AstraZeneca PLC (NASDAQ:AZN) Short Interest Update

AstraZeneca PLC (NASDAQ:AZN) was the target of a significant growth in short interest in the month of August. As of August 15th, there was short interest totalling 8,510,000 shares, a growth of 49.0% from the July 31st total of 5,710,000 shares. Based on an average daily trading volume, of 4,100,000 shares, the days-to-cover ratio is currently 2.1 days.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on AZN shares. Barclays upgraded shares of AstraZeneca to a “strong-buy” rating in a research note on Monday, June 24th. Citigroup upgraded shares of AstraZeneca to a “strong-buy” rating in a research note on Monday, June 24th. The Goldman Sachs Group initiated coverage on shares of AstraZeneca in a report on Thursday, May 30th. They issued a “buy” rating and a $97.00 price objective on the stock. TD Cowen raised their price objective on shares of AstraZeneca from $90.00 to $95.00 and gave the stock a “buy” rating in a report on Monday, August 12th. Finally, Argus raised their price objective on shares of AstraZeneca from $80.00 to $85.00 and gave the stock a “buy” rating in a report on Thursday, May 30th. Three equities research analysts have rated the stock with a hold rating, six have given a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $89.75.

AstraZeneca Price Performance

AZN traded up $0.32 during trading hours on Friday, hitting $87.62. The company’s stock had a trading volume of 2,836,861 shares, compared to its average volume of 5,251,905. The business’s 50-day moving average price is $80.81 and its 200-day moving average price is $74.81. AstraZeneca has a 12 month low of $60.47 and a 12 month high of $87.68. The stock has a market cap of $271.67 billion, a price-to-earnings ratio of 42.95, a P/E/G ratio of 1.63 and a beta of 0.45. The company has a current ratio of 0.89, a quick ratio of 0.69 and a debt-to-equity ratio of 0.69.

AstraZeneca (NASDAQ:AZN) last posted its quarterly earnings data on Thursday, July 25th. The company reported $0.99 earnings per share for the quarter, beating analysts’ consensus estimates of $0.98 by $0.01. AstraZeneca had a net margin of 13.11% and a return on equity of 29.34%. The business had revenue of $12.45 billion for the quarter, compared to analysts’ expectations of $12.62 billion. During the same quarter in the previous year, the business posted $1.08 earnings per share. The business’s revenue was up 9.1% compared to the same quarter last year. Sell-side analysts expect that AstraZeneca will post 4.06 earnings per share for the current fiscal year.

AstraZeneca Cuts Dividend

The business also recently announced a Semi-Annual dividend, which will be paid on Monday, September 9th. Stockholders of record on Friday, August 9th will be paid a dividend of $0.49 per share. This represents a dividend yield of 1.8%. The ex-dividend date of this dividend is Friday, August 9th. AstraZeneca’s dividend payout ratio is currently 48.04%.

Institutional Trading of AstraZeneca

Large investors have recently made changes to their positions in the stock. GHP Investment Advisors Inc. purchased a new stake in AstraZeneca in the second quarter worth about $26,000. Able Wealth Management LLC bought a new stake in AstraZeneca during the 4th quarter valued at $27,000. Pathway Financial Advisers LLC purchased a new position in shares of AstraZeneca in the 1st quarter valued at $29,000. Hobbs Group Advisors LLC bought a new position in shares of AstraZeneca in the 2nd quarter worth $35,000. Finally, Pin Oak Investment Advisors Inc. boosted its position in AstraZeneca by 468.4% during the fourth quarter. Pin Oak Investment Advisors Inc. now owns 449 shares of the company’s stock valued at $30,000 after purchasing an additional 370 shares in the last quarter. 20.35% of the stock is owned by hedge funds and other 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.