BMO Capital Markets Raises AstraZeneca (NASDAQ:AZN) Price Target to $82.00

AstraZeneca (NASDAQ:AZN) had its target price upped by BMO Capital Markets from $80.00 to $82.00 in a research report sent to investors on Friday, Benzinga reports. They currently have an outperform rating on the stock.

Other equities research analysts have also issued research reports about the stock. Jefferies Financial Group lowered shares of AstraZeneca from a buy rating to a hold rating in a research note on Wednesday, January 3rd. Deutsche Bank Aktiengesellschaft raised AstraZeneca from a sell rating to a hold rating in a report on Tuesday, April 16th. Finally, Morgan Stanley began coverage on AstraZeneca in a research note on Tuesday, January 23rd. They set an overweight rating on the stock. Three research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and a consensus price target of $81.00.

AstraZeneca Price Performance

Shares of AZN opened at $75.48 on Friday. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.89 and a quick ratio of 0.70. AstraZeneca has a 1-year low of $60.47 and a 1-year high of $76.58. The firm has a fifty day moving average price of $67.49 and a 200 day moving average price of $66.10. The stock has a market cap of $234.02 billion, a PE ratio of 37.00, a price-to-earnings-growth ratio of 1.37 and a beta of 0.50.

AstraZeneca (NASDAQ:AZN) last announced its quarterly earnings data on Thursday, February 8th. The company reported $0.73 earnings per share for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.01). AstraZeneca had a net margin of 13.30% and a return on equity of 30.42%. The business had revenue of $12.02 billion during the quarter, compared to analysts’ expectations of $12.07 billion. During the same period in the prior year, the firm posted $0.69 EPS. AstraZeneca’s revenue for the quarter was up 7.3% compared to the same quarter last year. As a group, sell-side analysts anticipate that AstraZeneca will post 4.01 EPS for the current year.

AstraZeneca Increases Dividend

The business also recently announced a Semi-Annual dividend, which was paid on Monday, March 25th. Shareholders of record on Friday, February 23rd were paid a $0.965 dividend. This is a positive change from AstraZeneca’s previous Semi-Annual dividend of $0.47. The ex-dividend date was Thursday, February 22nd. This represents a yield of 2.3%. AstraZeneca’s dividend payout ratio is presently 94.61%.

Institutional Investors Weigh In On AstraZeneca

Several institutional investors have recently added to or reduced their stakes in AZN. Commonwealth Equity Services LLC grew its holdings in shares of AstraZeneca by 10.8% during the first quarter. Commonwealth Equity Services LLC now owns 203,374 shares of the company’s stock worth $13,779,000 after buying an additional 19,802 shares in the last quarter. Seascape Capital Management boosted its holdings in AstraZeneca by 1.6% during the first quarter. Seascape Capital Management now owns 42,655 shares of the company’s stock worth $2,890,000 after purchasing an additional 685 shares during the last quarter. Monte Financial Group LLC bought a new position in AstraZeneca in the first quarter valued at $1,325,000. China Universal Asset Management Co. Ltd. increased its stake in AstraZeneca by 74.9% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 114,524 shares of the company’s stock valued at $7,759,000 after buying an additional 49,049 shares during the last quarter. Finally, Pinnacle Associates Ltd. lifted its position in AstraZeneca by 11.0% during the 1st quarter. Pinnacle Associates Ltd. now owns 29,132 shares of the company’s stock worth $1,974,000 after buying an additional 2,886 shares in the last quarter. 20.35% of the stock is owned by institutional investors.

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.