AstraZeneca (NASDAQ:AZN) Shares Gap Up to $71.20

AstraZeneca PLC (NASDAQ:AZN)’s share price gapped up before the market opened on Thursday . The stock had previously closed at $71.20, but opened at $74.99. AstraZeneca shares last traded at $75.19, with a volume of 4,436,841 shares trading hands.

Analyst Ratings Changes

Several equities analysts have recently commented on AZN shares. BMO Capital Markets raised their price target on AstraZeneca from $80.00 to $82.00 and gave the company an “outperform” rating in a research note on Friday. Morgan Stanley started coverage on AstraZeneca in a research note on Tuesday, January 23rd. They set an “overweight” rating on the stock. Jefferies Financial Group lowered AstraZeneca from a “buy” rating to a “hold” rating in a research note on Wednesday, January 3rd. Finally, Deutsche Bank Aktiengesellschaft upgraded AstraZeneca from a “sell” rating to a “hold” rating in a research note on Tuesday, April 16th. Three analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $81.00.

AstraZeneca Price Performance

The firm has a market cap of $233.06 billion, a PE ratio of 36.85, a price-to-earnings-growth ratio of 1.38 and a beta of 0.50. The company has a quick ratio of 0.64, a current ratio of 0.82 and a debt-to-equity ratio of 0.57. The stock has a 50 day moving average price of $67.27 and a two-hundred day moving average price of $66.07.

AstraZeneca (NASDAQ:AZN) last issued its quarterly earnings results on Thursday, February 8th. The company reported $0.73 earnings per share for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.01). AstraZeneca had a return on equity of 30.34% and a net margin of 13.30%. The business had revenue of $12.02 billion for the quarter, compared to analysts’ expectations of $12.07 billion. During the same quarter in the previous year, the firm posted $0.69 EPS. AstraZeneca’s revenue was up 7.3% on a year-over-year basis. As a group, equities analysts expect that AstraZeneca PLC will post 4.01 earnings per share for the current year.

AstraZeneca Increases Dividend

The company also recently announced a Semi-Annual dividend, which was paid on Monday, March 25th. Investors of record on Friday, February 23rd were issued a dividend of $0.965 per share. This is an increase from AstraZeneca’s previous Semi-Annual dividend of $0.47. The ex-dividend date was Thursday, February 22nd. This represents a dividend yield of 2.3%. AstraZeneca’s payout ratio is 94.61%.

Institutional Investors Weigh In On AstraZeneca

Institutional investors and hedge funds have recently modified their holdings of the company. Anchor Investment Management LLC acquired a new stake in shares of AstraZeneca during the fourth quarter worth about $26,000. Compagnie Lombard Odier SCmA acquired a new position in AstraZeneca in the fourth quarter valued at approximately $27,000. Able Wealth Management LLC acquired a new position in AstraZeneca in the fourth quarter valued at approximately $27,000. Nemes Rush Group LLC lifted its holdings in AstraZeneca by 375.6% in the third quarter. Nemes Rush Group LLC now owns 428 shares of the company’s stock valued at $29,000 after acquiring an additional 338 shares during the period. Finally, Pin Oak Investment Advisors Inc. lifted its holdings in AstraZeneca by 468.4% in the fourth quarter. Pin Oak Investment Advisors Inc. now owns 449 shares of the company’s stock valued at $30,000 after acquiring an additional 370 shares during the period. Institutional investors and hedge funds own 20.35% of the company’s stock.

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.