BMO Capital Markets Reiterates “Buy” Rating for Astrazeneca PLC (AZN)

Astrazeneca PLC (NYSE:AZN)‘s stock had its “buy” rating restated by investment analysts at BMO Capital Markets in a research report issued on Tuesday, November 7th. They currently have a $38.00 price objective on the stock. BMO Capital Markets’ price target would indicate a potential upside of 13.57% from the stock’s previous close.

Other research analysts also recently issued reports about the stock. Citigroup Inc. raised shares of Astrazeneca PLC to a “buy” rating in a research report on Wednesday, October 18th. Piper Jaffray Companies reissued a “buy” rating on shares of Astrazeneca PLC in a research report on Wednesday, August 9th. BidaskClub downgraded shares of Astrazeneca PLC from a “hold” rating to a “sell” rating in a research report on Monday, July 24th. Cowen and Company restated a “hold” rating and issued a $34.00 price objective on shares of Astrazeneca PLC in a research note on Friday, July 28th. Finally, Morgan Stanley cut shares of Astrazeneca PLC from an “overweight” rating to an “equal weight” rating in a research note on Friday, July 28th. Four equities research analysts have rated the stock with a sell rating, eight have given a hold rating and twelve have given a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $34.20.

Astrazeneca PLC (NYSE AZN) opened at $33.46 on Tuesday. Astrazeneca PLC has a fifty-two week low of $25.55 and a fifty-two week high of $35.60. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.94 and a quick ratio of 0.72. The company has a market cap of $83,090.00, a PE ratio of 7.99, a PEG ratio of 3.16 and a beta of 0.79.

Astrazeneca PLC (NYSE:AZN) last released its quarterly earnings results on Thursday, November 9th. The company reported $1.12 EPS for the quarter, topping analysts’ consensus estimates of $0.57 by $0.55. Astrazeneca PLC had a net margin of 15.90% and a return on equity of 34.02%. The company had revenue of $6.23 billion for the quarter, compared to the consensus estimate of $6 billion. During the same period in the previous year, the firm earned $1.32 EPS. Astrazeneca PLC’s revenue was up 9.4% on a year-over-year basis. analysts anticipate that Astrazeneca PLC will post 1.93 earnings per share for the current fiscal year.

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Several hedge funds and other institutional investors have recently modified their holdings of the company. BlackRock Inc. raised its position in shares of Astrazeneca PLC by 287,844.0% in the 1st quarter. BlackRock Inc. now owns 6,910,657 shares of the company’s stock valued at $215,198,000 after acquiring an additional 6,908,257 shares during the period. Nuveen Asset Management LLC acquired a new stake in shares of Astrazeneca PLC in the 1st quarter valued at approximately $225,000. Fox Run Management L.L.C. acquired a new stake in shares of Astrazeneca PLC in the 2nd quarter valued at approximately $808,000. Capital One National Association acquired a new stake in shares of Astrazeneca PLC in the 2nd quarter valued at approximately $203,000. Finally, Atria Investments LLC raised its position in shares of Astrazeneca PLC by 0.5% in the 2nd quarter. Atria Investments LLC now owns 24,695 shares of the company’s stock valued at $842,000 after acquiring an additional 129 shares during the period. 14.44% of the stock is currently owned by institutional investors.

About Astrazeneca PLC

AstraZeneca PLC (AstraZeneca) is a biopharmaceutical company. The Company focuses on discovery and development of products, which are then manufactured, marketed and sold. The Company focuses on three main therapy areas: Oncology, Cardiovascular & Metabolic Disease (CVMD) and Respiratory, while selectively pursuing therapies in Autoimmunity, Infection and Neuroscience.

Analyst Recommendations for Astrazeneca PLC (NYSE:AZN)

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