Astrazeneca (NYSE:AZN) Shares Gap Up - Here's What Happened

Key Points

• AstraZeneca shares gapped up pre-market from $183.40 to an open of $190.88 and were last trading around $190.35, up about 3.6% on roughly 1.03 million shares.
• Analyst sentiment is largely positive—nine Buys and one Sell give AZN a consensus rating of “Moderate Buy” with a consensus price target of $95.75, and firms like Morgan Stanley, Barclays, HSBC and Guggenheim recently reiterated favorable ratings.
• Company metrics include a market cap of about $294.5 billion, P/E of 28.99 and PEG of 1.41; AstraZeneca also paid a $1.595 dividend (ex‑dividend Feb 20) reported as a 156.0% yield with a 74.83% payout ratio.

Astrazeneca Plc (NYSE:AZN - Get Free Report)'s share price gapped up before the market opened on Friday . The stock had previously closed at $183.40, but opened at $190.88. Astrazeneca shares last traded at $190.3450, with a volume of 1,026,481 shares.

Wall Street Analysts Forecast Growth

AZN has been the topic of a number of analyst reports. Morgan Stanley reiterated an "overweight" rating and issued a $103.00 price objective on shares of Astrazeneca in a research report on Wednesday, December 3rd. Barclays reaffirmed an "overweight" rating on shares of Astrazeneca in a report on Tuesday, January 6th. HSBC reissued a "buy" rating and issued a $108.00 target price on shares of Astrazeneca in a report on Wednesday, December 10th. Wall Street Zen raised shares of Astrazeneca from a "hold" rating to a "buy" rating in a research note on Friday, March 20th. Finally, Guggenheim reiterated a "buy" rating on shares of Astrazeneca in a research note on Wednesday, December 3rd. Nine investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $95.75.

Astrazeneca Stock Up 3.6%

The company has a market cap of $294.54 billion, a price-to-earnings ratio of 28.99, a P/E/G ratio of 1.41 and a beta of 0.32. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.94 and a quick ratio of 0.72.

Astrazeneca Dividend Announcement

The firm also recently disclosed a dividend, which was paid on Monday, March 23rd. Investors of record on Friday, February 20th were paid a $1.595 dividend. This represents a yield of 156.0%. The ex-dividend date of this dividend was Friday, February 20th. Astrazeneca's dividend payout ratio is presently 74.83%.

Hedge Funds Weigh In On Astrazeneca

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in AZN. Old North State Trust LLC purchased a new stake in Astrazeneca in the 4th quarter valued at approximately $469,000. Purpose Unlimited Inc. acquired a new stake in shares of Astrazeneca during the fourth quarter valued at $12,897,000. World Investment Advisors increased its position in Astrazeneca by 108.9% during the 4th quarter. World Investment Advisors now owns 27,098 shares of the company's stock worth $4,756,000 after purchasing an additional 14,127 shares in the last quarter. Farmers National Bank acquired a new position in Astrazeneca in the 4th quarter valued at about $411,000. Finally, Meadowbrook Advisors Group LLC acquired a new position in Astrazeneca in the 4th quarter valued at about $648,000. Institutional investors and hedge funds own 20.35% of the company's stock.

Astrazeneca Company Profile

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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