Zacks Research Upgrades Astrazeneca (NYSE:AZN) to “Hold”

Astrazeneca (NYSE:AZN) was upgraded by investment analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research report issued to clients and investors on Tuesday, Zacks reports.

AZN has been the subject of a number of other research reports. Royal Bank Of Canada assumed coverage on shares of Astrazeneca in a report on Tuesday, September 8th. They issued an “outperform” rating for the company. JPMorgan Chase & Co. reissued a “buy” rating on shares of Astrazeneca in a research note on Tuesday, June 30th. Deutsche Bank Aktiengesellschaft upgraded Astrazeneca from a “sell” rating to a “hold” rating in a report on Tuesday, September 15th. Citigroup restated a “buy” rating on shares of Astrazeneca in a research report on Tuesday, October 6th. Finally, The Goldman Sachs Group restated a “buy” rating on shares of Astrazeneca in a research report on Wednesday, July 1st. Fifteen research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $206.67.

Astrazeneca Price Performance

Shares of NYSE AZN opened at $162.21 on Tuesday. The firm has a 50-day simple moving average of $161.96 and a 200-day simple moving average of $176.37. The company has a quick ratio of 0.67, a current ratio of 0.89 and a debt-to-equity ratio of 0.47. The stock has a market capitalization of $251.57 billion, a price-to-earnings ratio of 24.25, a price-to-earnings-growth ratio of 1.32 and a beta of 0.27. Astrazeneca has a 52 week low of $153.41 and a 52 week high of $212.71.

Astrazeneca (NYSE:AZN) last posted its quarterly earnings results on Monday, July 27th. The company reported $2.63 earnings per share for the quarter, topping analysts’ consensus estimates of $2.50 by $0.13. The firm had revenue of $15.38 billion for the quarter, compared to analyst estimates of $15.44 billion. Astrazeneca had a net margin of 17.02% and a return on equity of 31.45%. Astrazeneca’s quarterly revenue was up 6.4% on a year-over-year basis. During the same period in the previous year, the business posted $2.17 earnings per share. On average, equities analysts predict that Astrazeneca will post 9.38 earnings per share for the current fiscal year.

Institutional Trading of Astrazeneca

Several hedge funds have recently made changes to their positions in the company. Mascoma Wealth Management LLC acquired a new position in Astrazeneca in the first quarter valued at approximately $26,000. MV Capital Management Inc. acquired a new position in Astrazeneca in the 4th quarter valued at about $26,000. Roxbury Financial LLC acquired a new position in shares of Astrazeneca in the second quarter valued at approximately $29,000. Reflection Asset Management acquired a new position in shares of Astrazeneca in the fourth quarter worth $31,000. Finally, Resources Management Corp CT ADV purchased a new stake in Astrazeneca during the 1st quarter worth about $35,000. Hedge funds and other institutional investors own 20.35% of the company’s stock.

Astrazeneca Company Profile

AstraZeneca PLC is a global biopharmaceutical company headquartered in Cambridge, United Kingdom. Its research, development and commercial operations focus on prescription medicines for serious and chronic diseases, with an emphasis on discovering and delivering innovative therapies rather than operating as a diversified healthcare conglomerate.

The company’s principal therapeutic areas include oncology; cardiovascular, renal and metabolic diseases; respiratory and immunological conditions; and rare diseases.