Astrazeneca (NYSE:AZN) Releases Earnings Results, Beats Estimates By $0.53 EPS

Key Points

• AstraZeneca reported adjusted earnings of $2.63 per share, beating analyst estimates of $2.10 by $0.53. Quarterly revenue was $15.38 billion, slightly below the $15.44 billion consensus estimate.
• AZN shares opened at $168.68, with a market capitalization of approximately $261.6 billion and a 12-month trading range of $142.98 to $212.71.
• Analysts maintain a generally positive outlook, with a “Moderate Buy” consensus rating and an average price target of $211.00; 13 analysts rate the stock Buy, one Hold and one Sell.

Astrazeneca (NYSE:AZN - Get Free Report) announced its quarterly earnings data on Monday. The company reported $2.63 earnings per share for the quarter, topping the consensus estimate of $2.10 by $0.53, FiscalAI reports. The business had revenue of $15.38 billion during the quarter, compared to the consensus estimate of $15.44 billion. Astrazeneca had a return on equity of 30.86% and a net margin of 17.19%.

Astrazeneca Stock Performance

Shares of AZN stock opened at $168.68 on Monday. The business's 50-day moving average price is $180.55 and its 200-day moving average price is $188.07. Astrazeneca has a 12 month low of $142.98 and a 12 month high of $212.71. The firm has a market capitalization of $261.61 billion, a price-to-earnings ratio of 25.33, a PEG ratio of 1.38 and a beta of 0.24. The company has a current ratio of 0.91, a quick ratio of 0.71 and a debt-to-equity ratio of 0.52.

Analyst Ratings Changes

Several brokerages have commented on AZN. Bank of America reissued a "buy" rating on shares of Astrazeneca in a research note on Wednesday, July 1st. Sanford C. Bernstein restated a "buy" rating on shares of Astrazeneca in a research note on Monday, May 4th. Morgan Stanley reaffirmed an "overweight" rating on shares of Astrazeneca in a report on Wednesday, April 8th. Weiss Ratings downgraded shares of Astrazeneca from a "buy (b)" rating to a "buy (b-)" rating in a research note on Thursday, June 18th. Finally, HSBC lowered shares of Astrazeneca from a "buy" rating to a "hold" rating in a research report on Monday, July 13th. Thirteen equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Astrazeneca currently has a consensus rating of "Moderate Buy" and an average price target of $211.00.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in AZN. IHT Wealth Management LLC grew its holdings in Astrazeneca by 0.3% during the 4th quarter. IHT Wealth Management LLC now owns 17,527 shares of the company's stock worth $3,076,000 after acquiring an additional 54 shares during the last quarter. Visionary Wealth Advisors increased its position in Astrazeneca by 1.5% in the 4th quarter. Visionary Wealth Advisors now owns 4,197 shares of the company's stock valued at $737,000 after acquiring an additional 60 shares during the period. Vista Investment Management raised its stake in shares of Astrazeneca by 0.3% during the fourth quarter. Vista Investment Management now owns 21,215 shares of the company's stock valued at $3,723,000 after acquiring an additional 60 shares during the last quarter. Hoxton Planning & Management LLC lifted its holdings in shares of Astrazeneca by 3.3% during the fourth quarter. Hoxton Planning & Management LLC now owns 3,027 shares of the company's stock worth $531,000 after purchasing an additional 97 shares during the period. Finally, Hohimer Wealth Management LLC lifted its holdings in shares of Astrazeneca by 0.5% during the fourth quarter. Hohimer Wealth Management LLC now owns 21,147 shares of the company's stock worth $3,711,000 after purchasing an additional 109 shares during the period. Institutional investors and hedge funds own 20.35% of the company's stock.

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.

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