Astrazeneca (NYSE:AZN) Cut to Hold at Wall Street Zen

Wall Street Zen cut shares of Astrazeneca (NYSE:AZN) from a buy rating to a hold rating in a research report report published on Saturday.

A number of other equities analysts also recently commented on AZN. DZ Bank raised shares of Astrazeneca from a “neutral” rating to a “buy” rating in a research note on Wednesday, April 29th. Barclays reaffirmed a “buy” rating on shares of Astrazeneca in a research report on Monday, June 1st. Morgan Stanley reiterated an “overweight” rating on shares of Astrazeneca in a report on Wednesday, April 8th. Weiss Ratings downgraded Astrazeneca from a “buy (b-)” rating to a “hold (c+)” rating in a report on Tuesday, July 28th. Finally, Jefferies Financial Group reissued a “buy” rating on shares of Astrazeneca in a research report on Friday, June 26th. Twelve analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Astrazeneca has an average rating of “Moderate Buy” and an average target price of $211.00.

Astrazeneca Trading Down 6.7%

NYSE:AZN opened at $158.21 on Friday. Astrazeneca has a one year low of $145.79 and a one year high of $212.71. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.67 and a current ratio of 0.89. The firm has a market cap of $245.37 billion, a P/E ratio of 23.65, a P/E/G ratio of 1.47 and a beta of 0.26. The firm has a 50-day simple moving average of $178.44 and a 200-day simple moving average of $187.69.

Astrazeneca (NYSE:AZN) last announced its quarterly earnings results on Monday, July 27th. The company reported $2.63 earnings per share for the quarter, topping the consensus estimate of $2.50 by $0.13. Astrazeneca had a net margin of 17.02% and a return on equity of 31.45%. The firm had revenue of $15.38 billion during the quarter, compared to analysts’ expectations of $15.44 billion. During the same quarter in the prior year, the company earned $2.17 EPS. The company’s revenue was up 6.4% compared to the same quarter last year. Equities analysts anticipate that Astrazeneca will post 10.22 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Fisher Asset Management LLC grew its holdings in Astrazeneca by 2.1% in the fourth quarter. Fisher Asset Management LLC now owns 21,601,433 shares of the company’s stock worth $3,791,051,000 after purchasing an additional 438,709 shares during the last quarter. Franklin Resources Inc. increased its position in shares of Astrazeneca by 2.3% during the fourth quarter. Franklin Resources Inc. now owns 20,157,744 shares of the company’s stock worth $3,537,684,000 after purchasing an additional 445,014 shares in the last quarter. Amundi lifted its holdings in shares of Astrazeneca by 146,574.4% during the 1st quarter. Amundi now owns 15,386,149 shares of the company’s stock valued at $3,034,456,000 after purchasing an additional 15,375,659 shares during the last quarter. Morgan Stanley lifted its holdings in shares of Astrazeneca by 3.2% during the 4th quarter. Morgan Stanley now owns 13,878,726 shares of the company’s stock valued at $2,435,716,000 after purchasing an additional 432,939 shares during the last quarter. Finally, Janus Henderson Group PLC boosted its position in shares of Astrazeneca by 889.9% in the 1st quarter. Janus Henderson Group PLC now owns 11,949,424 shares of the company’s stock worth $2,319,947,000 after purchasing an additional 10,742,268 shares in the last quarter. Institutional investors own 20.35% of the company’s stock.

Trending Headlines about Astrazeneca

Here are the key news stories impacting Astrazeneca this week:

• Positive Sentiment: A combination could create significant cost savings and operating synergies. One healthcare analyst said that aggressively reducing overlapping expenses could be the primary financial rationale for the transaction. Top Healthcare Analyst: A $400 Billion AstraZeneca-Bristol Myers Deal Could “Cut Costs in a Big Way”
• Positive Sentiment: AstraZeneca was ranked among the stronger-growing large pharmaceutical companies, while Bristol Myers has lagged its peers. AstraZeneca’s growth could potentially improve the combined company’s outlook if management executes successfully. AstraZeneca tops pharma growth rankings while Bristol Myers trails amid merger talks
• Neutral Sentiment: The discussions are preliminary, and analysts said a transaction may be unlikely in the near term. Neither company has announced a definitive agreement, leaving the deal’s structure, price and timing uncertain. Potential AstraZeneca purchase of Bristol-Myers unlikely for now – analyst
• Negative Sentiment: Investors reacted negatively because the reported acquisition would be one of the largest pharmaceutical deals ever and could require AstraZeneca to pay a premium, issue debt or stock, and absorb substantial integration costs. Reports described analysts as “baffled” by the strategic logic. Analysts baffled by AstraZeneca’s interest in Bristol Myers Squibb
• Negative Sentiment: Commentary indicated that AZN shareholders view the potential transaction as value-destructive, while BMY shareholders may benefit from the prospect of a premium exit. That asymmetric reaction helps explain the pressure on AstraZeneca shares. Bristol-Myers Squibb and AstraZeneca said to discuss megamerger

About Astrazeneca

AstraZeneca plc is a global biopharmaceutical company headquartered in Cambridge, England. Formed through the 1999 merger of Sweden’s Astra AB and the UK’s Zeneca Group, the company researches, develops, manufactures and commercializes prescription medicines across a range of therapeutic areas. AstraZeneca positions itself as R&D-driven, investing in discovery science, clinical development and regulatory processes to bring new therapies to market.

The company’s commercial portfolio and late-stage pipeline emphasize oncology, cardiovascular, renal and metabolic (CVRM) diseases, and respiratory and immunology.