Short Interest in AstraZeneca PLC (NASDAQ:AZN) Increases By 14.9%

AstraZeneca PLC (NASDAQ:AZN - Get Free Report) was the recipient of a large increase in short interest during the month of October. As of October 31st, there was short interest totalling 4,630,000 shares, an increase of 14.9% from the October 15th total of 4,030,000 shares. Based on an average daily volume of 4,910,000 shares, the days-to-cover ratio is presently 0.9 days.

Wall Street Analysts Forecast Growth

Several brokerages have commented on AZN. Erste Group Bank raised shares of AstraZeneca from a "hold" rating to a "buy" rating in a research report on Wednesday, September 11th. TD Cowen boosted their target price on AstraZeneca from $90.00 to $95.00 and gave the company a "buy" rating in a research note on Monday, August 12th. Finally, Deutsche Bank Aktiengesellschaft upgraded AstraZeneca from a "sell" rating to a "hold" rating in a research note on Wednesday, November 6th. Two investment analysts have rated the stock with a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, AstraZeneca has an average rating of "Buy" and a consensus target price of $89.75.

AstraZeneca Stock Performance

Shares of NASDAQ AZN traded down $1.81 during mid-day trading on Friday, hitting $63.23. The company had a trading volume of 7,374,578 shares, compared to its average volume of 7,079,173. The company has a current ratio of 0.93, a quick ratio of 0.69 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 company has a market capitalization of $196.05 billion, a price-to-earnings ratio of 30.25, a P/E/G ratio of 1.20 and a beta of 0.47. The stock's 50-day moving average price is $75.03 and its 200-day moving average price is $78.22.

AstraZeneca (NASDAQ:AZN - Get Free Report) last posted its earnings results on Tuesday, November 12th. The company reported $1.04 earnings per share for the quarter, beating 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 business had revenue of $13.57 billion during the quarter, compared to analyst estimates of $13.08 billion. During the same quarter in the previous year, the firm earned $0.87 EPS. The company's quarterly revenue was up 18.0% compared to the same quarter last year. On average, sell-side analysts forecast that AstraZeneca will post 4.07 earnings per share for the current year.

Institutional Trading of AstraZeneca

Institutional investors and hedge funds have recently bought and sold shares of the company. State Board of Administration of Florida Retirement System purchased a new stake in shares of AstraZeneca in the 1st quarter valued at about $1,524,000. Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in AstraZeneca by 2.7% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 34,658 shares of the company's stock valued at $2,348,000 after purchasing an additional 914 shares during the last quarter. Kingsview Wealth Management LLC grew its stake in AstraZeneca by 102.2% in the 1st quarter. Kingsview Wealth Management LLC now owns 14,173 shares of the company's stock worth $960,000 after buying an additional 7,163 shares in the last quarter. TIAA Trust National Association increased its holdings in shares of AstraZeneca by 7.7% in the 1st quarter. TIAA Trust National Association now owns 235,599 shares of the company's stock worth $15,962,000 after buying an additional 16,898 shares during the last quarter. Finally, Jacobi Capital Management LLC raised its position in shares of AstraZeneca by 39.2% during the 1st quarter. Jacobi Capital Management LLC now owns 10,159 shares of the company's stock valued at $688,000 after buying an additional 2,860 shares in the last quarter. 20.35% of the stock is currently owned by hedge funds and other institutional investors.

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.