Astrazeneca (NYSE:AZN) Upgraded to Buy at Wall Street Zen

Key Points

• Wall Street Zen upgraded AstraZeneca from “hold” to “buy,” adding to a generally positive analyst outlook. The stock has a consensus “Moderate Buy” rating and an average price target of $206.67.
• AstraZeneca reported quarterly EPS of $2.63, beating estimates of $2.50, while revenue rose 6.4% year over year to $15.38 billion, slightly below expectations.
• AZN shares opened at $156.91, near their 52-week low of $153.41 and well below the $212.71 high; institutional investors own approximately 20.35% of the company.

Astrazeneca (NYSE:AZN - Get Free Report) was upgraded by equities researchers at Wall Street Zen from a "hold" rating to a "buy" rating in a research note issued on Saturday, Wall Street Zen reports.

AZN has been the subject of several other research reports. Deutsche Bank Aktiengesellschaft raised shares of Astrazeneca from a "sell" rating to a "hold" rating in a research note on Tuesday, September 15th. The Goldman Sachs Group reaffirmed a "buy" rating on shares of Astrazeneca in a research report on Wednesday, July 1st. Jefferies Financial Group reiterated a "buy" rating on shares of Astrazeneca in a report on Friday, June 26th. Zacks Research downgraded Astrazeneca from a "hold" rating to a "strong sell" rating in a research report on Monday, September 14th. Finally, JPMorgan Chase & Co. restated a "buy" rating on shares of Astrazeneca in a research note on Tuesday, June 30th. Fourteen equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $206.67.

Astrazeneca Price Performance

Shares of AZN stock opened at $156.91 on Friday. Astrazeneca has a 52-week low of $153.41 and a 52-week high of $212.71. The firm has a market capitalization of $243.35 billion, a P/E ratio of 23.45, a P/E/G ratio of 1.33 and a beta of 0.27. The stock has a 50 day moving average price of $163.22 and a 200 day moving average price of $178.11. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.67 and a current ratio of 0.89.

Astrazeneca (NYSE:AZN - Get Free Report) last issued its earnings results on Monday, July 27th. The company reported $2.63 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.50 by $0.13. Astrazeneca had a net margin of 17.02% and a return on equity of 31.45%. The firm had revenue of $15.38 billion during the quarter, compared to analyst estimates of $15.44 billion. During the same period in the previous year, the firm earned $2.17 earnings per share. The business's revenue was up 6.4% on a year-over-year basis. As a group, sell-side analysts predict that Astrazeneca will post 9.37 earnings per share for the current year.

Hedge Funds Weigh In On Astrazeneca

Large investors have recently added to or reduced their stakes in the company. Professional Advisory Services Inc. acquired a new stake in shares of Astrazeneca during the 2nd quarter worth approximately $30,241,000. Wealthcare Advisory Partners LLC purchased a new stake in Astrazeneca during the second quarter worth $2,296,000. Andra AP fonden grew its position in Astrazeneca by 122.9% during the second quarter. Andra AP fonden now owns 526,714 shares of the company's stock valued at $99,876,000 after buying an additional 290,412 shares during the period. Westport Asset Management Inc. acquired a new stake in Astrazeneca during the second quarter valued at $1,422,000. Finally, Madison Asset Management LLC purchased a new position in Astrazeneca in the second quarter valued at $4,041,000. 20.35% of the stock is currently owned by institutional investors.

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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