Short Interest in AstraZeneca PLC (NASDAQ:AZN) Drops By 26.9%

AstraZeneca PLC (NASDAQ:AZN - Get Free Report) was the target of a large decline in short interest in March. As of March 31st, there was short interest totalling 7,660,000 shares, a decline of 26.9% from the March 15th total of 10,480,000 shares. Based on an average daily volume of 6,150,000 shares, the days-to-cover ratio is currently 1.2 days.

Analyst Ratings Changes

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

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Fairfield Bush & CO. bought a new position in AstraZeneca in the 2nd quarter worth about $25,000. Anchor Investment Management LLC purchased a new position in shares of AstraZeneca in the 4th quarter valued at approximately $26,000. ICA Group Wealth Management LLC purchased a new position in AstraZeneca during the 4th quarter valued at about $26,000. Parkside Financial Bank & Trust increased its position in AstraZeneca by 4,875.0% during the 1st quarter. Parkside Financial Bank & Trust now owns 398 shares of the company's stock valued at $26,000 after buying an additional 390 shares in the last quarter. Finally, Compagnie Lombard Odier SCmA bought a new position in AstraZeneca in the 4th quarter worth about $27,000. Hedge funds and other institutional investors own 20.35% of the company's stock.

AstraZeneca Stock Performance

AZN stock traded down $0.52 during midday trading on Friday, hitting $68.93. The company's stock had a trading volume of 9,121,239 shares, compared to its average volume of 6,198,971. The stock has a market cap of $213.71 billion, a price-to-earnings ratio of 35.90, a PEG ratio of 1.25 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. The stock's 50-day moving average price is $65.89 and its 200 day moving average price is $65.85. AstraZeneca has a 1 year low of $60.47 and a 1 year high of $76.56.

AstraZeneca (NASDAQ:AZN - Get Free Report) last issued its quarterly earnings results on Thursday, February 8th. The company reported $0.73 earnings per share for the quarter, missing analysts' consensus estimates of $0.74 by ($0.01). AstraZeneca had a return on equity of 30.19% and a net margin of 13.00%. The company had revenue of $12.02 billion during the quarter, compared to analysts' expectations of $12.07 billion. During the same period last year, the firm posted $0.69 earnings per share. AstraZeneca's quarterly revenue was up 7.3% compared to the same quarter last year. On average, equities analysts forecast that AstraZeneca will post 4.02 EPS for the current year.

AstraZeneca Increases Dividend

The company also recently announced a Semi-Annual dividend, which was paid on Monday, March 25th. Shareholders of record on Friday, February 23rd were given a $0.965 dividend. This is an increase from AstraZeneca's previous Semi-Annual dividend of $0.47. This represents a yield of 2.3%. The ex-dividend date was Thursday, February 22nd. AstraZeneca's dividend payout ratio (DPR) is currently 100.52%.

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.