Astrazeneca (NYSE:AZN) Downgraded 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 report released on Saturday.

A number of other brokerages have also commented on AZN. Citigroup initiated coverage on shares of Astrazeneca in a research note on Tuesday, January 27th. They issued a “buy” rating for the company. HSBC restated a “buy” rating and set a $108.00 price target on shares of Astrazeneca in a research note on Wednesday, December 10th. Deutsche Bank Aktiengesellschaft reaffirmed a “sell” rating on shares of Astrazeneca in a report on Friday, February 6th. Barclays reiterated an “overweight” rating on shares of Astrazeneca in a research report on Tuesday, January 6th. Finally, TD Cowen restated a “buy” rating on shares of Astrazeneca in a research report on Wednesday, March 18th. Nine equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $95.75.

Astrazeneca Stock Down 0.1%

Shares of AZN stock opened at $203.32 on Friday. The firm has a market cap of $315.33 billion, a P/E ratio of 31.04, a P/E/G ratio of 1.53 and a beta of 0.35. Astrazeneca has a 1 year low of $122.48 and a 1 year high of $212.71. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.72 and a current ratio of 0.94.

Astrazeneca Announces Dividend

The firm also recently announced a dividend, which was paid on Monday, March 23rd. Investors of record on Friday, February 20th were paid a $1.595 dividend. The ex-dividend date of this dividend was Friday, February 20th. This represents a yield of 156.0%. Astrazeneca’s payout ratio is presently 66.26%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in AZN. Brighton Jones LLC grew its position in Astrazeneca by 93.2% in the fourth quarter. Brighton Jones LLC now owns 5,782 shares of the company’s stock valued at $379,000 after acquiring an additional 2,789 shares during the period. AQR Capital Management LLC lifted its holdings in shares of Astrazeneca by 45.3% during the first quarter. AQR Capital Management LLC now owns 37,501 shares of the company’s stock valued at $2,756,000 after acquiring an additional 11,690 shares during the period. Rhumbline Advisers boosted its stake in shares of Astrazeneca by 3.3% in the 2nd quarter. Rhumbline Advisers now owns 29,064 shares of the company’s stock valued at $2,031,000 after purchasing an additional 922 shares in the last quarter. Norges Bank acquired a new stake in shares of Astrazeneca in the 2nd quarter valued at $4,219,000. Finally, Beacon Pointe Advisors LLC grew its holdings in shares of Astrazeneca by 4.2% in the 2nd quarter. Beacon Pointe Advisors LLC now owns 21,360 shares of the company’s stock worth $1,493,000 after purchasing an additional 862 shares during the last quarter. 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.