Pareto Securities Upgrades Astrazeneca PLC (AZN) to “Hold”

Pareto Securities upgraded shares of Astrazeneca PLC (NYSE:AZN) from a sell rating to a hold rating in a research note issued to investors on Tuesday, August 1st, The Fly reports.

Several other equities research analysts have also commented on AZN. UBS AG lowered Astrazeneca PLC from a buy rating to a neutral rating and lowered their price objective for the stock from $35.44 to $25.55 in a research report on Wednesday, April 5th. Cowen and Company reiterated a hold rating and set a $34.00 target price on shares of Astrazeneca PLC in a research report on Friday, July 28th. Jefferies Group LLC reiterated a hold rating on shares of Astrazeneca PLC in a research report on Monday, April 10th. HSBC Holdings plc downgraded Astrazeneca PLC from a hold rating to a reduce rating in a research note on Friday, April 7th. Finally, BidaskClub downgraded Astrazeneca PLC from a buy rating to a hold rating in a research note on Tuesday, July 11th. Four investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and eleven have issued a buy rating to the stock. The stock presently has an average rating of Hold and a consensus price target of $33.39.

Astrazeneca PLC (NYSE:AZN) opened at 29.12 on Tuesday. The company has a market capitalization of $73.73 billion, a PE ratio of 19.10 and a beta of 0.74. The firm has a 50-day moving average of $31.67 and a 200 day moving average of $31.48. Astrazeneca PLC has a 12-month low of $25.55 and a 12-month high of $35.60.

Astrazeneca PLC (NYSE:AZN) last issued its quarterly earnings results on Thursday, July 27th. The company reported $0.87 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.41 by $0.46. Astrazeneca PLC had a net margin of 17.80% and a return on equity of 35.90%. The company had revenue of $5.05 billion for the quarter, compared to the consensus estimate of $5.04 billion. During the same quarter in the prior year, the company earned $0.83 EPS. Astrazeneca PLC’s quarterly revenue was down 9.9% on a year-over-year basis. Analysts forecast that Astrazeneca PLC will post $1.86 EPS for the current fiscal year.

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The business also recently announced a None dividend, which will be paid on Monday, September 11th. Stockholders of record on Friday, August 11th will be paid a $0.44 dividend. The ex-dividend date of this dividend is Wednesday, August 9th. This represents a dividend yield of 2.98%. Astrazeneca PLC’s dividend payout ratio (DPR) is currently 44.92%.

Large investors have recently bought and sold shares of the stock. Tompkins Financial Corp raised its stake in Astrazeneca PLC by 67.0% in the first quarter. Tompkins Financial Corp now owns 3,545 shares of the company’s stock worth $100,000 after buying an additional 1,422 shares during the period. Meeder Asset Management Inc. acquired a new position in shares of Astrazeneca PLC during the second quarter worth approximately $105,000. Salem Investment Counselors Inc. acquired a new position in shares of Astrazeneca PLC during the first quarter worth approximately $107,000. Tower Research Capital LLC TRC increased its position in shares of Astrazeneca PLC by 3,782.0% in the first quarter. Tower Research Capital LLC TRC now owns 3,882 shares of the company’s stock worth $121,000 after buying an additional 3,782 shares in the last quarter. Finally, WFG Advisors LP increased its position in shares of Astrazeneca PLC by 36.0% in the second quarter. WFG Advisors LP now owns 3,716 shares of the company’s stock worth $127,000 after buying an additional 984 shares in the last quarter. Institutional investors and hedge funds own 14.30% of the company’s stock.

Astrazeneca PLC Company Profile

AstraZeneca PLC (AstraZeneca) is a biopharmaceutical company. The Company focuses on discovery and development of products, which are then manufactured, marketed and sold. The Company focuses on three main therapy areas: Oncology, Cardiovascular & Metabolic Disease (CVMD) and Respiratory, while selectively pursuing therapies in Autoimmunity, Infection and Neuroscience.