,697 shares of the company’s stock valued at $274,000 after purchasing an additional 208 shares during the period. Columbus Macro LLC grew its position in shares of Astrazeneca by 2.1% in the 3rd quarter. Columbus Macro LLC now owns 16,262 shares of the company’s stock valued at $2,648,000 after purchasing an additional 339 shares during the period. Orca Wealth Management LLC grew its position in shares of Astrazeneca by 7.8% in the 3rd quarter. Orca Wealth Management LLC now owns 37,436 shares of the company’s stock valued at $6,045,000 after purchasing an additional 2,720 shares during the period. Finally, Triumph Capital Management increased its stake in Astrazeneca by 32.6% during the 3rd quarter. Triumph Capital Management now owns 252 shares of the company’s stock worth $41,000 after purchasing an additional 62 shares in the last quarter. Institutional investors and hedge funds own 20.35% of the company’s stock.

Astrazeneca Company Profile

(Get Free Report)

AstraZeneca PLC is a global biopharmaceutical company headquartered in Cambridge, United Kingdom. Its research, development and commercial operations focus on prescription medicines for serious and chronic diseases, with an emphasis on discovering and delivering innovative therapies rather than operating as a diversified healthcare conglomerate.

The company’s principal therapeutic areas include oncology; cardiovascular, renal and metabolic diseases; respiratory and immunological conditions; and rare diseases.

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