AstraZeneca (NASDAQ:AZN) Coverage Initiated by Analysts at BNP Paribas

BNP Paribas started coverage on shares of AstraZeneca (NASDAQ:AZN) in a report published on Tuesday morning, MarketBeat reports. The brokerage issued an outperform rating and a $75.00 price objective on the stock.

Several other brokerages have also recently issued reports on AZN. Morgan Stanley started coverage on shares of AstraZeneca in a research report on Wednesday, February 12th. They set an “overweight” rating on the stock. UBS Group upgraded shares of AstraZeneca from a “neutral” rating to a “buy” rating in a report on Thursday, February 13th. One investment analyst has rated the stock with a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, AstraZeneca currently has a consensus rating of “Buy” and an average target price of $86.80.

AstraZeneca Stock Down 0.2 %

AstraZeneca stock opened at $67.87 on Tuesday. The company has a market capitalization of $210.48 billion, a PE ratio of 30.03, a price-to-earnings-growth ratio of 1.42 and a beta of 0.49. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.74 and a current ratio of 0.93. AstraZeneca has a fifty-two week low of $61.24 and a fifty-two week high of $87.68. The firm has a 50 day moving average price of $73.20 and a 200 day moving average price of $70.75.

AstraZeneca (NASDAQ:AZN) last issued its quarterly earnings data 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 net margin of 13.01% and a return on equity of 32.23%. Research analysts expect that AstraZeneca will post 4.51 earnings per share for the current year.

AstraZeneca Increases Dividend

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

Institutional Investors Weigh In On AstraZeneca

Hedge funds and other institutional investors have recently modified their holdings of the company. Banque Transatlantique SA purchased a new position in AstraZeneca in the fourth quarter valued at $26,000. Confluence Investment Management LLC acquired a new position in shares of AstraZeneca during the 1st quarter worth about $27,000. Mascagni Wealth Management Inc. purchased a new position in shares of AstraZeneca in the 4th quarter valued at about $29,000. Albion Financial Group UT raised its position in shares of AstraZeneca by 68.9% during the 4th quarter. Albion Financial Group UT now owns 608 shares of the company’s stock worth $40,000 after acquiring an additional 248 shares in the last quarter. Finally, CoreCap Advisors LLC lifted its stake in AstraZeneca by 31.8% during the fourth quarter. CoreCap Advisors LLC now owns 642 shares of the company’s stock worth $42,000 after purchasing an additional 155 shares during the last quarter. 20.35% of the stock is currently owned by institutional investors and hedge funds.

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.