AstraZeneca (NASDAQ:AZN) Raised to “Hold” at Deutsche Bank Aktiengesellschaft

Deutsche Bank Aktiengesellschaft upgraded shares of AstraZeneca (NASDAQ:AZN) from a sell rating to a hold rating in a research report sent to investors on Tuesday, MarketBeat reports.

Several other analysts also recently issued reports on the company. Morgan Stanley started coverage on AstraZeneca in a research note on Tuesday, January 23rd. They issued an overweight rating for the company. HSBC initiated coverage on AstraZeneca in a research report on Monday, December 18th. They issued a buy rating on the stock. Finally, Jefferies Financial Group cut shares of AstraZeneca from a buy rating to a hold rating in a research report on Wednesday, January 3rd. Three analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of Moderate Buy and a consensus target price of $80.00.

AstraZeneca Stock Performance

AZN opened at $68.36 on Tuesday. The business has a fifty day simple moving average of $66.12 and a 200 day simple moving average of $65.87. The company has a market capitalization of $211.94 billion, a PE ratio of 35.60, a price-to-earnings-growth ratio of 1.25 and a beta of 0.50. AstraZeneca has a 1 year low of $60.47 and a 1 year high of $76.56. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.82 and a quick ratio of 0.64.

AstraZeneca (NASDAQ:AZN) last released its quarterly earnings results on Thursday, February 8th. The company reported $0.73 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.74 by ($0.01). The firm had revenue of $12.02 billion during the quarter, compared to the consensus estimate of $12.07 billion. AstraZeneca had a net margin of 13.00% and a return on equity of 30.19%. The business’s revenue for the quarter was up 7.3% compared to the same quarter last year. During the same quarter last year, the firm earned $0.69 earnings per share. Research analysts expect that AstraZeneca will post 4.02 EPS for the current year.

AstraZeneca Increases Dividend

The firm also recently declared a Semi-Annual dividend, which was paid on Monday, March 25th. Stockholders of record on Friday, February 23rd were paid a $0.965 dividend. This is a positive change from AstraZeneca’s previous Semi-Annual dividend of $0.47. The ex-dividend date was Thursday, February 22nd. This represents a dividend yield of 2.3%. AstraZeneca’s dividend payout ratio (DPR) is presently 100.52%.

Institutional Trading of AstraZeneca

Institutional investors and hedge funds have recently modified their holdings of the business. Sanders Capital LLC acquired a new position in AstraZeneca during the third quarter worth about $715,198,000. Norges Bank acquired a new position in AstraZeneca during the 4th quarter worth approximately $254,290,000. Arrowstreet Capital Limited Partnership lifted its stake in AstraZeneca by 407.1% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 4,093,345 shares of the company’s stock valued at $271,553,000 after purchasing an additional 3,286,137 shares during the last quarter. Manning & Napier Group LLC boosted its position in AstraZeneca by 281.2% in the fourth quarter. Manning & Napier Group LLC now owns 2,779,212 shares of the company’s stock valued at $187,180,000 after buying an additional 2,050,064 shares in the last quarter. Finally, Clearbridge Investments LLC grew its stake in shares of AstraZeneca by 118.9% during the fourth quarter. Clearbridge Investments LLC now owns 3,592,447 shares of the company’s stock worth $241,951,000 after buying an additional 1,951,591 shares during the last quarter. 20.35% of the stock is currently owned by institutional investors.

AstraZeneca Company Profile

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.