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

Shares of AstraZeneca PLC (NASDAQ:AZN) have earned a consensus recommendation of “Buy” from the ten research firms that are covering the firm, Marketbeat reports. One research analyst has rated the stock with a hold recommendation, seven have assigned a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $89.75.

A number of research firms recently issued reports on AZN. Morgan Stanley began coverage on AstraZeneca in a research report on Wednesday, February 12th. They set an “overweight” rating for the company. Deutsche Bank Aktiengesellschaft raised AstraZeneca from a “sell” rating to a “hold” rating in a research report on Wednesday, November 6th. Finally, UBS Group upgraded AstraZeneca from a “neutral” rating to a “buy” rating in a report on Thursday, February 13th.

Hedge Funds Weigh In On AstraZeneca

Institutional investors have recently made changes to their positions in the business. McClarren Financial Advisors Inc. increased its stake in shares of AstraZeneca by 320.8% in the third quarter. McClarren Financial Advisors Inc. now owns 324 shares of the company’s stock worth $25,000 after purchasing an additional 247 shares during the period. Capital Performance Advisors LLP bought a new position in shares of AstraZeneca in the third quarter worth about $28,000. Banque Transatlantique SA bought a new position in shares of AstraZeneca in the fourth quarter worth about $26,000. Ashton Thomas Securities LLC bought a new position in AstraZeneca during the third quarter valued at about $45,000. Finally, Albion Financial Group UT increased its stake in AstraZeneca by 68.9% during the fourth quarter. Albion Financial Group UT now owns 608 shares of the company’s stock valued at $40,000 after acquiring an additional 248 shares during the period. 20.35% of the stock is currently owned by institutional investors.

AstraZeneca Stock Performance

Shares of AstraZeneca stock opened at $73.58 on Friday. The stock has a market cap of $228.18 billion, a PE ratio of 32.56, a price-to-earnings-growth ratio of 1.20 and a beta of 0.46. The business has a fifty day simple moving average of $68.17 and a 200-day simple moving average of $73.34. The company has a quick ratio of 0.71, a current ratio of 0.93 and a debt-to-equity ratio of 0.71. AstraZeneca has a 12 month low of $61.77 and a 12 month high of $87.68.

AstraZeneca (NASDAQ:AZN) last released its quarterly earnings data on Thursday, February 6th. The company reported $1.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.10 by ($0.05). AstraZeneca had a net margin of 13.01% and a return on equity of 32.55%. On average, sell-side analysts anticipate that AstraZeneca will post 4.66 EPS for the current fiscal year.

AstraZeneca Increases Dividend

The business also recently announced a semi-annual dividend, which will be paid on Monday, March 24th. Shareholders of record on Friday, February 21st will be issued a dividend of $1.03 per share. This is a positive change from AstraZeneca’s previous semi-annual dividend of $0.49. This represents a yield of 2%. The ex-dividend date is Friday, February 21st. AstraZeneca’s dividend payout ratio (DPR) is 43.36%.

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.