Deutsche Bank Aktiengesellschaft Downgrades AstraZeneca (NASDAQ:AZN) to Sell

Deutsche Bank Aktiengesellschaft cut shares of AstraZeneca (NASDAQ:AZN) from a hold rating to a sell rating in a research note published on Friday, MarketBeat reports.

Several other equities analysts have also issued reports on the stock. Barclays upgraded shares of AstraZeneca to a strong-buy rating in a report on Monday, June 24th. The Goldman Sachs Group initiated coverage on shares of AstraZeneca in a report on Thursday, May 30th. They set a buy rating and a $97.00 target price for the company. Argus lifted their target price on shares of AstraZeneca from $80.00 to $85.00 and gave the company a buy rating in a report on Thursday, May 30th. Citigroup upgraded shares of AstraZeneca to a strong-buy rating in a report on Monday, June 24th. Finally, Erste Group Bank upgraded shares of AstraZeneca from a hold rating to a buy rating in a report on Wednesday, September 11th. One analyst has rated the stock with a sell rating, one has given a hold rating, seven have assigned a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of Buy and a consensus price target of $89.75.

AstraZeneca Stock Performance

Shares of AZN opened at $79.04 on Friday. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.89 and a quick ratio of 0.69. AstraZeneca has a one year low of $60.47 and a one year high of $87.68. The company has a 50-day simple moving average of $81.75 and a two-hundred day simple moving average of $76.35. The firm has a market capitalization of $245.07 billion, a PE ratio of 38.75, a price-to-earnings-growth ratio of 1.49 and a beta of 0.47.

AstraZeneca (NASDAQ:AZN) last issued its quarterly earnings data on Thursday, July 25th. The company reported $0.99 EPS for the quarter, topping the consensus estimate of $0.98 by $0.01. AstraZeneca had a net margin of 13.11% and a return on equity of 29.34%. The business had revenue of $12.45 billion during the quarter, compared to analyst estimates of $12.62 billion. During the same period last year, the business posted $1.08 earnings per share. AstraZeneca’s quarterly revenue was up 9.1% compared to the same quarter last year. On average, analysts anticipate that AstraZeneca will post 4.05 EPS for the current fiscal year.

AstraZeneca Cuts Dividend

The company also recently declared a Semi-Annual dividend, which was paid on Monday, September 9th. Investors of record on Friday, August 9th were given a dividend of $0.49 per share. This represents a dividend yield of 1.8%. The ex-dividend date was Friday, August 9th. AstraZeneca’s dividend payout ratio (DPR) is currently 48.04%.

Institutional Investors Weigh In On AstraZeneca

Several institutional investors and hedge funds have recently made changes to their positions in the company. Lindbrook Capital LLC grew its position in AstraZeneca by 1.7% in the 1st quarter. Lindbrook Capital LLC now owns 8,005 shares of the company’s stock worth $542,000 after purchasing an additional 137 shares during the period. Bruce G. Allen Investments LLC grew its position in AstraZeneca by 19.1% in the 2nd quarter. Bruce G. Allen Investments LLC now owns 860 shares of the company’s stock worth $67,000 after purchasing an additional 138 shares during the period. Carnegie Investment Counsel grew its position in AstraZeneca by 0.8% in the 2nd quarter. Carnegie Investment Counsel now owns 17,269 shares of the company’s stock worth $1,347,000 after purchasing an additional 138 shares during the period. CANADA LIFE ASSURANCE Co grew its position in AstraZeneca by 40.6% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 506 shares of the company’s stock worth $34,000 after purchasing an additional 146 shares during the period. Finally, Sunpointe LLC grew its position in AstraZeneca by 4.5% in the 2nd quarter. Sunpointe LLC now owns 3,419 shares of the company’s stock worth $267,000 after purchasing an additional 147 shares during the period. Institutional investors own 20.35% of the company’s stock.

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.