AstraZeneca (NASDAQ:AZN) Shares Gap Up to $71.20

AstraZeneca PLC (NASDAQ:AZN) gapped up prior to trading on Thursday . The stock had previously closed at $71.20, but opened at $74.99. AstraZeneca shares last traded at $75.19, with a volume of 4,436,841 shares traded.

Analyst Ratings Changes

Several research analysts have recently issued reports on AZN shares. Deutsche Bank Aktiengesellschaft raised AstraZeneca from a “sell” rating to a “hold” rating in a research note on Tuesday, April 16th. Jefferies Financial Group cut AstraZeneca from a “buy” rating to a “hold” rating in a research note on Wednesday, January 3rd. Finally, Morgan Stanley initiated coverage on AstraZeneca in a research note on Tuesday, January 23rd. They issued an “overweight” rating for the company. Three analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $80.00.

AstraZeneca Stock Up 5.4 %

The business’s 50-day moving average price is $66.81 and its 200-day moving average price is $65.95. The company has a quick ratio of 0.64, a current ratio of 0.82 and a debt-to-equity ratio of 0.57. The firm has a market capitalization of $232.63 billion, a PE ratio of 39.38, a price-to-earnings-growth ratio of 1.30 and a beta of 0.50.

AstraZeneca (NASDAQ:AZN) last announced its quarterly earnings results on Thursday, February 8th. The company reported $0.73 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 company’s quarterly revenue was up 7.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.69 EPS. As a group, equities research analysts predict that AstraZeneca PLC will post 4 EPS for the current fiscal year.

AstraZeneca Increases Dividend

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

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of AZN. Anchor Investment Management LLC acquired a new position in shares of AstraZeneca during the fourth quarter worth approximately $26,000. Compagnie Lombard Odier SCmA bought a new stake in shares of AstraZeneca during the fourth quarter valued at approximately $27,000. Able Wealth Management LLC bought a new stake in shares of AstraZeneca during the fourth quarter valued at approximately $27,000. Nemes Rush Group LLC increased its position in shares of AstraZeneca by 375.6% during the third quarter. Nemes Rush Group LLC now owns 428 shares of the company’s stock valued at $29,000 after purchasing an additional 338 shares during the period. Finally, Pin Oak Investment Advisors Inc. increased its position in shares of AstraZeneca by 468.4% during the fourth quarter. Pin Oak Investment Advisors Inc. now owns 449 shares of the company’s stock valued at $30,000 after purchasing an additional 370 shares during the period. 20.35% of the stock is currently owned by institutional investors and hedge funds.

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.