Traders Purchase High Volume of Put Options on AstraZeneca (NASDAQ:AZN)

AstraZeneca PLC (NASDAQ:AZN - Get Free Report) was the target of unusually large options trading on Thursday. Stock investors purchased 26,506 put options on the company. This is an increase of 205% compared to the typical daily volume of 8,687 put options.

AstraZeneca Stock Performance

Shares of NASDAQ AZN traded up $1.34 during mid-day trading on Thursday, hitting $69.45. The stock had a trading volume of 5,985,006 shares, compared to its average volume of 6,170,458. AstraZeneca has a twelve month low of $60.47 and a twelve month high of $76.56. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.64 and a current ratio of 0.82. The firm has a market cap of $215.32 billion, a PE ratio of 36.32, a PEG ratio of 1.25 and a beta of 0.50. The company has a 50 day moving average of $65.77 and a two-hundred day moving average of $65.82.

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

AstraZeneca Increases Dividend

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

Analyst Ratings Changes

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

Institutional Investors Weigh In On AstraZeneca

Several hedge funds have recently modified their holdings of AZN. Fairfield Bush & CO. purchased a new stake in shares of AstraZeneca during the 2nd quarter worth about $25,000. Anchor Investment Management LLC purchased a new stake in shares of AstraZeneca during the 4th quarter worth about $26,000. ICA Group Wealth Management LLC purchased a new stake in shares of AstraZeneca during the 4th quarter worth about $26,000. Parkside Financial Bank & Trust boosted its stake in shares of AstraZeneca by 4,875.0% during the 1st quarter. Parkside Financial Bank & Trust now owns 398 shares of the company's stock worth $26,000 after acquiring an additional 390 shares in the last quarter. Finally, Compagnie Lombard Odier SCmA purchased a new stake in shares of AstraZeneca during the 4th quarter worth about $27,000. 20.35% of the stock is owned by hedge funds and other institutional investors.

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.