AstraZeneca (AZN) Downgraded to Buy at ValuEngine

ValuEngine lowered shares of AstraZeneca (NYSE:AZN) from a strong-buy rating to a buy rating in a research note published on Wednesday morning.

A number of other analysts also recently issued reports on AZN. BMO Capital Markets reissued a buy rating and issued a $38.00 price objective on shares of AstraZeneca in a report on Tuesday, November 7th. JPMorgan Chase & Co. raised shares of AstraZeneca from a neutral rating to an overweight rating in a report on Friday, December 29th. Zacks Investment Research downgraded shares of AstraZeneca from a hold rating to a sell rating in a report on Wednesday, January 3rd. Leerink Swann reaffirmed a market perform rating and set a $36.00 price target (up previously from $33.00) on shares of AstraZeneca in a report on Thursday, January 18th. Finally, Sanford C. Bernstein upped their price target on shares of AstraZeneca from $40.00 to $42.00 and gave the stock an outperform rating in a report on Monday, February 5th. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and twelve have given a buy rating to the company’s stock. AstraZeneca presently has an average rating of Hold and an average target price of $36.26.

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Shares of AstraZeneca (NYSE:AZN) opened at $33.79 on Wednesday. The company has a quick ratio of 0.62, a current ratio of 0.80 and a debt-to-equity ratio of 0.93. The stock has a market cap of $84,780.00, a PE ratio of 28.88, a price-to-earnings-growth ratio of 2.01 and a beta of 0.75. AstraZeneca has a twelve month low of $28.43 and a twelve month high of $36.70.

AstraZeneca (NYSE:AZN) last posted its quarterly earnings data on Friday, February 2nd. The company reported $1.30 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.44 by $0.86. The firm had revenue of $5.78 billion during the quarter, compared to the consensus estimate of $5.49 billion. AstraZeneca had a net margin of 13.36% and a return on equity of 34.74%. The business’s revenue for the quarter was up 3.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.21 EPS. equities research analysts expect that AstraZeneca will post 1.69 earnings per share for the current fiscal year.

The business also recently disclosed a semiannual dividend, which will be paid on Monday, March 19th. Investors of record on Friday, February 16th will be given a dividend of $0.95 per share. This represents a yield of 5.62%. The ex-dividend date is Thursday, February 15th. AstraZeneca’s dividend payout ratio is 117.09%.

A number of hedge funds have recently added to or reduced their stakes in the stock. The Manufacturers Life Insurance Company increased its position in AstraZeneca by 9.9% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 14,713 shares of the company’s stock worth $502,000 after purchasing an additional 1,327 shares in the last quarter. Commerce Bank increased its position in AstraZeneca by 14.7% during the 4th quarter. Commerce Bank now owns 11,548 shares of the company’s stock worth $400,000 after purchasing an additional 1,480 shares in the last quarter. M&T Bank Corp increased its position in AstraZeneca by 0.5% during the 4th quarter. M&T Bank Corp now owns 317,119 shares of the company’s stock worth $11,003,000 after purchasing an additional 1,676 shares in the last quarter. TIAA FSB increased its position in AstraZeneca by 6.7% during the 4th quarter. TIAA FSB now owns 27,087 shares of the company’s stock worth $940,000 after purchasing an additional 1,692 shares in the last quarter. Finally, First Allied Advisory Services Inc. increased its position in AstraZeneca by 7.6% during the 4th quarter. First Allied Advisory Services Inc. now owns 23,845 shares of the company’s stock worth $825,000 after purchasing an additional 1,694 shares in the last quarter. Institutional investors and hedge funds own 15.13% of the company’s stock.

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About AstraZeneca

AstraZeneca PLC (AstraZeneca) is a biopharmaceutical company. The Company focuses on discovery and development of products, which are then manufactured, marketed and sold. The Company focuses on three main therapy areas: Oncology, Cardiovascular & Metabolic Disease (CVMD) and Respiratory, while selectively pursuing therapies in Autoimmunity, Infection and Neuroscience.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for AstraZeneca (NYSE:AZN)

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