Astrazeneca (NYSE:AZN) Shares Gap Up – Should You Buy?

Astrazeneca Plc (NYSE:AZN)’s share price gapped up before the market opened on Friday . The stock had previously closed at $183.40, but opened at $190.88. Astrazeneca shares last traded at $190.3450, with a volume of 1,026,481 shares.

Analyst Upgrades and Downgrades

AZN has been the subject of a number of analyst reports. Guggenheim reissued a “buy” rating on shares of Astrazeneca in a research report on Wednesday, December 3rd. TD Cowen reaffirmed a “buy” rating on shares of Astrazeneca in a research note on Wednesday, March 18th. Weiss Ratings started coverage on Astrazeneca in a report on Wednesday, March 11th. They issued a “buy (b)” rating for the company. Morgan Stanley reissued an “overweight” rating and set a $103.00 price target on shares of Astrazeneca in a research note on Wednesday, December 3rd. Finally, Wall Street Zen raised Astrazeneca from a “hold” rating to a “buy” rating in a research report on Friday, March 20th. Nine equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $95.75.

Astrazeneca Price Performance

The stock has a market capitalization of $294.54 billion, a PE ratio of 28.99, a P/E/G ratio of 1.41 and a beta of 0.32. The company has a current ratio of 0.94, a quick ratio of 0.72 and a debt-to-equity ratio of 0.51.

Astrazeneca Announces Dividend

The business also recently declared a dividend, which was paid on Monday, March 23rd. Shareholders of record on Friday, February 20th were issued a $1.595 dividend. This represents a dividend yield of 156.0%. The ex-dividend date was Friday, February 20th. Astrazeneca’s dividend payout ratio (DPR) is 74.83%.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in AZN. Bank of America Corp DE increased its stake in Astrazeneca by 4.7% during the third quarter. Bank of America Corp DE now owns 32,633,139 shares of the company’s stock worth $2,503,614,000 after acquiring an additional 1,461,786 shares during the last quarter. Fisher Asset Management LLC lifted its stake in shares of Astrazeneca by 2.1% in the 4th quarter. Fisher Asset Management LLC now owns 21,601,433 shares of the company’s stock valued at $3,791,051,000 after purchasing an additional 438,709 shares in the last quarter. Franklin Resources Inc. grew its holdings in shares of Astrazeneca by 2.3% during the 4th quarter. Franklin Resources Inc. now owns 20,157,744 shares of the company’s stock worth $3,537,684,000 after purchasing an additional 445,014 shares during the period. Morgan Stanley increased its position in Astrazeneca by 3.2% during the 4th quarter. Morgan Stanley now owns 13,878,726 shares of the company’s stock worth $2,435,716,000 after purchasing an additional 432,939 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in Astrazeneca by 9.4% in the third quarter. Dimensional Fund Advisors LP now owns 6,805,896 shares of the company’s stock valued at $521,517,000 after buying an additional 582,183 shares during the period. 20.35% of the stock is owned by hedge funds and other institutional investors.

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.