AstraZeneca (AZN) Sets New 1-Year High and Low After Earnings Beat

AstraZeneca (NYSE:AZN) hit a new 52-week high and low during trading on Monday following a stronger than expected earnings report. The company traded as low as $37.01 and last traded at $36.85, with a volume of 450468 shares. The stock had previously closed at $36.61.

The company reported $0.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.28 by $0.20. AstraZeneca had a return on equity of 30.12% and a net margin of 12.61%. The company had revenue of $5.18 billion during the quarter, compared to analysts’ expectations of $5.24 billion. During the same quarter in the previous year, the company posted $0.99 earnings per share. The business’s revenue was down 4.2% on a year-over-year basis.

Several brokerages recently issued reports on AZN. ValuEngine upgraded AstraZeneca from a “buy” rating to a “strong-buy” rating in a research note on Saturday, February 3rd. Leerink Swann boosted their price target on AstraZeneca from $36.00 to $38.00 and gave the company a “market perform” rating in a research note on Tuesday, February 6th. BMO Capital Markets set a $40.00 price target on AstraZeneca and gave the company a “buy” rating in a research note on Tuesday, February 20th. Zacks Investment Research upgraded AstraZeneca from a “sell” rating to a “hold” rating in a research note on Tuesday, March 20th. Finally, Jefferies Group upgraded AstraZeneca from a “hold” rating to a “buy” rating and boosted their price target for the company from $28.43 to $36.70 in a research note on Monday, March 19th. Three analysts have rated the stock with a sell rating, five have issued a hold rating and thirteen have issued a buy rating to the company’s stock. AstraZeneca has an average rating of “Hold” and an average target price of $38.12.

Institutional investors and hedge funds have recently made changes to their positions in the business. Pinnacle Wealth Planning Services Inc. acquired a new position in AstraZeneca during the fourth quarter valued at approximately $101,000. Delpha Capital Management LLC acquired a new position in AstraZeneca during the fourth quarter valued at approximately $152,000. Calton & Associates Inc. acquired a new position in AstraZeneca during the fourth quarter valued at approximately $181,000. Whittier Trust Co. raised its position in AstraZeneca by 420.0% during the first quarter. Whittier Trust Co. now owns 5,200 shares of the company’s stock valued at $182,000 after purchasing an additional 4,200 shares in the last quarter. Finally, Green Square Capital LLC acquired a new position in AstraZeneca during the fourth quarter valued at approximately $200,000. Institutional investors and hedge funds own 15.59% of the company’s stock.

The stock has a market cap of $92.02 billion, a P/E ratio of 8.60, a P/E/G ratio of 1.94 and a beta of 0.61. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.62 and a current ratio of 0.80.

AstraZeneca Company Profile

AstraZeneca PLC discovers, develops, and commercializes prescription medicines for the treatment of oncology, cardiovascular and metabolic, respiratory, gastrointestinal, neuroscience, and infection diseases worldwide. Its marketed products include Arimidex, Casodex/Cosudex, Calquence, Faslodex, Imfinzi, Iressa, Lynparza, Nolvadex, Tagrisso, and Zoladex for oncology diseases; Atacand1/Atacand HCT/Atacand Plus, Brilinta/Brilique, Crestor2, Plendil, Seloken/Toprol-XL4, Tenormin5, and Zestril6 for cardiovascular diseases; and Bydureon, Byetta, Farxiga/Forxiga, Kombiglyze XR, Komboglyze, Onglyza, Qtern, Symlin, Xigduo, and Xigduo XR for metabolic diseases.

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