AstraZeneca (NASDAQ:AZN) Sets New 52-Week High – Still a Buy?

Shares of AstraZeneca PLC (NASDAQ:AZN) hit a new 52-week high on Tuesday . The company traded as high as $95.27 and last traded at $94.7120, with a volume of 2291141 shares trading hands. The stock had previously closed at $91.22.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on AZN. HSBC reaffirmed a “buy” rating and set a $108.00 target price on shares of AstraZeneca in a report on Wednesday, December 10th. Morgan Stanley restated an “overweight” rating and set a $103.00 price target on shares of AstraZeneca in a research report on Wednesday, December 3rd. Guggenheim reiterated a “buy” rating on shares of AstraZeneca in a report on Wednesday, December 3rd. Cowen reissued a “buy” rating on shares of AstraZeneca in a research note on Tuesday, December 9th. Finally, Jefferies Financial Group started coverage on AstraZeneca in a research report on Monday, October 27th. They issued a “buy” rating for the company. Nine research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $95.75.

AstraZeneca Stock Performance

The firm’s 50 day moving average price is $89.85 and its two-hundred day moving average price is $81.64. The firm has a market cap of $291.57 billion, a PE ratio of 20.82, a PEG ratio of 1.57 and a beta of 0.34. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.69 and a current ratio of 0.88.

AstraZeneca (NASDAQ:AZN) last released its quarterly earnings results on Thursday, November 6th. The company reported $1.19 EPS for the quarter, beating the consensus estimate of $1.14 by $0.05. The firm had revenue of $15.19 billion for the quarter, compared to analyst estimates of $14.75 billion. AstraZeneca had a net margin of 16.17% and a return on equity of 32.89%. The business’s revenue for the quarter was up 12.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.08 EPS. On average, research analysts forecast that AstraZeneca PLC will post 4.51 earnings per share for the current year.

Institutional Trading of AstraZeneca

Several institutional investors and hedge funds have recently bought and sold shares of the stock. NewSquare Capital LLC increased its position in shares of AstraZeneca by 149.3% during the second quarter. NewSquare Capital LLC now owns 364 shares of the company’s stock valued at $25,000 after acquiring an additional 218 shares during the last quarter. Triumph Capital Management purchased a new position in shares of AstraZeneca during the 3rd quarter worth approximately $25,000. Richardson Financial Services Inc. increased its holdings in AstraZeneca by 59.8% in the 2nd quarter. Richardson Financial Services Inc. now owns 398 shares of the company’s stock valued at $28,000 after purchasing an additional 149 shares during the last quarter. Rakuten Investment Management Inc. purchased a new stake in AstraZeneca in the third quarter valued at approximately $31,000. Finally, FSA Wealth Management LLC raised its position in AstraZeneca by 376.0% in the second quarter. FSA Wealth Management LLC now owns 476 shares of the company’s stock valued at $33,000 after purchasing an additional 376 shares during the period. 20.35% of the stock is currently owned by hedge funds and other institutional investors.

About AstraZeneca

AstraZeneca is a global, science-led 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’s operations span research and development, large-scale manufacturing, and commercial distribution, with a presence in developed and emerging markets worldwide.

The company focuses on several core therapy areas including oncology, cardiovascular, renal and metabolism (CVRM), respiratory and immunology, and rare diseases.