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

UBS Group upgraded shares of AstraZeneca (NASDAQ:AZN - Free Report) from a sell rating to a neutral rating in a research note issued to investors on Wednesday, Marketbeat reports.

AZN has been the subject of several other reports. Deutsche Bank Aktiengesellschaft raised AstraZeneca from a "sell" rating to a "hold" rating in a research note on Wednesday, November 6th. TD Cowen raised their price objective on AstraZeneca from $90.00 to $95.00 and gave the stock a "buy" rating in a report on Monday, August 12th. Finally, Erste Group Bank raised AstraZeneca from a "hold" rating to a "buy" rating in a research report on Wednesday, September 11th. Three research analysts have rated the stock with a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, AstraZeneca presently has a consensus rating of "Moderate Buy" and an average price target of $89.75.

AstraZeneca Stock Down 0.9 %

NASDAQ AZN traded down $0.60 during trading on Wednesday, reaching $63.20. 6,228,986 shares of the company's stock were exchanged, compared to its average volume of 5,299,721. The stock has a market cap of $195.96 billion, a P/E ratio of 30.53, a price-to-earnings-growth ratio of 1.17 and a beta of 0.47. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.71 and a current ratio of 0.93. The company has a 50 day moving average price of $74.34 and a two-hundred day moving average price of $78.06. AstraZeneca has a 1 year low of $60.47 and a 1 year high of $87.68.

AstraZeneca (NASDAQ:AZN - Get Free Report) last announced its quarterly earnings results on Tuesday, November 12th. The company reported $1.04 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.01 by $0.03. AstraZeneca had a return on equity of 30.01% and a net margin of 12.68%. The company had revenue of $13.57 billion during the quarter, compared to the consensus estimate of $13.08 billion. During the same period in the previous year, the business earned $0.87 EPS. AstraZeneca's revenue for the quarter was up 18.0% on a year-over-year basis. On average, equities research analysts anticipate that AstraZeneca will post 4.07 EPS for the current fiscal year.

Hedge Funds Weigh In On AstraZeneca

Hedge funds and other institutional investors have recently made changes to their positions in the business. Price T Rowe Associates Inc. MD grew its holdings 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 valued at $4,151,177,000 after acquiring an additional 9,002,450 shares in the last quarter. FMR LLC raised its position in AstraZeneca by 1.1% in the third quarter. FMR LLC now owns 23,117,447 shares of the company's stock worth $1,801,080,000 after purchasing an additional 258,477 shares in the last quarter. Fisher Asset Management LLC grew its stake in AstraZeneca by 5.3% during the third quarter. Fisher Asset Management LLC now owns 10,480,160 shares of the company's stock worth $816,509,000 after buying an additional 524,175 shares during the last quarter. Capital World Investors grew its stake in AstraZeneca by 0.3% during the first quarter. Capital World Investors now owns 9,365,676 shares of the company's stock worth $634,525,000 after buying an additional 29,497 shares during the last quarter. Finally, Envestnet Asset Management Inc. grew its stake in shares of AstraZeneca by 16.7% during the second quarter. Envestnet Asset Management Inc. now owns 3,417,933 shares of the company's stock valued at $266,565,000 after purchasing an additional 488,644 shares during the last quarter. 20.35% of the stock is currently owned by institutional investors and hedge funds.

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.