AstraZeneca (NASDAQ:AZN) Shares Gap Down - Should You Sell?

AstraZeneca PLC (NASDAQ:AZN - Get Free Report) shares gapped down prior to trading on Wednesday . The stock had previously closed at $64.90, but opened at $61.81. AstraZeneca shares last traded at $61.89, with a volume of 2,606,113 shares changing hands.

Analysts Set New Price Targets

AZN has been the topic of a number of analyst reports. UBS Group raised shares of AstraZeneca from a "neutral" rating to a "buy" rating in a research note on Thursday, February 13th. Morgan Stanley began coverage on shares of AstraZeneca in a report on Wednesday, February 12th. They set an "overweight" rating for the company. One research analyst has rated the stock with a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat, AstraZeneca currently has an average rating of "Buy" and a consensus price target of $89.75.

AstraZeneca Price Performance

The company has a quick ratio of 0.74, a current ratio of 0.93 and a debt-to-equity ratio of 0.65. The company has a market cap of $210.91 billion, a price-to-earnings ratio of 30.09, a PEG ratio of 1.42 and a beta of 0.49. The stock's 50-day simple moving average is $73.35 and its 200 day simple moving average is $70.83.

AstraZeneca (NASDAQ:AZN - Get Free Report) last issued its quarterly earnings data on Thursday, February 6th. The company reported $1.05 EPS for the quarter, missing the consensus estimate of $1.10 by ($0.05). AstraZeneca had a return on equity of 32.23% and a net margin of 13.01%. On average, equities research analysts anticipate that AstraZeneca PLC will post 4.51 EPS for the current fiscal year.

AstraZeneca Increases Dividend

The company also recently declared a semi-annual dividend, which was paid on Monday, March 24th. Stockholders of record on Friday, February 21st were given a dividend of $1.03 per share. This is a positive change from AstraZeneca's previous semi-annual dividend of $0.49. This represents a dividend yield of 2%. The ex-dividend date was Friday, February 21st. AstraZeneca's dividend payout ratio (DPR) is currently 91.15%.

Institutional Investors Weigh In On AstraZeneca

Several institutional investors and hedge funds have recently modified their holdings of AZN. Bank of America Corp DE grew its position in AstraZeneca by 189.3% in the 4th quarter. Bank of America Corp DE now owns 24,026,966 shares of the company's stock valued at $1,574,247,000 after acquiring an additional 15,722,197 shares in the last quarter. Marshall Wace LLP purchased a new position in shares of AstraZeneca in the fourth quarter valued at approximately $254,018,000. Boston Partners grew its holdings in shares of AstraZeneca by 9,985.6% in the fourth quarter. Boston Partners now owns 3,707,479 shares of the company's stock valued at $243,444,000 after purchasing an additional 3,670,719 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in AstraZeneca during the 4th quarter worth approximately $158,018,000. Finally, Alyeska Investment Group L.P. lifted its holdings in AstraZeneca by 220.8% during the 4th quarter. Alyeska Investment Group L.P. now owns 3,027,511 shares of the company's stock worth $198,363,000 after buying an additional 2,083,645 shares in the last quarter. Hedge funds and other 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.