Brokerages Set AstraZeneca PLC (NASDAQ:AZN) Price Target at $89.00

Key Points

• AstraZeneca PLC has received a consensus recommendation of "Moderate Buy" from six research firms, with five analysts issuing buy ratings and one holding rate.
• The average 12-month price target for AstraZeneca shares is $89.00, with Berenberg Bank setting a higher objective of $97.00.
• The company reported revenue of $14.46 billion for the last quarter, surpassing analyst expectations and marking a 16.1% increase year-over-year.

AstraZeneca PLC (NASDAQ:AZN - Get Free Report) has been assigned an average rating of "Moderate Buy" from the five research firms that are presently covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $86.00.

A number of equities analysts recently weighed in on the stock. Berenberg Bank set a $97.00 price objective on shares of AstraZeneca in a research report on Wednesday, July 9th. BNP Paribas assumed coverage on shares of AstraZeneca in a research report on Tuesday, April 15th. They set an "outperform" rating and a $75.00 price objective for the company.

Hedge Funds Weigh In On AstraZeneca

Several hedge funds and other institutional investors have recently added to or reduced their stakes in AZN. Bank of America Corp DE raised its holdings in shares of AstraZeneca by 189.3% in the 4th quarter. Bank of America Corp DE now owns 24,026,966 shares of the company's stock valued at $1,574,247,000 after purchasing an additional 15,722,197 shares in the last quarter. Marshall Wace LLP acquired a new stake in shares of AstraZeneca in the 4th quarter valued at $254,018,000. Goldman Sachs Group Inc. raised its holdings in shares of AstraZeneca by 30.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 13,647,948 shares of the company's stock valued at $1,003,124,000 after purchasing an additional 3,224,251 shares in the last quarter. Valeo Financial Advisors LLC raised its holdings in shares of AstraZeneca by 14,797.3% in the 2nd quarter. Valeo Financial Advisors LLC now owns 2,322,638 shares of the company's stock valued at $162,306,000 after purchasing an additional 2,307,047 shares in the last quarter. Finally, Alyeska Investment Group L.P. raised its stake in AstraZeneca by 220.8% during the 4th quarter. Alyeska Investment Group L.P. now owns 3,027,511 shares of the company's stock worth $198,363,000 after acquiring an additional 2,083,645 shares in the last quarter. Hedge funds and other institutional investors own 20.35% of the company's stock.

AstraZeneca Trading Up 1.4%

Shares of NASDAQ AZN traded up $1.04 during midday trading on Friday, reaching $75.11. 1,829,068 shares of the stock were exchanged, compared to its average volume of 5,323,157. The company has a 50 day simple moving average of $71.90 and a 200 day simple moving average of $71.71. The stock has a market capitalization of $232.95 billion, a P/E ratio of 28.23, a PEG ratio of 1.35 and a beta of 0.36. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.67 and a current ratio of 0.86. AstraZeneca has a twelve month low of $61.24 and a twelve month high of $87.68.

AstraZeneca (NASDAQ:AZN - Get Free Report) last announced its quarterly earnings results on Tuesday, July 29th. The company reported $1.09 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $1.09. The business had revenue of $14.46 billion during the quarter, compared to the consensus estimate of $14.08 billion. AstraZeneca had a net margin of 14.68% and a return on equity of 32.84%. The business's revenue was up 16.1% compared to the same quarter last year. During the same quarter last year, the firm earned $1.24 EPS. As a group, equities analysts expect that AstraZeneca will post 4.51 earnings per share for the current year.

AstraZeneca Cuts Dividend

The firm also recently declared a semi-annual dividend, which will be paid on Monday, September 8th. Shareholders of record on Friday, August 8th will be given a $0.505 dividend. This represents a yield of 200.0%. The ex-dividend date of this dividend is Friday, August 8th. AstraZeneca's dividend payout ratio (DPR) is currently 37.97%.

AstraZeneca Company Profile

AstraZeneca PLC, a biopharmaceutical company, focuses on the discovery, development, manufacture, and commercialization of prescription medicines. The company's marketed products include Tagrisso, Imfinzi, Lynparza, Calquence, Enhertu, Orpathys, Truqap, Zoladex, Faslodex, Farxiga, Brilinta, Lokelma, Roxadustat, Andexxa, Crestor, Seloken, Onglyza, Bydureon, Fasenra, Breztri, Symbicort, Saphnelo, Tezspire, Pulmicort, Bevespi, and Daliresp for cardiovascular, renal, metabolism, and oncology.