Astrazeneca Plc (NYSE:AZN) Sees Significant Growth in Short Interest

Key Points

• Short interest in AstraZeneca rose 65.6% to 2.53 million shares as of July 15, though short positions still represent only about 0.2% of shares outstanding and 0.8 days of average trading volume.
• AstraZeneca shares recently traded at $169.77, below both their 50-day and 200-day moving averages. The stock’s 52-week range is $145.79 to $212.71, with a market capitalization of approximately $263.3 billion.
• The company exceeded quarterly earnings expectations, reporting $2.63 in earnings per share versus a $2.50 consensus estimate, while revenue increased 6.4% year over year. Analysts maintain a “Moderate Buy” consensus rating with an average target price of $211.

Astrazeneca Plc (NYSE:AZN - Get Free Report) saw a significant growth in short interest during the month of July. As of July 15th, there was short interest totaling 2,533,640 shares, a growth of 65.6% from the June 30th total of 1,530,055 shares. Based on an average daily volume of 3,192,074 shares, the days-to-cover ratio is currently 0.8 days. Approximately 0.2% of the shares of the company are sold short.

Astrazeneca Price Performance

Shares of AZN traded down $1.57 during trading hours on Friday, hitting $169.77. 1,669,941 shares of the company were exchanged, compared to its average volume of 2,554,340. The company has a quick ratio of 0.71, a current ratio of 0.89 and a debt-to-equity ratio of 0.47. Astrazeneca has a fifty-two week low of $145.79 and a fifty-two week high of $212.71. The company has a market cap of $263.30 billion, a price-to-earnings ratio of 25.38, a P/E/G ratio of 1.50 and a beta of 0.24. The firm's fifty day moving average is $179.37 and its 200 day moving average is $187.83.

Astrazeneca (NYSE:AZN - Get Free Report) last posted its quarterly earnings data on Monday, July 27th. The company reported $2.63 earnings per share for the quarter, topping the consensus estimate of $2.50 by $0.13. The business had revenue of $15.38 billion during the quarter, compared to analysts' expectations of $15.44 billion. Astrazeneca had a net margin of 17.02% and a return on equity of 31.45%. Astrazeneca's revenue was up 6.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.17 earnings per share. On average, equities analysts anticipate that Astrazeneca will post 10.22 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Triumph Capital Management bought a new position in shares of Astrazeneca in the 3rd quarter valued at $25,000. MV Capital Management Inc. bought a new stake in shares of Astrazeneca during the 4th quarter worth $26,000. Mascoma Wealth Management LLC bought a new stake in shares of Astrazeneca during the 1st quarter worth $26,000. Bangor Savings Bank boosted its stake in Astrazeneca by 102.7% in the fourth quarter. Bangor Savings Bank now owns 304 shares of the company's stock valued at $28,000 after buying an additional 154 shares in the last quarter. Finally, Roxbury Financial LLC bought a new position in Astrazeneca in the second quarter valued at about $29,000. 20.35% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on AZN shares. Wall Street Zen upgraded Astrazeneca from a "hold" rating to a "buy" rating in a research note on Saturday, May 2nd. Jefferies Financial Group reaffirmed a "buy" rating on shares of Astrazeneca in a report on Friday, June 26th. Barclays reiterated a "buy" rating on shares of Astrazeneca in a research report on Monday, June 1st. JPMorgan Chase & Co. reissued a "buy" rating on shares of Astrazeneca in a report on Tuesday, June 30th. Finally, DZ Bank raised shares of Astrazeneca from a "neutral" rating to a "buy" rating in a research report on Wednesday, April 29th. Twelve research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Astrazeneca presently has a consensus rating of "Moderate Buy" and a consensus target price of $211.00.

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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