AstraZeneca PLC (NASDAQ:AZN) Sees Significant Increase in Short Interest

AstraZeneca PLC (NASDAQ:AZN) was the target of a significant growth in short interest during the month of August. As of August 15th, there was short interest totalling 8,510,000 shares, a growth of 49.0% from the July 31st total of 5,710,000 shares. Based on an average trading volume of 4,100,000 shares, the short-interest ratio is presently 2.1 days.

AstraZeneca Stock Up 0.2 %

NASDAQ AZN traded up $0.18 on Friday, hitting $87.48. The stock had a trading volume of 1,849,016 shares, compared to its average volume of 5,246,025. The business’s fifty day moving average price is $80.64 and its 200 day moving average price is $74.63. The stock has a market cap of $271.24 billion, a price-to-earnings ratio of 42.74, a price-to-earnings-growth ratio of 1.63 and a beta of 0.45. 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 has a 52-week low of $60.47 and a 52-week high of $87.62.

AstraZeneca (NASDAQ:AZN) last issued its quarterly earnings results on Thursday, July 25th. The company reported $0.99 earnings per share for the quarter, topping the consensus estimate of $0.98 by $0.01. AstraZeneca had a return on equity of 29.34% and a net margin of 13.11%. The business had revenue of $12.45 billion during the quarter, compared to the consensus estimate of $12.62 billion. During the same quarter last year, the company earned $1.08 earnings per share. The company’s quarterly revenue was up 9.1% on a year-over-year basis. Equities research analysts anticipate that AstraZeneca will post 4.06 earnings per share for the current year.

AstraZeneca Cuts Dividend

The firm also recently disclosed a Semi-Annual dividend, which will be paid on Monday, September 9th. Stockholders of record on Friday, August 9th will be paid a $0.49 dividend. The ex-dividend date of this dividend is Friday, August 9th. This represents a dividend yield of 1.8%. AstraZeneca’s payout ratio is currently 48.04%.

Institutional Investors Weigh In On AstraZeneca

Hedge funds have recently added to or reduced their stakes in the business. Price T Rowe Associates Inc. MD grew its stake in shares of AstraZeneca by 17.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 61,271,974 shares of the company’s stock worth $4,151,177,000 after purchasing an additional 9,002,450 shares during the period. Capital International Investors increased its holdings in AstraZeneca by 0.5% in the fourth quarter. Capital International Investors now owns 34,782,762 shares of the company’s stock valued at $2,342,367,000 after buying an additional 164,183 shares in the last quarter. Sanders Capital LLC lifted its position in shares of AstraZeneca by 39.0% in the fourth quarter. Sanders Capital LLC now owns 14,684,066 shares of the company’s stock valued at $988,972,000 after acquiring an additional 4,122,965 shares in the last quarter. CIBC Private Wealth Group LLC increased its position in shares of AstraZeneca by 9.3% during the fourth quarter. CIBC Private Wealth Group LLC now owns 10,424,914 shares of the company’s stock worth $708,617,000 after purchasing an additional 889,178 shares in the last quarter. Finally, Fisher Asset Management LLC raised its stake in AstraZeneca by 2.5% in the 4th quarter. Fisher Asset Management LLC now owns 9,404,023 shares of the company’s stock valued at $633,361,000 after purchasing an additional 233,015 shares during the last quarter. 20.35% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on AZN. The Goldman Sachs Group began coverage on AstraZeneca in a research note on Thursday, May 30th. They set a “buy” rating and a $97.00 price target for the company. Citigroup raised shares of AstraZeneca to a “strong-buy” rating in a research note on Monday, June 24th. Barclays raised shares of AstraZeneca to a “strong-buy” rating in a research note on Monday, June 24th. Argus upped their target price on shares of AstraZeneca from $80.00 to $85.00 and gave the stock a “buy” rating in a research note on Thursday, May 30th. Finally, TD Cowen lifted their price target on shares of AstraZeneca from $90.00 to $95.00 and gave the company a “buy” rating in a research note on Monday, August 12th. Three research analysts have rated the stock with a hold rating, six have given a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $89.75.

About AstraZeneca

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.