Astrazeneca PLC (AZN) Sees Large Volume Increase
Shares of Astrazeneca PLC (NYSE:AZN) saw unusually-strong trading volume on Tuesday . Approximately 8,834,226 shares traded hands during trading, an increase of 22% from the previous session’s volume of 7,245,326 shares.The stock last traded at $30.23 and had previously closed at $29.97.
A number of analysts have recently issued reports on AZN shares. Jefferies Group downgraded shares of Astrazeneca PLC from a “buy” rating to a “hold” rating and lifted their price objective for the stock from $28.29 to $29.35 in a report on Tuesday, March 15th. Goldman Sachs Group Inc. cut shares of Astrazeneca PLC from a “neutral” rating to a “sell” rating in a research report on Monday, April 11th. JPMorgan Chase & Co. reiterated a “neutral” rating on shares of Astrazeneca PLC in a research report on Thursday, March 24th. Bank of America Corp. reiterated a “buy” rating on shares of Astrazeneca PLC in a research report on Thursday, March 24th. Finally, Citigroup Inc. reiterated a “buy” rating on shares of Astrazeneca PLC in a research report on Friday, April 1st. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating, eleven have given a buy rating and two have given a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $628.54.
The stock has a market cap of $76.41 billion and a PE ratio of 26.26. The stock has a 50-day moving average of $29.19 and a 200 day moving average of $29.70.
Astrazeneca PLC (NYSE:AZN) last posted its quarterly earnings results on Friday, April 29th. The company reported $0.51 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.60 by $0.09. During the same quarter in the previous year, the company earned $1.08 earnings per share. The company had revenue of $6.12 billion for the quarter, compared to the consensus estimate of $5.96 billion. Astrazeneca PLC’s revenue for the quarter was up 1.0% compared to the same quarter last year. Analysts forecast that Astrazeneca PLC will post $2.45 EPS for the current year.
Other hedge funds and institutional investors recently bought and sold shares of the company. Tamarack Advisers LP bought a new position in Astrazeneca PLC during the fourth quarter valued at approximately $13,580,000. Morgan Stanley increased its position in Astrazeneca PLC by 16.3% in the fourth quarter. Morgan Stanley now owns 1,572,388 shares of the company’s stock valued at $53,382,000 after buying an additional 220,787 shares in the last quarter. Wells Fargo & Company MN increased its position in Astrazeneca PLC by 7.6% in the fourth quarter. Wells Fargo & Company MN now owns 2,009,893 shares of the company’s stock valued at $68,236,000 after buying an additional 141,767 shares in the last quarter. Sei Investments Co. increased its position in Astrazeneca PLC by 279.5% in the fourth quarter. Sei Investments Co. now owns 108,458 shares of the company’s stock valued at $3,683,000 after buying an additional 79,882 shares in the last quarter. Finally, First Trust Advisors LP increased its position in Astrazeneca PLC by 45.6% in the fourth quarter. First Trust Advisors LP now owns 228,507 shares of the company’s stock valued at $7,758,000 after buying an additional 71,598 shares in the last quarter.
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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