FY2024 EPS Estimates for AstraZeneca Increased by Analyst

AstraZeneca PLC (NASDAQ:AZN - Free Report) - Leerink Partnrs upped their FY2024 EPS estimates for AstraZeneca in a research report issued on Monday, November 18th. Leerink Partnrs analyst A. Berens now anticipates that the company will post earnings of $4.28 per share for the year, up from their prior estimate of $4.10. The consensus estimate for AstraZeneca's current full-year earnings is $4.07 per share. Leerink Partnrs also issued estimates for AstraZeneca's Q4 2024 earnings at $1.21 EPS.

Several other equities research analysts have also recently commented on the company. UBS Group upgraded AstraZeneca from a "sell" rating to a "neutral" rating in a research note on Wednesday. TD Cowen upped their target price on AstraZeneca from $90.00 to $95.00 and gave the stock a "buy" rating in a report on Monday, August 12th. Erste Group Bank raised shares of AstraZeneca from a "hold" rating to a "buy" rating in a research report on Wednesday, September 11th. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of AstraZeneca from a "sell" rating to a "hold" rating in a research note on Wednesday, November 6th. Three research 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 company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $89.75.

AstraZeneca Stock Down 1.2 %

AZN stock traded down $0.77 during trading hours on Wednesday, reaching $63.03. 2,841,656 shares of the stock were exchanged, compared to its average volume of 5,284,666. The company has a market cap of $195.43 billion, a price-to-earnings ratio of 30.53, a PEG ratio of 1.17 and a beta of 0.47. The firm's 50-day moving average is $74.34 and its 200-day moving average is $78.06. AstraZeneca has a 12 month low of $60.47 and a 12 month high of $87.68. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.93 and a quick ratio of 0.71.

AstraZeneca (NASDAQ:AZN - Get Free Report) last posted its earnings results on Tuesday, November 12th. The company reported $1.04 earnings per share (EPS) 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 firm had revenue of $13.57 billion during the quarter, compared to analysts' expectations of $13.08 billion. During the same period in the previous year, the firm earned $0.87 earnings per share. The company's revenue was up 18.0% on a year-over-year basis.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in AZN. State Board of Administration of Florida Retirement System purchased a new stake in AstraZeneca in the 1st quarter valued at $1,524,000. Lake Street Advisors Group LLC increased its stake in AstraZeneca by 32.8% in the 1st quarter. Lake Street Advisors Group LLC now owns 11,177 shares of the company's stock valued at $757,000 after buying an additional 2,763 shares during the last quarter. CANADA LIFE ASSURANCE Co lifted its position in shares of AstraZeneca by 40.6% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 506 shares of the company's stock worth $34,000 after buying an additional 146 shares in the last quarter. Crewe Advisors LLC bought a new position in shares of AstraZeneca in the first quarter valued at approximately $133,000. Finally, Advisors Asset Management Inc. increased its position in shares of AstraZeneca by 6.8% during the first quarter. Advisors Asset Management Inc. now owns 60,455 shares of the company's stock valued at $4,096,000 after acquiring an additional 3,831 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.