Astrazeneca (NYSE:AZN) Rating Increased to Buy at Wall Street Zen

Wall Street Zen upgraded shares of Astrazeneca (NYSE:AZN) from a hold rating to a buy rating in a research note published on Friday morning.

A number of other brokerages have also weighed in on AZN. Citigroup initiated coverage on shares of Astrazeneca in a report on Tuesday, January 27th. They issued a “buy” rating for the company. Weiss Ratings initiated coverage on Astrazeneca in a research note on Wednesday, March 11th. They set a “buy (b)” rating on the stock. TD Cowen reissued a “buy” rating on shares of Astrazeneca in a report on Wednesday. Guggenheim restated a “buy” rating on shares of Astrazeneca in a research note on Wednesday, December 3rd. Finally, HSBC reaffirmed a “buy” rating and set a $108.00 price target on shares of Astrazeneca in a report on Wednesday, December 10th. Nine investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, Astrazeneca currently has a consensus rating of “Moderate Buy” and an average price target of $95.75.

Astrazeneca Stock Down 2.9%

Astrazeneca stock opened at $183.40 on Friday. Astrazeneca has a fifty-two week low of $122.48 and a fifty-two week high of $212.71. The company has a current ratio of 0.94, a quick ratio of 0.72 and a debt-to-equity ratio of 0.51. The company has a market cap of $284.44 billion, a price-to-earnings ratio of 20.63, a PEG ratio of 1.42 and a beta of 0.32.

Astrazeneca Announces Dividend

The firm also recently declared a dividend, which will be paid on Monday, March 23rd. Shareholders of record on Friday, February 20th will be given a $1.595 dividend. The ex-dividend date is Friday, February 20th. This represents a yield of 156.0%. Astrazeneca’s dividend payout ratio (DPR) is presently 66.26%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of AZN. Arrowstreet Capital Limited Partnership lifted its position in Astrazeneca by 552.9% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 5,547,597 shares of the company’s stock valued at $973,603,000 after purchasing an additional 4,697,895 shares in the last quarter. Bank of Montreal Can increased its position in Astrazeneca by 344.6% in the third quarter. Bank of Montreal Can now owns 3,478,114 shares of the company’s stock worth $266,841,000 after buying an additional 2,695,793 shares in the last quarter. Citigroup Inc. increased its position in Astrazeneca by 65.3% in the fourth quarter. Citigroup Inc. now owns 6,154,760 shares of the company’s stock worth $1,080,160,000 after buying an additional 2,431,890 shares in the last quarter. Fayez Sarofim & Co raised its stake in shares of Astrazeneca by 173.4% in the second quarter. Fayez Sarofim & Co now owns 3,745,902 shares of the company’s stock worth $261,764,000 after buying an additional 2,376,032 shares during the period. Finally, Holocene Advisors LP raised its stake in shares of Astrazeneca by 41.8% in the third quarter. Holocene Advisors LP now owns 6,129,194 shares of the company’s stock worth $470,232,000 after buying an additional 1,807,565 shares during the period. 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.