Astrazeneca (NYSE:AZN) Stock Rating Raised to Buy at Wall Street Zen

Wall Street Zen upgraded shares of Astrazeneca (NYSE:AZN) from a hold rating to a buy rating in a research report report published on Saturday,Wall Street Zen reports.

Several other equities research analysts have also recently weighed in on AZN. The Goldman Sachs Group reissued a “buy” rating on shares of Astrazeneca in a research note on Wednesday, July 1st. JPMorgan Chase & Co. reiterated a “buy” rating on shares of Astrazeneca in a report on Tuesday, June 30th. HSBC downgraded Astrazeneca from a “buy” rating to a “hold” rating in a research report on Monday, July 13th. Zacks Research downgraded Astrazeneca from a “hold” rating to a “strong sell” rating in a research report on Monday, September 14th. Finally, Weiss Ratings lowered shares of Astrazeneca from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Tuesday, July 28th. Fourteen analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $206.67.

Astrazeneca Price Performance

Astrazeneca stock opened at $156.91 on Friday. Astrazeneca has a 52-week low of $153.41 and a 52-week high of $212.71. 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 firm’s fifty day moving average is $163.22 and its 200 day moving average is $178.01. The company has a market cap of $243.35 billion, a price-to-earnings ratio of 23.45, a PEG ratio of 1.32 and a beta of 0.27.

Astrazeneca (NYSE:AZN) last issued its quarterly earnings data on Monday, July 27th. The company reported $2.63 EPS for the quarter, topping analysts’ consensus estimates of $2.50 by $0.13. The business had revenue of $15.38 billion during the quarter, compared to analysts’ expectations of $15.44 billion. Astrazeneca had a net margin of 17.02% and a return on equity of 31.45%. The business’s revenue was up 6.4% on a year-over-year basis. During the same period last year, the company posted $2.17 EPS. Sell-side analysts forecast that Astrazeneca will post 9.37 EPS for the current fiscal year.

Institutional Investors Weigh In On Astrazeneca

Hedge funds and other institutional investors have recently modified their holdings of the business. Franklin Resources Inc. grew its position in Astrazeneca by 2.3% in the 4th quarter. Franklin Resources Inc. now owns 20,157,744 shares of the company’s stock valued at $3,537,684,000 after acquiring an additional 445,014 shares during the last quarter. Amundi boosted its stake in shares of Astrazeneca by 6.7% during the second quarter. Amundi now owns 16,422,784 shares of the company’s stock valued at $3,114,088,000 after purchasing an additional 1,036,635 shares during the period. Janus Henderson Group PLC grew its holdings in shares of Astrazeneca by 889.9% in the first quarter. Janus Henderson Group PLC now owns 11,949,424 shares of the company’s stock worth $2,319,947,000 after purchasing an additional 10,742,268 shares during the last quarter. Royal Bank of Canada grew its holdings in shares of Astrazeneca by 208.6% in the first quarter. Royal Bank of Canada now owns 10,386,455 shares of the company’s stock worth $2,048,417,000 after purchasing an additional 7,021,126 shares during the last quarter. Finally, Rathbones Group PLC increased its stake in Astrazeneca by 106,772.0% in the 1st quarter. Rathbones Group PLC now owns 8,054,943 shares of the company’s stock worth $1,560,419,000 after buying an additional 8,047,406 shares during the period. 20.35% of the stock is currently owned by hedge funds and other institutional investors.

Astrazeneca Company Profile

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.