Brokerages Set AstraZeneca PLC (NASDAQ:AZN) Target Price at $89.75

AstraZeneca PLC (NASDAQ:AZN) has received an average rating of “Buy” from the ten analysts that are covering the company, Marketbeat reports. One investment analyst has rated the stock with a hold recommendation, seven have issued a buy recommendation and two have given a strong buy recommendation to the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $89.75.

Several research firms recently weighed in on AZN. Deutsche Bank Aktiengesellschaft upgraded shares of AstraZeneca from a “sell” rating to a “hold” rating in a report on Wednesday, November 6th. Morgan Stanley began coverage on shares of AstraZeneca in a report on Wednesday, February 12th. They issued an “overweight” rating for the company. Finally, UBS Group upgraded shares of AstraZeneca from a “neutral” rating to a “buy” rating in a report on Thursday, February 13th.

AstraZeneca Stock Down 0.5 %

AstraZeneca stock opened at $74.20 on Friday. AstraZeneca has a fifty-two week low of $62.75 and a fifty-two week high of $87.68. 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 firm has a 50 day moving average price of $68.76 and a 200 day moving average price of $73.26. The company has a market capitalization of $230.10 billion, a PE ratio of 32.83, a price-to-earnings-growth ratio of 1.42 and a beta of 0.46.

AstraZeneca (NASDAQ:AZN) last posted its earnings results on Thursday, February 6th. The company reported $1.05 earnings per share 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%. Research analysts expect that AstraZeneca will post 4.51 earnings per share for the current year.

AstraZeneca Increases Dividend

The firm also recently declared 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 represents a yield of 2%. The ex-dividend date of this dividend is Friday, February 21st. This is a boost from AstraZeneca’s previous semi-annual dividend of $0.49. AstraZeneca’s dividend payout ratio (DPR) is currently 91.15%.

Hedge Funds Weigh In On AstraZeneca

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Creative Planning lifted its position in shares of AstraZeneca by 8.0% during the 3rd quarter. Creative Planning now owns 224,751 shares of the company’s stock worth $17,510,000 after purchasing an additional 16,692 shares during the last quarter. Swedbank AB lifted its position in shares of AstraZeneca by 1.3% during the 3rd quarter. Swedbank AB now owns 2,705,757 shares of the company’s stock worth $210,806,000 after purchasing an additional 35,000 shares during the last quarter. Asset Dedication LLC lifted its position in shares of AstraZeneca by 14.7% during the 3rd quarter. Asset Dedication LLC now owns 2,923 shares of the company’s stock worth $228,000 after purchasing an additional 374 shares during the last quarter. Good Life Advisors LLC purchased a new stake in shares of AstraZeneca during the 3rd quarter worth $239,000. Finally, Global Retirement Partners LLC lifted its position in shares of AstraZeneca by 3.7% during the 3rd quarter. Global Retirement Partners LLC now owns 15,945 shares of the company’s stock worth $1,242,000 after purchasing an additional 575 shares during 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.