AstraZeneca (NASDAQ:AZN) Shares Gap Down – Here’s What Happened

Shares of AstraZeneca PLC (NASDAQ:AZN) gapped down prior to trading on Wednesday . The stock had previously closed at $64.90, but opened at $61.81. AstraZeneca shares last traded at $61.89, with a volume of 2,606,113 shares.

Wall Street Analyst Weigh In

Several analysts recently weighed in on AZN shares. UBS Group upgraded shares of AstraZeneca from a “neutral” rating to a “buy” rating in a research report on Thursday, February 13th. Morgan Stanley started coverage on AstraZeneca in a report on Wednesday, February 12th. They set an “overweight” rating on the stock. One equities research analyst has rated the stock with a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Buy” and an average target price of $89.75.

AstraZeneca Trading Down 4.8 %

The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.74 and a current ratio of 0.93. The company has a market capitalization of $191.66 billion, a price-to-earnings ratio of 27.32, a price-to-earnings-growth ratio of 1.42 and a beta of 0.49. The business’s 50 day moving average price is $73.67 and its two-hundred day moving average price is $71.15.

AstraZeneca (NASDAQ:AZN) last issued its quarterly earnings results on Thursday, February 6th. The company reported $1.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.10 by ($0.05). AstraZeneca had a net margin of 13.01% and a return on equity of 32.23%. Equities analysts forecast that AstraZeneca PLC will post 4.51 earnings per share for the current fiscal year.

AstraZeneca Increases Dividend

The business also recently announced a semi-annual dividend, which was paid on Monday, March 24th. Investors of record on Friday, February 21st were issued a $1.03 dividend. This represents a dividend yield of 2%. This is a boost from AstraZeneca’s previous semi-annual dividend of $0.49. The ex-dividend date was Friday, February 21st. AstraZeneca’s payout ratio is presently 91.15%.

Institutional Trading of AstraZeneca

Hedge funds have recently modified their holdings of the business. Kovitz Investment Group Partners LLC grew its holdings in shares of AstraZeneca by 138.0% during the 3rd quarter. Kovitz Investment Group Partners LLC now owns 26,755 shares of the company’s stock valued at $2,084,000 after acquiring an additional 15,515 shares in the last quarter. EP Wealth Advisors LLC grew its stake in AstraZeneca by 19.8% in the third quarter. EP Wealth Advisors LLC now owns 20,436 shares of the company’s stock valued at $1,592,000 after purchasing an additional 3,384 shares in the last quarter. National Bank of Canada FI increased its position in AstraZeneca by 53.9% in the 3rd quarter. National Bank of Canada FI now owns 158,329 shares of the company’s stock worth $12,335,000 after purchasing an additional 55,473 shares during the last quarter. MML Investors Services LLC lifted its holdings in shares of AstraZeneca by 3.2% during the 3rd quarter. MML Investors Services LLC now owns 255,605 shares of the company’s stock valued at $19,914,000 after buying an additional 7,933 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd grew its stake in shares of AstraZeneca by 91.8% in the 3rd quarter. Y Intercept Hong Kong Ltd now owns 38,688 shares of the company’s stock valued at $3,014,000 after buying an additional 18,512 shares in the last quarter. Hedge funds and other institutional investors 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.