Astrazeneca (NYSE:AZN) Sees Unusually-High Trading Volume – Should You Buy?

Astrazeneca Plc (NYSE:AZN) saw strong trading volume on Wednesday . Approximately 2,583,401 shares traded hands during trading, a decline of 4% from the previous session’s volume of 2,680,922 shares.The stock last traded at $162.03 and had previously closed at $155.62.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on AZN. UBS Group reissued a “buy” rating on shares of Astrazeneca in a research note on Friday, April 10th. Weiss Ratings downgraded Astrazeneca from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Tuesday, July 28th. The Goldman Sachs Group reiterated a “buy” rating on shares of Astrazeneca in a report on Wednesday, July 1st. JPMorgan Chase & Co. reaffirmed a “buy” rating on shares of Astrazeneca in a research note on Tuesday, June 30th. Finally, Wall Street Zen cut shares of Astrazeneca from a “buy” rating to a “hold” rating in a research report on Saturday, August 1st. Twelve analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Astrazeneca presently has an average rating of “Moderate Buy” and an average price target of $211.00.

Astrazeneca Price Performance

The company has a debt-to-equity ratio of 0.47, a current ratio of 0.89 and a quick ratio of 0.67. The company has a 50-day simple moving average of $176.83 and a 200-day simple moving average of $187.26. The stock has a market cap of $248.92 billion, a PE ratio of 24.00, a PEG ratio of 1.40 and a beta of 0.26.

Astrazeneca (NYSE:AZN) last posted its quarterly earnings data on Monday, July 27th. The company reported $2.63 earnings per share for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $15.44 billion. During the same quarter in the previous year, the business posted $2.17 earnings per share. The company’s revenue was up 6.4% on a year-over-year basis. Sell-side analysts anticipate that Astrazeneca Plc will post 10.21 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. IHT Wealth Management LLC grew its position in shares of Astrazeneca by 0.3% during the 4th quarter. IHT Wealth Management LLC now owns 17,527 shares of the company’s stock valued at $3,076,000 after acquiring an additional 54 shares during the period. Visionary Wealth Advisors raised its holdings in Astrazeneca by 1.5% in the 4th quarter. Visionary Wealth Advisors now owns 4,197 shares of the company’s stock worth $737,000 after purchasing an additional 60 shares during the period. Vista Investment Management raised its holdings in Astrazeneca by 0.3% in the 4th quarter. Vista Investment Management now owns 21,215 shares of the company’s stock worth $3,723,000 after purchasing an additional 60 shares during the period. Kestra Investment Management LLC lifted its position in Astrazeneca by 1.9% during the fourth quarter. Kestra Investment Management LLC now owns 3,391 shares of the company’s stock valued at $595,000 after purchasing an additional 63 shares in the last quarter. Finally, Luken Investment Analytics LLC lifted its position in Astrazeneca by 4.3% during the fourth quarter. Luken Investment Analytics LLC now owns 1,564 shares of the company’s stock valued at $274,000 after purchasing an additional 64 shares in the last quarter. 20.35% of the stock is owned by institutional investors and hedge funds.

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.