AstraZeneca (NASDAQ:AZN) Shares Gap Up – Time to Buy?

Shares of AstraZeneca PLC (NASDAQ:AZN) gapped up prior to trading on Thursday . The stock had previously closed at $72.22, but opened at $75.62. AstraZeneca shares last traded at $74.70, with a volume of 1,320,608 shares traded.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. UBS Group raised shares of AstraZeneca from a “neutral” rating to a “buy” rating in a research note on Thursday, February 13th. Morgan Stanley began coverage on AstraZeneca in a research report on Wednesday, February 12th. They set an “overweight” rating for the company. One research analyst has rated the stock with a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, AstraZeneca has an average rating of “Buy” and a consensus price target of $89.75.

AstraZeneca Stock Down 7.4 %

The business’s 50 day simple moving average is $73.96 and its 200 day simple moving average is $71.48. The company has a current ratio of 0.93, a quick ratio of 0.74 and a debt-to-equity ratio of 0.65. The firm has a market capitalization of $212.31 billion, a PE ratio of 30.29, a PEG ratio of 1.42 and a beta of 0.49.

AstraZeneca (NASDAQ:AZN) last posted its quarterly earnings data on Thursday, February 6th. The company reported $1.05 earnings per share (EPS) 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%. On average, equities research analysts forecast that AstraZeneca PLC will post 4.51 earnings per share for the current year.

AstraZeneca Increases Dividend

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

Hedge Funds Weigh In On AstraZeneca

Large investors have recently bought and sold shares of the business. Moody National Bank Trust Division boosted its stake in shares of AstraZeneca by 29.2% during the first quarter. Moody National Bank Trust Division now owns 5,888 shares of the company’s stock valued at $433,000 after purchasing an additional 1,332 shares during the period. Versant Capital Management Inc boosted its position in AstraZeneca by 1,166.5% in the 1st quarter. Versant Capital Management Inc now owns 9,296 shares of the company’s stock valued at $683,000 after buying an additional 8,562 shares during the period. First Hawaiian Bank grew its stake in AstraZeneca by 6.9% in the 1st quarter. First Hawaiian Bank now owns 24,086 shares of the company’s stock worth $1,770,000 after acquiring an additional 1,557 shares in the last quarter. Boston Common Asset Management LLC increased its position in shares of AstraZeneca by 30.1% during the first quarter. Boston Common Asset Management LLC now owns 71,718 shares of the company’s stock worth $5,271,000 after acquiring an additional 16,608 shares during the period. Finally, Marotta Asset Management raised its stake in shares of AstraZeneca by 3.3% during the first quarter. Marotta Asset Management now owns 12,998 shares of the company’s stock valued at $1,013,000 after acquiring an additional 412 shares in 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.