Astrazeneca (NYSE:AZN) Lowered to Hold Rating by Wall Street Zen

Wall Street Zen lowered shares of Astrazeneca (NYSE:AZN) from a buy rating to a hold rating in a research note released on Saturday morning.

Other equities analysts have also recently issued research reports about the stock. DZ Bank upgraded Astrazeneca from a “neutral” rating to a “buy” rating in a research note on Wednesday, April 29th. Deutsche Bank Aktiengesellschaft reissued a “sell” rating on shares of Astrazeneca in a research note on Tuesday, June 30th. Bank of America reissued a “buy” rating on shares of Astrazeneca in a research report on Wednesday, July 1st. JPMorgan Chase & Co. reissued a “buy” rating on shares of Astrazeneca in a research report on Tuesday, June 30th. Finally, Sanford C. Bernstein reissued a “buy” rating on shares of Astrazeneca in a research report on Monday, May 4th. Twelve research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Astrazeneca has an average rating of “Moderate Buy” and an average price target of $211.00.

Astrazeneca Stock Performance

NYSE:AZN opened at $169.77 on Friday. The company has a quick ratio of 0.71, a current ratio of 0.89 and a debt-to-equity ratio of 0.47. Astrazeneca has a twelve month low of $145.79 and a twelve month high of $212.71. The company has a fifty day moving average of $179.02 and a 200-day moving average of $187.80. The firm has a market capitalization of $263.30 billion, a P/E ratio of 25.38, a P/E/G ratio of 1.47 and a beta of 0.24.

Astrazeneca (NYSE:AZN) last issued its earnings results on Monday, July 27th. The company reported $2.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.50 by $0.13. Astrazeneca had a net margin of 17.02% and a return on equity of 31.45%. The business had revenue of $15.38 billion for the quarter, compared to analyst estimates of $15.44 billion. During the same period in the prior year, the firm earned $2.17 earnings per share. Astrazeneca’s revenue was up 6.4% on a year-over-year basis. As a group, sell-side analysts anticipate that Astrazeneca will post 10.22 EPS for the current year.

Hedge Funds Weigh In On Astrazeneca

Several institutional investors have recently bought and sold shares of AZN. Brighton Jones LLC lifted its holdings in Astrazeneca by 93.2% during the fourth quarter. Brighton Jones LLC now owns 5,782 shares of the company’s stock valued at $379,000 after purchasing an additional 2,789 shares during the last quarter. AQR Capital Management LLC increased its stake in shares of Astrazeneca by 45.3% in the first quarter. AQR Capital Management LLC now owns 37,501 shares of the company’s stock worth $2,756,000 after purchasing an additional 11,690 shares in the last quarter. Amundi raised its position in shares of Astrazeneca by 54.4% in the second quarter. Amundi now owns 10,274 shares of the company’s stock valued at $731,000 after purchasing an additional 3,618 shares during the period. Jump Financial LLC raised its position in shares of Astrazeneca by 898.4% in the second quarter. Jump Financial LLC now owns 33,478 shares of the company’s stock valued at $2,339,000 after purchasing an additional 30,125 shares during the period. Finally, Daiwa Securities Group Inc. lifted its stake in shares of Astrazeneca by 1.2% during the 2nd quarter. Daiwa Securities Group Inc. now owns 46,642 shares of the company’s stock valued at $3,259,000 after buying an additional 559 shares in the last quarter. Hedge funds and other institutional investors own 20.35% of the company’s stock.

About Astrazeneca

AstraZeneca plc is a global biopharmaceutical company headquartered in Cambridge, England. Formed through the 1999 merger of Sweden’s Astra AB and the UK’s Zeneca Group, the company researches, develops, manufactures and commercializes prescription medicines across a range of therapeutic areas. AstraZeneca positions itself as R&D-driven, investing in discovery science, clinical development and regulatory processes to bring new therapies to market.

The company’s commercial portfolio and late-stage pipeline emphasize oncology, cardiovascular, renal and metabolic (CVRM) diseases, and respiratory and immunology.