Shares of AstraZeneca plc (NYSE:AZN) reached a new 52-week high during trading on Thursday following a stronger than expected earnings report. The stock traded as high as $41.28 and last traded at $40.74, with a volume of 443442 shares trading hands. The stock had previously closed at $39.21.

The company reported $0.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.33 by $0.38. AstraZeneca had a net margin of 11.98% and a return on equity of 29.89%. The business had revenue of $5.34 billion during the quarter, compared to analyst estimates of $5.26 billion. During the same period last year, the firm posted $1.12 EPS. The company’s revenue was down 14.3% on a year-over-year basis.

A number of equities research analysts have issued reports on the stock. ValuEngine raised shares of AstraZeneca from a “hold” rating to a “buy” rating in a report on Thursday, September 27th. Wolfe Research assumed coverage on shares of AstraZeneca in a report on Tuesday, October 23rd. They set an “outperform” rating for the company. Jefferies Financial Group lowered shares of AstraZeneca from a “buy” rating to a “hold” rating in a report on Thursday, August 16th. Zacks Investment Research raised shares of AstraZeneca from a “hold” rating to a “buy” rating and set a $44.00 price objective for the company in a report on Tuesday, October 9th. Finally, Guggenheim assumed coverage on shares of AstraZeneca in a report on Monday, October 8th. They set a “buy” rating for the company. Four investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $40.34.

In other news, major shareholder Plc Astrazeneca bought 246,666 shares of the stock in a transaction dated Friday, September 28th. The stock was purchased at an average cost of $15.00 per share, for a total transaction of $3,699,990.00. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Oppenheimer & Co. Inc. boosted its position in shares of AstraZeneca by 3.6% during the 2nd quarter. Oppenheimer & Co. Inc. now owns 37,631 shares of the company’s stock valued at $1,322,000 after acquiring an additional 1,293 shares during the last quarter. Signaturefd LLC boosted its position in shares of AstraZeneca by 11.5% during the 2nd quarter. Signaturefd LLC now owns 13,000 shares of the company’s stock valued at $456,000 after acquiring an additional 1,343 shares during the last quarter. Steward Partners Investment Advisory LLC boosted its position in shares of AstraZeneca by 8.6% during the 2nd quarter. Steward Partners Investment Advisory LLC now owns 17,611 shares of the company’s stock valued at $618,000 after acquiring an additional 1,396 shares during the last quarter. Greenleaf Trust boosted its position in shares of AstraZeneca by 5.9% during the 3rd quarter. Greenleaf Trust now owns 26,606 shares of the company’s stock valued at $1,053,000 after acquiring an additional 1,486 shares during the last quarter. Finally, Green Square Capital LLC boosted its position in shares of AstraZeneca by 12.3% during the 2nd quarter. Green Square Capital LLC now owns 14,233 shares of the company’s stock valued at $500,000 after acquiring an additional 1,558 shares during the last quarter. Hedge funds and other institutional investors own 16.10% of the company’s stock.

The company has a quick ratio of 0.54, a current ratio of 0.72 and a debt-to-equity ratio of 1.08. The stock has a market cap of $99.31 billion, a P/E ratio of 9.57, a P/E/G ratio of 2.09 and a beta of 0.57.

WARNING: “AstraZeneca (AZN) Sets New 1-Year High After Earnings Beat” was originally posted by Daily Political and is the property of of Daily Political. If you are reading this piece of content on another website, it was illegally copied and republished in violation of United States and international trademark & copyright law. The original version of this piece of content can be read at https://www.dailypolitical.com/2018/11/10/astrazeneca-azn-sets-new-1-year-high-after-earnings-beat.html.

About AstraZeneca (NYSE:AZN)

AstraZeneca PLC discovers, develops, and commercializes prescription medicines for the treatment of oncology, cardiovascular and metabolic, respiratory, gastrointestinal, neuroscience, and infection diseases worldwide. Its marketed products include Arimidex, Casodex/Cosudex, Calquence, Faslodex, Imfinzi, Iressa, Lynparza, Nolvadex, Tagrisso, and Zoladex for oncology diseases; Atacand1/Atacand HCT/Atacand Plus, Brilinta/Brilique, Crestor2, Plendil, Seloken/Toprol-XL4, Tenormin5, and Zestril6 for cardiovascular diseases; and Bydureon, Byetta, Farxiga/Forxiga, Kombiglyze XR, Komboglyze, Onglyza, Qtern, Symlin, Xigduo, and Xigduo XR for metabolic diseases.

Featured Article: Dow Jones Industrial Average (DJIA)

Receive News & Ratings for AstraZeneca Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AstraZeneca and related companies with MarketBeat.com's FREE daily email newsletter.