AstraZeneca (NASDAQ:AZN) Cut to “Buy” at Wall Street Zen

by · The Cerbat Gem

Wall Street Zen cut shares of AstraZeneca (NASDAQ:AZN – Free Report) from a strong-buy rating to a buy rating in a research report report published on Saturday morning.

Several other research analysts have also weighed in on AZN. Morgan Stanley reissued an “overweight” rating and set a $103.00 price objective on shares of AstraZeneca in a research note on Wednesday, December 3rd. HSBC reissued a “buy” rating and set a $108.00 price target on shares of AstraZeneca in a research report on Wednesday, December 10th. Deutsche Bank Aktiengesellschaft reissued a “sell” rating on shares of AstraZeneca in a report on Friday. Guggenheim reaffirmed a “buy” rating on shares of AstraZeneca in a research note on Wednesday, December 3rd. Finally, Cowen reiterated a “buy” rating on shares of AstraZeneca in a report on Tuesday, December 9th. Nine investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, AstraZeneca currently has an average rating of “Moderate Buy” and a consensus target price of $95.75.

Check Out Our Latest Analysis on AstraZeneca

AstraZeneca Stock Performance

AZN stock opened at $94.39 on Friday. AstraZeneca has a twelve month low of $61.24 and a twelve month high of $96.51. The company has a quick ratio of 0.69, a current ratio of 0.88 and a debt-to-equity ratio of 0.54. The company has a market cap of $292.78 billion, a P/E ratio of 31.36, a price-to-earnings-growth ratio of 1.57 and a beta of 0.34. The business’s fifty day moving average is $91.66 and its 200-day moving average is $83.08.

AstraZeneca (NASDAQ:AZN – Get Free Report) last released its quarterly earnings data on Thursday, November 6th. The company reported $1.19 EPS for the quarter, beating analysts’ consensus estimates of $1.14 by $0.05. AstraZeneca had a return on equity of 32.89% and a net margin of 16.17%.The business had revenue of $15.19 billion during the quarter, compared to the consensus estimate of $14.75 billion. During the same quarter in the prior year, the company posted $2.08 earnings per share. The firm’s revenue was up 12.0% on a year-over-year basis. Equities research analysts forecast that AstraZeneca will post 4.51 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Perigon Wealth Management LLC raised its position in AstraZeneca by 9.4% in the 4th quarter. Perigon Wealth Management LLC now owns 23,059 shares of the company’s stock valued at $2,120,000 after buying an additional 1,980 shares during the last quarter. Balboa Wealth Partners bought a new position in shares of AstraZeneca during the 4th quarter worth approximately $220,000. Aberdeen Group plc raised its holdings in shares of AstraZeneca by 5.2% in the fourth quarter. Aberdeen Group plc now owns 841,574 shares of the company’s stock valued at $77,366,000 after purchasing an additional 41,357 shares during the last quarter. IVC Wealth Advisors LLC acquired a new stake in shares of AstraZeneca in the fourth quarter valued at approximately $215,000. Finally, Earned Wealth Advisors LLC lifted its position in shares of AstraZeneca by 14.3% in the fourth quarter. Earned Wealth Advisors LLC now owns 2,992 shares of the company’s stock worth $275,000 after purchasing an additional 374 shares in the last quarter. 20.35% of the stock is owned by institutional investors and hedge funds.

AstraZeneca Company Profile

(Get Free Report)

AstraZeneca is a global, science-led biopharmaceutical company headquartered in Cambridge, England. Formed through the 1999 merger of Sweden’s Astra AB and the UK’s Zeneca Group, the company researches, develops, manufactures and commercializes prescription medicines across a range of therapeutic areas. AstraZeneca’s operations span research and development, large-scale manufacturing, and commercial distribution, with a presence in developed and emerging markets worldwide.

The company focuses on several core therapy areas including oncology, cardiovascular, renal and metabolism (CVRM), respiratory and immunology, and rare diseases.

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