Astrazeneca PLC (AZN) Coverage Initiated by Analysts at BMO Capital Markets

BMO Capital Markets assumed coverage on shares of Astrazeneca PLC (NYSE:AZN) in a note issued to investors on Wednesday. The firm set an “outperform” rating on the stock.

AZN has been the topic of a number of other research reports. Piper Jaffray Companies restated a “buy” rating on shares of Astrazeneca PLC in a research note on Wednesday, August 9th. BidaskClub lowered shares of Astrazeneca PLC from a “hold” rating to a “sell” rating in a research note on Monday, July 24th. Cowen and Company reiterated a “hold” rating and issued a $34.00 price objective on shares of Astrazeneca PLC in a research note on Friday, July 28th. Morgan Stanley lowered shares of Astrazeneca PLC from an “overweight” rating to an “equal weight” rating in a research note on Friday, July 28th. Finally, Barclays PLC reiterated an “overweight” rating on shares of Astrazeneca PLC in a research note on Thursday, July 13th. Four equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and thirteen have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $32.97.

Shares of Astrazeneca PLC (NYSE:AZN) traded up 0.90% during midday trading on Wednesday, reaching $30.34. 9,305,002 shares of the company traded hands. Astrazeneca PLC has a 1-year low of $25.55 and a 1-year high of $35.60. The company has a market capitalization of $76.82 billion, a PE ratio of 19.90 and a beta of 0.74. The company has a 50 day moving average price of $30.39 and a 200 day moving average price of $31.61.

Astrazeneca PLC (NYSE:AZN) last issued its quarterly earnings results on Thursday, July 27th. The company reported $0.87 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.41 by $0.46. Astrazeneca PLC had a net margin of 17.80% and a return on equity of 35.90%. The business had revenue of $5.05 billion for the quarter, compared to analyst estimates of $5.04 billion. During the same quarter in the prior year, the business posted $0.83 EPS. Astrazeneca PLC’s revenue for the quarter was down 9.9% compared to the same quarter last year. On average, analysts expect that Astrazeneca PLC will post $1.86 earnings per share for the current year.

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Institutional investors and hedge funds have recently bought and sold shares of the business. PVG Asset Management Corp purchased a new position in Astrazeneca PLC during the first quarter valued at $8,242,000. Liberty Mutual Group Asset Management Inc. purchased a new position in Astrazeneca PLC during the first quarter valued at $890,000. Oppenheimer Asset Management Inc. purchased a new position in Astrazeneca PLC during the first quarter valued at $12,038,000. Stifel Financial Corp lifted its holdings in Astrazeneca PLC by 53.2% during the first quarter. Stifel Financial Corp now owns 360,447 shares of the company’s stock valued at $11,242,000 after purchasing an additional 125,093 shares in the last quarter. Finally, Parkside Financial Bank & Trust lifted its holdings in Astrazeneca PLC by 1.3% during the first quarter. Parkside Financial Bank & Trust now owns 7,040 shares of the company’s stock valued at $219,000 after purchasing an additional 90 shares in the last quarter. 14.18% of the stock is currently owned by institutional investors and hedge funds.

About Astrazeneca PLC

AstraZeneca PLC (AstraZeneca) is a biopharmaceutical company. The Company focuses on discovery and development of products, which are then manufactured, marketed and sold. The Company focuses on three main therapy areas: Oncology, Cardiovascular & Metabolic Disease (CVMD) and Respiratory, while selectively pursuing therapies in Autoimmunity, Infection and Neuroscience.

Analyst Recommendations for Astrazeneca PLC (NYSE:AZN)




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