Brokerages Set AstraZeneca PLC (NASDAQ:AZN) PT at $89.75

AstraZeneca PLC (NASDAQ:AZN) has received a consensus rating of “Buy” from the ten brokerages that are currently covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $89.75.

AZN has been the subject of a number of research reports. Morgan Stanley initiated coverage on AstraZeneca in a research note on Wednesday, February 12th. They issued an “overweight” rating for the company. UBS Group upgraded AstraZeneca from a “neutral” rating to a “buy” rating in a research note on Thursday, February 13th.

AstraZeneca Stock Up 1.4 %

Shares of NASDAQ AZN opened at $77.60 on Wednesday. AstraZeneca has a 1 year low of $62.75 and a 1 year high of $87.68. The firm has a market cap of $240.65 billion, a price-to-earnings ratio of 34.34, a PEG ratio of 1.42 and a beta of 0.41. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.74 and a current ratio of 0.93. The stock’s 50-day simple moving average is $71.86 and its 200-day simple moving average is $72.48.

AstraZeneca (NASDAQ:AZN) last posted its quarterly earnings results on Thursday, February 6th. The company reported $1.05 EPS for the quarter, missing analysts’ consensus estimates of $1.10 by ($0.05). AstraZeneca had a return on equity of 32.23% and a net margin of 13.01%. As a group, equities analysts anticipate that AstraZeneca will post 4.51 earnings per share 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 paid a $1.03 dividend. This is an increase 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 payout ratio is presently 91.15%.

Hedge Funds Weigh In On AstraZeneca

A number of hedge funds and other institutional investors have recently bought and sold shares of AZN. Bank of America Corp DE boosted its stake in AstraZeneca by 189.3% in the fourth quarter. Bank of America Corp DE now owns 24,026,966 shares of the company’s stock valued at $1,574,247,000 after acquiring an additional 15,722,197 shares during the period. Marshall Wace LLP acquired a new position in AstraZeneca in the fourth quarter valued at approximately $254,018,000. Boston Partners boosted its position in shares of AstraZeneca by 9,985.6% during the fourth quarter. Boston Partners now owns 3,707,479 shares of the company’s stock worth $243,444,000 after buying an additional 3,670,719 shares during the period. Raymond James Financial Inc. acquired a new position in shares of AstraZeneca during the fourth quarter worth approximately $158,018,000. Finally, Alyeska Investment Group L.P. boosted its position in shares of AstraZeneca by 220.8% during the fourth quarter. Alyeska Investment Group L.P. now owns 3,027,511 shares of the company’s stock worth $198,363,000 after buying an additional 2,083,645 shares during the period. 20.35% of the stock is currently owned by institutional investors and hedge funds.

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.