AstraZeneca (NASDAQ:AZN) Announces Quarterly Earnings Results, Beats Expectations By $0.05 EPS

by · The Markets Daily

AstraZeneca (NASDAQ:AZN – Get Free Report) released its quarterly earnings data on Thursday. The company reported $1.19 EPS for the quarter, topping the consensus estimate of $1.14 by $0.05, Zacks reports. The company had revenue of $15.19 billion during the quarter, compared to the consensus estimate of $14.75 billion. AstraZeneca had a return on equity of 32.84% and a net margin of 14.68%.AstraZeneca’s revenue for the quarter was up 12.0% on a year-over-year basis. During the same period last year, the company earned $2.08 EPS.

AstraZeneca Trading Up 3.2%

Shares of NASDAQ:AZN traded up $2.62 during trading on Thursday, reaching $83.77. The company’s stock had a trading volume of 6,940,351 shares, compared to its average volume of 5,147,301. AstraZeneca has a 12 month low of $61.24 and a 12 month high of $86.57. The company has a current ratio of 0.86, a quick ratio of 0.67 and a debt-to-equity ratio of 0.55. The firm’s 50 day simple moving average is $81.31 and its two-hundred day simple moving average is $75.38. The stock has a market capitalization of $259.80 billion, a PE ratio of 31.49, a price-to-earnings-growth ratio of 1.52 and a beta of 0.34.

Wall Street Analyst Weigh In

Several brokerages have issued reports on AZN. Jefferies Financial Group assumed coverage on AstraZeneca in a research report on Monday, October 27th. They issued a “buy” rating on the stock. Berenberg Bank set a $97.00 target price on shares of AstraZeneca in a research note on Wednesday, July 9th. Weiss Ratings reissued a “buy (b)” rating on shares of AstraZeneca in a report on Wednesday, October 8th. Finally, Deutsche Bank Aktiengesellschaft cut AstraZeneca from a “hold” rating to a “sell” rating in a research report on Thursday, October 16th. Five analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $86.00.

Check Out Our Latest Report on AZN

Hedge Funds Weigh In On AstraZeneca

Large investors have recently modified their holdings of the stock. Transamerica Financial Advisors LLC boosted its stake in AstraZeneca by 86.1% during the second quarter. Transamerica Financial Advisors LLC now owns 1,647 shares of the company’s stock worth $115,000 after buying an additional 762 shares during the period. Rakuten Securities Inc. raised its position in AstraZeneca by 30.2% in the 2nd quarter. Rakuten Securities Inc. now owns 1,969 shares of the company’s stock worth $138,000 after purchasing an additional 457 shares during the period. Great Valley Advisor Group Inc. raised its position in AstraZeneca by 24.0% in the 2nd quarter. Great Valley Advisor Group Inc. now owns 4,949 shares of the company’s stock worth $346,000 after purchasing an additional 957 shares during the period. Glenview Trust co grew its stake in shares of AstraZeneca by 17.6% during the second quarter. Glenview Trust co now owns 5,107 shares of the company’s stock valued at $357,000 after buying an additional 765 shares during the last quarter. Finally, Brighton Jones LLC grew its stake in shares of AstraZeneca by 93.2% during the fourth quarter. Brighton Jones LLC now owns 5,782 shares of the company’s stock valued at $379,000 after buying an additional 2,789 shares during the last quarter. Institutional investors own 20.35% of the company’s stock.

About AstraZeneca

(Get Free Report)

AstraZeneca PLC, a biopharmaceutical company, focuses on the discovery, development, manufacture, and commercialization of prescription medicines. The company’s marketed products include Tagrisso, Imfinzi, Lynparza, Calquence, Enhertu, Orpathys, Truqap, Zoladex, Faslodex, Farxiga, Brilinta, Lokelma, Roxadustat, Andexxa, Crestor, Seloken, Onglyza, Bydureon, Fasenra, Breztri, Symbicort, Saphnelo, Tezspire, Pulmicort, Bevespi, and Daliresp for cardiovascular, renal, metabolism, and oncology.

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