AstraZeneca (NASDAQ:AZN) Hits New 1-Year High at $77.16

AstraZeneca PLC (NASDAQ:AZN) shares hit a new 52-week high during trading on Wednesday . The stock traded as high as $77.16 and last traded at $77.15, with a volume of 747740 shares traded. The stock had previously closed at $76.32.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on AZN shares. BMO Capital Markets raised their price objective on AstraZeneca from $80.00 to $82.00 and gave the company an “outperform” rating in a report on Friday, April 26th. Deutsche Bank Aktiengesellschaft raised shares of AstraZeneca from a “sell” rating to a “hold” rating in a research note on Tuesday, April 16th. Finally, Morgan Stanley began coverage on AstraZeneca in a report on Tuesday, January 23rd. They issued an “overweight” rating for the company. Three research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $81.00.

AstraZeneca Price Performance

The company has a quick ratio of 0.70, a current ratio of 0.89 and a debt-to-equity ratio of 0.73. The company has a market cap of $240.63 billion, a price-to-earnings ratio of 38.04, a PEG ratio of 1.38 and a beta of 0.47. The stock’s 50-day simple moving average is $69.01 and its 200 day simple moving average is $66.58.

AstraZeneca (NASDAQ:AZN) last released its quarterly earnings results on Thursday, February 8th. The company reported $0.73 EPS for the quarter, missing the consensus estimate of $0.74 by ($0.01). The firm had revenue of $12.02 billion for the quarter, compared to analysts’ expectations of $12.07 billion. AstraZeneca had a return on equity of 30.42% and a net margin of 13.30%. The company’s quarterly revenue was up 7.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.69 earnings per share. On average, equities research analysts anticipate that AstraZeneca PLC will post 4.01 EPS for the current fiscal year.

Institutional Investors Weigh In On AstraZeneca

Several large investors have recently added to or reduced their stakes in AZN. Bank of New York Mellon Corp boosted its stake in shares of AstraZeneca by 5.4% in the 3rd quarter. Bank of New York Mellon Corp now owns 887,230 shares of the company’s stock valued at $60,083,000 after buying an additional 45,504 shares during the period. Brown Advisory Inc. raised its holdings in shares of AstraZeneca by 11.5% in the 3rd quarter. Brown Advisory Inc. now owns 9,713 shares of the company’s stock valued at $658,000 after purchasing an additional 999 shares in the last quarter. CENTRAL TRUST Co lifted its position in shares of AstraZeneca by 2.2% during the 3rd quarter. CENTRAL TRUST Co now owns 9,576 shares of the company’s stock worth $648,000 after purchasing an additional 204 shares during the last quarter. Gradient Investments LLC grew its stake in shares of AstraZeneca by 2.4% during the third quarter. Gradient Investments LLC now owns 7,259 shares of the company’s stock worth $492,000 after purchasing an additional 169 shares in the last quarter. Finally, ING Groep NV increased its holdings in AstraZeneca by 1,897.6% in the third quarter. ING Groep NV now owns 70,774 shares of the company’s stock valued at $4,793,000 after buying an additional 67,231 shares during the last quarter. 20.35% of the stock is owned by hedge funds and other institutional investors.

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.