Astrazeneca (NYSE:AZN) Downgraded by Wall Street Zen to "Hold"

Key Points

• Wall Street Zen downgraded AstraZeneca from “Buy” to “Hold,” although the broader analyst consensus remains “Moderate Buy,” with 14 Buy, three Hold, and one Sell rating.
• AstraZeneca shares opened at $159.36, near their one-year low of $153.41 and below both the 50-day and 200-day moving averages. Analysts’ average price target is $206.67.
• The company exceeded quarterly earnings expectations, reporting $2.63 EPS versus a $2.50 estimate, while revenue rose 6.4% year over year to $15.38 billion, slightly below expectations.

Astrazeneca (NYSE:AZN - Get Free Report) was downgraded by Wall Street Zen from a "buy" rating to a "hold" rating in a research note issued to investors on Sunday, Wall Street Zen reports.

AZN has been the subject of several other reports. Bank of America restated a "buy" rating on shares of Astrazeneca in a research note on Wednesday, July 1st. Zacks Research downgraded Astrazeneca from a "hold" rating to a "strong sell" rating in a research note on Monday, September 14th. JPMorgan Chase & Co. reaffirmed a "buy" rating on shares of Astrazeneca in a research report on Tuesday, June 30th. The Goldman Sachs Group reissued a "buy" rating on shares of Astrazeneca in a report on Wednesday, July 1st. Finally, CICC Research assumed coverage on Astrazeneca in a research note on Sunday, August 23rd. They set an "outperform" rating and a $198.00 price target on the stock. Fourteen research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $206.67.

Astrazeneca Price Performance

Shares of AZN stock opened at $159.36 on Friday. The stock's 50-day moving average is $161.94 and its 200 day moving average is $177.01. Astrazeneca has a 1-year low of $153.41 and a 1-year high of $212.71. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.89 and a quick ratio of 0.67. The company has a market cap of $247.16 billion, a P/E ratio of 23.82, a PEG ratio of 1.35 and a beta of 0.27.

Astrazeneca (NYSE:AZN - Get Free Report) last released its quarterly earnings results on Monday, July 27th. The company reported $2.63 EPS for the quarter, beating the consensus estimate of $2.50 by $0.13. Astrazeneca had a net margin of 17.02% and a return on equity of 31.45%. The business had revenue of $15.38 billion during the quarter, compared to analyst estimates of $15.44 billion. During the same period in the prior year, the firm posted $2.17 earnings per share. The company's quarterly revenue was up 6.4% on a year-over-year basis. Research analysts predict that Astrazeneca will post 9.36 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Astrazeneca

A number of large investors have recently bought and sold shares of AZN. MV Capital Management Inc. purchased a new position in shares of Astrazeneca during the 4th quarter valued at about $26,000. Mascoma Wealth Management LLC purchased a new position in Astrazeneca during the first quarter valued at approximately $26,000. Roxbury Financial LLC acquired a new position in Astrazeneca in the second quarter valued at approximately $29,000. Reflection Asset Management purchased a new stake in Astrazeneca in the 4th quarter worth approximately $31,000. Finally, GK Wealth Management LLC purchased a new stake in Astrazeneca in the 3rd quarter worth approximately $31,000. 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.

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