AstraZeneca (NASDAQ:AZN) Shares Gap Up to $66.81

Shares of AstraZeneca PLC (NASDAQ:AZN - Get Free Report) gapped up prior to trading on Thursday . The stock had previously closed at $66.81, but opened at $68.99. AstraZeneca shares last traded at $68.63, with a volume of 965,521 shares.

Analyst Ratings Changes

A number of equities research analysts have issued reports on AZN shares. Deutsche Bank Aktiengesellschaft downgraded shares of AstraZeneca from a "hold" rating to a "sell" rating in a research report on Thursday, February 8th. HSBC assumed coverage on shares of AstraZeneca in a report on Monday, December 18th. They set a "buy" rating on the stock. Morgan Stanley assumed coverage on shares of AstraZeneca in a report on Tuesday, January 23rd. They issued an "overweight" rating on the stock. Finally, Jefferies Financial Group downgraded shares of AstraZeneca from a "buy" rating to a "hold" rating in a report on Wednesday, January 3rd. One research analyst has rated the stock with a sell rating, two have issued a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, AstraZeneca currently has an average rating of "Moderate Buy" and an average price target of $80.00.

AstraZeneca Stock Performance

The stock's fifty day moving average is $65.70 and its 200-day moving average is $65.81. The stock has a market cap of $208.78 billion, a price-to-earnings ratio of 35.07, a PEG ratio of 1.23 and a beta of 0.50. The company has a quick ratio of 0.64, a current ratio of 0.82 and a debt-to-equity ratio of 0.57.

AstraZeneca (NASDAQ:AZN - Get Free Report) last posted its quarterly earnings results on Thursday, February 8th. The company reported $0.73 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.74 by ($0.01). AstraZeneca had a return on equity of 30.19% and a net margin of 13.00%. The firm had revenue of $12.02 billion for the quarter, compared to the consensus estimate of $12.07 billion. During the same period last year, the company posted $0.69 earnings per share. The business's revenue was up 7.3% compared to the same quarter last year. On average, analysts forecast that AstraZeneca PLC will post 4.01 EPS for the current year.

AstraZeneca Increases Dividend

The business also recently disclosed a Semi-Annual dividend, which was paid on Monday, March 25th. Stockholders of record on Friday, February 23rd were given a $0.965 dividend. The ex-dividend date was Thursday, February 22nd. This is a positive change from AstraZeneca's previous Semi-Annual dividend of $0.47. This represents a dividend yield of 2.3%. AstraZeneca's dividend payout ratio is presently 100.52%.

Institutional Trading of AstraZeneca

Several hedge funds and other institutional investors have recently modified their holdings of AZN. Fairfield Bush & CO. bought a new stake in shares of AstraZeneca during the 1st quarter worth about $28,000. Panagora Asset Management Inc. boosted its holdings in AstraZeneca by 55.1% in the 1st quarter. Panagora Asset Management Inc. now owns 11,956 shares of the company's stock valued at $793,000 after purchasing an additional 4,249 shares during the period. BlackRock Inc. boosted its holdings in AstraZeneca by 22.0% in the 1st quarter. BlackRock Inc. now owns 7,466,492 shares of the company's stock valued at $495,328,000 after purchasing an additional 1,343,939 shares during the period. Great West Life Assurance Co. Can boosted its holdings in AstraZeneca by 102.7% in the 1st quarter. Great West Life Assurance Co. Can now owns 525 shares of the company's stock valued at $36,000 after purchasing an additional 266 shares during the period. Finally, Moors & Cabot Inc. boosted its holdings in AstraZeneca by 2.8% in the 1st quarter. Moors & Cabot Inc. now owns 10,841 shares of the company's stock valued at $719,000 after purchasing an additional 292 shares during the period. Institutional investors own 20.35% of the company's stock.

About AstraZeneca

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.