AstraZeneca (NASDAQ:AZN) Sets New 12-Month High at $77.16

AstraZeneca PLC (NASDAQ:AZN) hit a new 52-week high on Wednesday . The company traded as high as $77.16 and last traded at $77.15, with a volume of 747740 shares. The stock had previously closed at $76.32.

Analyst Ratings Changes

A number of research analysts have commented on the company. Morgan Stanley began coverage on AstraZeneca in a research report on Tuesday, January 23rd. They set an “overweight” rating on the stock. Deutsche Bank Aktiengesellschaft raised shares of AstraZeneca from a “sell” rating to a “hold” rating in a report on Tuesday, April 16th. Finally, BMO Capital Markets raised their target price on shares of AstraZeneca from $80.00 to $82.00 and gave the stock an “outperform” rating in a report on Friday, April 26th. Three investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $81.00.

AstraZeneca Price Performance

The firm has a market capitalization of $238.55 billion, a P/E ratio of 37.41, a PEG ratio of 1.38 and a beta of 0.47. The company has a quick ratio of 0.70, a current ratio of 0.89 and a debt-to-equity ratio of 0.73. The business’s 50 day moving average is $68.58 and its 200-day moving average is $66.42.

AstraZeneca (NASDAQ:AZN) last posted its quarterly earnings results on Thursday, February 8th. The company reported $0.73 EPS for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.01). AstraZeneca had a return on equity of 30.42% and a net margin of 13.30%. The business had revenue of $12.02 billion for the quarter, compared to analyst estimates of $12.07 billion. During the same period last year, the firm posted $0.69 EPS. AstraZeneca’s quarterly revenue was up 7.3% on a year-over-year basis. As a group, sell-side analysts predict that AstraZeneca PLC will post 4.01 EPS for the current fiscal year.

AstraZeneca Increases Dividend

The company 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 represents a dividend yield of 2.3%. This is a boost from AstraZeneca’s previous Semi-Annual dividend of $0.47. The ex-dividend date of this dividend was Thursday, February 22nd. AstraZeneca’s dividend payout ratio is presently 94.61%.

Institutional Trading of AstraZeneca

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Anchor Investment Management LLC acquired a new position in AstraZeneca in the 4th quarter valued at approximately $26,000. Compagnie Lombard Odier SCmA bought a new position in AstraZeneca during the 4th quarter worth $27,000. Able Wealth Management LLC acquired a new position in AstraZeneca during the 4th quarter worth about $27,000. Nemes Rush Group LLC grew its position in shares of AstraZeneca by 375.6% in the 3rd quarter. Nemes Rush Group LLC now owns 428 shares of the company’s stock valued at $29,000 after buying an additional 338 shares during the last quarter. Finally, Pin Oak Investment Advisors Inc. raised 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 worth $30,000 after acquiring an additional 370 shares during the last quarter. 20.35% of the stock is currently owned by institutional investors.

About AstraZeneca

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.