Analysts Set AstraZeneca PLC (NASDAQ:AZN) Price Target at $89.75

AstraZeneca PLC (NASDAQ:AZN) has earned an average recommendation of “Moderate Buy” from the eleven research firms that are covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, one has given a hold recommendation, seven have issued a buy recommendation and two have given a strong buy recommendation to the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $89.75.

Several equities research analysts have recently commented on AZN shares. Barclays raised AstraZeneca to a “strong-buy” rating in a report on Monday, June 24th. Erste Group Bank upgraded shares of AstraZeneca from a “hold” rating to a “buy” rating in a report on Wednesday, September 11th. TD Cowen lifted their target price on shares of AstraZeneca from $90.00 to $95.00 and gave the stock a “buy” rating in a research report on Monday, August 12th. Deutsche Bank Aktiengesellschaft downgraded shares of AstraZeneca from a “hold” rating to a “sell” rating in a research report on Friday, September 13th. Finally, Citigroup raised shares of AstraZeneca to a “strong-buy” rating in a research note on Monday, June 24th.

AstraZeneca Stock Down 0.4 %

NASDAQ AZN opened at $78.02 on Friday. AstraZeneca has a 12 month low of $60.47 and a 12 month high of $87.68. The company has a market capitalization of $241.90 billion, a P/E ratio of 38.25, a PEG ratio of 1.44 and a beta of 0.46. The company’s 50 day simple moving average is $81.19 and its 200 day simple moving average is $78.04. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.89 and a quick ratio of 0.69.

AstraZeneca (NASDAQ:AZN) last posted its quarterly earnings results on Thursday, July 25th. The company reported $0.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.98 by $0.01. The company had revenue of $12.45 billion for the quarter, compared to analysts’ expectations of $12.62 billion. AstraZeneca had a return on equity of 29.34% and a net margin of 13.11%. The firm’s revenue was up 9.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.08 earnings per share. Equities research analysts expect that AstraZeneca will post 4.07 earnings per share for the current fiscal year.

AstraZeneca Cuts Dividend

The business also recently disclosed a Semi-Annual dividend, which was paid on Monday, September 9th. Shareholders of record on Friday, August 9th were paid a $0.49 dividend. The ex-dividend date was Friday, August 9th. This represents a yield of 1.8%. AstraZeneca’s dividend payout ratio is presently 48.04%.

Institutional Trading of AstraZeneca

Institutional investors have recently bought and sold shares of the company. GHP Investment Advisors Inc. bought a new stake in AstraZeneca in the second quarter worth approximately $26,000. Able Wealth Management LLC acquired a new stake in shares of AstraZeneca in the 4th quarter valued at $27,000. Pathway Financial Advisers LLC acquired a new position in AstraZeneca during the first quarter worth $29,000. RFP Financial Group LLC raised its position in shares of AstraZeneca by 56.3% in the first quarter. RFP Financial Group LLC now owns 494 shares of the company’s stock valued at $33,000 after purchasing an additional 178 shares during the period. Finally, CANADA LIFE ASSURANCE Co lifted its position in shares of AstraZeneca by 40.6% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 506 shares of the company’s stock worth $34,000 after acquiring an additional 146 shares during the period. Institutional investors and hedge funds own 20.35% of the company’s stock.

AstraZeneca Company Profile

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.