Astrazeneca (NYSE:AZN) Stock Bumped Up to "Hold" by Zacks Research

Key Points

• Zacks Research upgraded AstraZeneca from “strong sell” to “hold,” while the broader analyst consensus remains “Moderate Buy,” with 15 buy ratings and four holds.
• AstraZeneca shares opened at $162.21, well below the average analyst price target of $206.67; the stock has traded between $153.41 and $212.71 over the past year.
• The company exceeded quarterly EPS expectations, reporting $2.63 versus the $2.50 consensus estimate, while revenue rose 6.4% year over year to $15.38 billion.

Astrazeneca (NYSE:AZN - Get Free Report) was upgraded by research analysts at Zacks Research from a "strong sell" rating to a "hold" rating in a research note issued to investors on Tuesday, Zacks reports.

A number of other brokerages have also issued reports on AZN. Deutsche Bank Aktiengesellschaft raised Astrazeneca from a "sell" rating to a "hold" rating in a research note on Tuesday, September 15th. JPMorgan Chase & Co. reissued a "buy" rating on shares of Astrazeneca in a report on Tuesday, June 30th. CICC Research initiated coverage on shares of Astrazeneca in a research note on Sunday, August 23rd. They issued an "outperform" rating and a $198.00 price objective for the company. The Goldman Sachs Group restated a "buy" rating on shares of Astrazeneca in a report on Wednesday, July 1st. Finally, Citigroup restated a "buy" rating on shares of Astrazeneca in a report on Tuesday, October 6th. Fifteen analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, Astrazeneca currently has an average rating of "Moderate Buy" and an average price target of $206.67.

Astrazeneca Stock Up 4.1%

AZN stock opened at $162.21 on Tuesday. The business's 50-day moving average price is $161.96 and its 200-day moving average price is $176.37. The stock has a market cap of $251.57 billion, a P/E ratio of 24.25, a PEG ratio of 1.32 and a beta of 0.27. Astrazeneca has a twelve month low of $153.41 and a twelve month high of $212.71. The company has a quick ratio of 0.67, a current ratio of 0.89 and a debt-to-equity ratio of 0.47.

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

Institutional Investors Weigh In On Astrazeneca

Several institutional investors have recently bought and sold shares of AZN. Triumph Capital Management lifted its position in shares of Astrazeneca by 32.6% in the third quarter. Triumph Capital Management now owns 252 shares of the company's stock valued at $41,000 after acquiring an additional 62 shares in the last quarter. Riversedge Advisors LLC boosted its stake in shares of Astrazeneca by 2.9% in the third quarter. Riversedge Advisors LLC now owns 2,347 shares of the company's stock worth $379,000 after acquiring an additional 67 shares during the last quarter. Veery Capital LLC boosted its stake in shares of Astrazeneca by 3.9% in the third quarter. Veery Capital LLC now owns 1,857 shares of the company's stock worth $300,000 after acquiring an additional 70 shares during the last quarter. Signal Advisors Wealth LLC increased its position in shares of Astrazeneca by 2.7% during the third quarter. Signal Advisors Wealth LLC now owns 2,778 shares of the company's stock worth $448,000 after purchasing an additional 72 shares in the last quarter. Finally, Rosenberg Matthew Hamilton increased its position in shares of Astrazeneca by 3.8% during the third quarter. Rosenberg Matthew Hamilton now owns 2,129 shares of the company's stock worth $344,000 after purchasing an additional 78 shares in the last quarter. 20.35% of the stock is currently owned by institutional investors and hedge funds.

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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