AstraZeneca (NASDAQ:AZN) Raised to Buy at UBS Group

UBS Group upgraded shares of AstraZeneca (NASDAQ:AZN) from a neutral rating to a buy rating in a research note published on Thursday morning, MarketBeat.com reports.

Several other equities research analysts also recently commented on the stock. Morgan Stanley initiated coverage on shares of AstraZeneca in a research report on Wednesday. They issued an “overweight” rating for the company. Deutsche Bank Aktiengesellschaft raised shares of AstraZeneca from a “sell” rating to a “hold” rating in a research note on Wednesday, November 6th. One investment analyst has rated the stock with a hold rating, seven have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, AstraZeneca currently has a consensus rating of “Buy” and a consensus target price of $89.75.

AstraZeneca Stock Up 0.0 %

Shares of AstraZeneca stock opened at $74.45 on Thursday. AstraZeneca has a 12-month low of $61.06 and a 12-month high of $87.68. The firm has a market capitalization of $230.88 billion, a PE ratio of 32.94, a price-to-earnings-growth ratio of 1.20 and a beta of 0.46. The company has a quick ratio of 0.71, a current ratio of 0.93 and a debt-to-equity ratio of 0.71. The stock’s fifty day moving average is $67.82 and its 200-day moving average is $73.49.

AstraZeneca (NASDAQ:AZN) last issued its quarterly earnings results on Thursday, February 6th. The company reported $1.05 earnings per share for the quarter, missing analysts’ consensus estimates of $1.10 by ($0.05). AstraZeneca had a return on equity of 32.55% and a net margin of 13.01%. Equities analysts anticipate that AstraZeneca will post 4.66 earnings per share for the current year.

AstraZeneca Increases Dividend

The business also recently announced a semi-annual dividend, which will be paid on Monday, March 24th. Shareholders of record on Friday, February 21st will be given a $1.03 dividend. This is an increase from AstraZeneca’s previous semi-annual dividend of $0.49. The ex-dividend date of this dividend is Friday, February 21st. This represents a yield of 2%. AstraZeneca’s dividend payout ratio is presently 43.36%.

Hedge Funds Weigh In On AstraZeneca

Institutional investors and hedge funds have recently modified their holdings of the stock. Martin Investment Management LLC grew its stake in AstraZeneca by 2.8% in the third quarter. Martin Investment Management LLC now owns 284,204 shares of the company’s stock valued at $22,571,000 after purchasing an additional 7,615 shares in the last quarter. Nordea Investment Management AB acquired a new stake in shares of AstraZeneca during the 4th quarter valued at about $754,000. Diversify Wealth Management LLC grew its stake in shares of AstraZeneca by 3.6% in the 4th quarter. Diversify Wealth Management LLC now owns 4,402 shares of the company’s stock valued at $295,000 after buying an additional 153 shares in the last quarter. Ameritas Advisory Services LLC increased its holdings in AstraZeneca by 25.9% in the fourth quarter. Ameritas Advisory Services LLC now owns 9,487 shares of the company’s stock worth $622,000 after buying an additional 1,949 shares during the last quarter. Finally, Integrated Advisors Network LLC raised its position in AstraZeneca by 46.6% during the third quarter. Integrated Advisors Network LLC now owns 43,610 shares of the company’s stock valued at $3,398,000 after acquiring an additional 13,860 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.