AstraZeneca (NASDAQ:AZN) Upgraded by UBS Group to “Neutral” Rating

UBS Group upgraded shares of AstraZeneca (NASDAQ:AZN) from a sell rating to a neutral rating in a research report report published on Wednesday, Marketbeat Ratings reports.

A number of other brokerages also recently weighed in on AZN. TD Cowen increased their price target on shares of AstraZeneca from $90.00 to $95.00 and gave the company a “buy” rating in a research report on Monday, August 12th. Erste Group Bank raised shares of AstraZeneca from a “hold” rating to a “buy” rating in a report on Wednesday, September 11th. Finally, Deutsche Bank Aktiengesellschaft raised AstraZeneca from a “sell” rating to a “hold” rating in a research note on Wednesday, November 6th. Three analysts have rated the stock with a hold rating, seven have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $89.75.

AstraZeneca Stock Performance

Shares of NASDAQ:AZN opened at $65.63 on Wednesday. The stock has a market capitalization of $203.49 billion, a P/E ratio of 31.40, a P/E/G ratio of 1.18 and a beta of 0.47. The company has a current ratio of 0.93, a quick ratio of 0.71 and a debt-to-equity ratio of 0.71. AstraZeneca has a 1-year low of $60.47 and a 1-year high of $87.68. The business has a 50-day moving average price of $73.44 and a two-hundred day moving average price of $77.80.

AstraZeneca (NASDAQ:AZN) last issued its earnings results on Tuesday, November 12th. The company reported $1.04 EPS for the quarter, beating the consensus estimate of $1.01 by $0.03. AstraZeneca had a net margin of 12.68% and a return on equity of 30.01%. The company had revenue of $13.57 billion during the quarter, compared to analysts’ expectations of $13.08 billion. During the same quarter in the previous year, the company posted $0.87 EPS. The business’s revenue for the quarter was up 18.0% compared to the same quarter last year. Equities analysts predict that AstraZeneca will post 4.1 earnings per share for the current year.

Institutional Investors Weigh In On AstraZeneca

A number of hedge funds and other institutional investors have recently bought and sold shares of AZN. Price T Rowe Associates Inc. MD boosted its stake in shares of AstraZeneca by 17.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 61,271,974 shares of the company’s stock worth $4,151,177,000 after buying an additional 9,002,450 shares during the last quarter. Swedbank AB acquired a new position in AstraZeneca during the first quarter valued at approximately $186,127,000. Manning & Napier Advisors LLC bought a new position in AstraZeneca in the second quarter valued at approximately $188,476,000. Bank of Montreal Can increased its position in shares of AstraZeneca by 109.6% during the 3rd quarter. Bank of Montreal Can now owns 3,071,333 shares of the company’s stock worth $238,397,000 after purchasing an additional 1,605,758 shares during the last quarter. Finally, Hsbc Holdings PLC increased its position in shares of AstraZeneca by 750.3% during the 2nd quarter. Hsbc Holdings PLC now owns 1,283,274 shares of the company’s stock worth $100,523,000 after purchasing an additional 1,132,362 shares during the last quarter. Institutional investors and hedge funds 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.