AstraZeneca Sees Unusually High Options Volume (NASDAQ:AZN)

AstraZeneca PLC (NASDAQ:AZN) was the target of some unusual options trading on Wednesday. Stock traders purchased 10,448 call options on the company. This is an increase of 57% compared to the typical volume of 6,645 call options.

Analysts Set New Price Targets

Separately, Berenberg Bank set a $97.00 price target on AstraZeneca in a report on Wednesday, July 9th. Three research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $86.00.

Hedge Funds Weigh In On AstraZeneca

Institutional investors have recently modified their holdings of the stock. NewSquare Capital LLC grew its position in shares of AstraZeneca by 149.3% during the 2nd quarter. NewSquare Capital LLC now owns 364 shares of the company’s stock worth $25,000 after buying an additional 218 shares during the period. Larson Financial Group LLC lifted its stake in AstraZeneca by 297.9% in the 1st quarter. Larson Financial Group LLC now owns 386 shares of the company’s stock valued at $28,000 after acquiring an additional 289 shares in the last quarter. Richardson Financial Services Inc. lifted its stake in AstraZeneca by 59.8% in the 2nd quarter. Richardson Financial Services Inc. now owns 398 shares of the company’s stock valued at $28,000 after acquiring an additional 149 shares in the last quarter. FNY Investment Advisers LLC bought a new stake in shares of AstraZeneca during the 1st quarter worth approximately $29,000. Finally, Costello Asset Management INC bought a new stake in shares of AstraZeneca during the 1st quarter worth approximately $29,000. 20.35% of the stock is currently owned by institutional investors and hedge funds.

AstraZeneca Price Performance

Shares of AZN stock opened at $83.65 on Friday. The firm has a market cap of $259.43 billion, a price-to-earnings ratio of 31.45, a PEG ratio of 1.55 and a beta of 0.36. AstraZeneca has a 12 month low of $61.24 and a 12 month high of $84.61. The stock has a 50-day moving average price of $77.79 and a 200 day moving average price of $73.04. The company has a quick ratio of 0.67, a current ratio of 0.86 and a debt-to-equity ratio of 0.55.

AstraZeneca (NASDAQ:AZN) last posted its earnings results on Tuesday, July 29th. The company reported $1.09 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.09. The company had revenue of $14.46 billion during the quarter, compared to analyst estimates of $14.08 billion. AstraZeneca had a return on equity of 32.84% and a net margin of 14.68%.The company’s revenue for the quarter was up 16.1% compared to the same quarter last year. During the same period in the previous year, the company earned $1.24 EPS. Research analysts expect that AstraZeneca will post 4.51 EPS for the current year.

AstraZeneca Cuts Dividend

The business also recently announced a semi-annual dividend, which was paid on Monday, September 8th. Stockholders of record on Friday, August 8th were given a dividend of $0.505 per share. This represents a dividend yield of 200.0%. The ex-dividend date was Friday, August 8th. AstraZeneca’s payout ratio is presently 37.97%.

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.