AstraZeneca PLC (NASDAQ:AZN – Get Rating) – Equities researchers at Jefferies Financial Group cut their Q2 2022 EPS estimates for AstraZeneca in a report released on Tuesday, May 24th. Jefferies Financial Group analyst P. Welford now anticipates that the company will post earnings of $0.78 per share for the quarter, down from their prior estimate of $0.80.
A number of other analysts also recently weighed in on AZN. Stifel Nicolaus started coverage on AstraZeneca in a research report on Monday, February 28th. They set a “buy” rating for the company. Deutsche Bank Aktiengesellschaft upped their price objective on AstraZeneca from £105 ($132.13) to £115 ($144.71) in a research report on Wednesday, April 6th. Credit Suisse Group upped their price objective on shares of AstraZeneca from GBX 9,000 ($113.25) to £110 ($138.42) in a research report on Friday, April 8th. TheStreet raised AstraZeneca from a “c+” rating to a “b-” rating in a report on Thursday, March 10th. Finally, Morgan Stanley boosted their price target on AstraZeneca from £102 ($128.35) to £111 ($139.68) in a report on Thursday, April 21st. Four investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, AstraZeneca presently has an average rating of “Buy” and an average price target of $7,223.13.
AstraZeneca (NASDAQ:AZN – Get Rating) last posted its quarterly earnings data on Friday, April 29th. The company reported $0.95 earnings per share for the quarter, topping the consensus estimate of $0.86 by $0.09. AstraZeneca had a positive return on equity of 26.29% and a negative net margin of 2.56%. The firm had revenue of $11.39 billion for the quarter, compared to analysts’ expectations of $10.96 billion. During the same quarter last year, the business earned $0.81 EPS. The company’s quarterly revenue was up 55.6% compared to the same quarter last year.
A number of hedge funds have recently added to or reduced their stakes in the stock. Victory Capital Management Inc. grew its position in shares of AstraZeneca by 99.8% during the 4th quarter. Victory Capital Management Inc. now owns 80,251 shares of the company’s stock worth $4,675,000 after buying an additional 40,087 shares during the period. Wellington Management Group LLP grew its holdings in AstraZeneca by 9.3% in the third quarter. Wellington Management Group LLP now owns 53,145,564 shares of the company’s stock worth $3,191,923,000 after purchasing an additional 4,526,346 shares during the period. O Shaughnessy Asset Management LLC raised its holdings in shares of AstraZeneca by 2.6% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 42,880 shares of the company’s stock valued at $2,498,000 after purchasing an additional 1,103 shares during the period. Pura Vida Investments LLC acquired a new stake in shares of AstraZeneca in the 3rd quarter valued at about $3,003,000. Finally, Ameritas Advisory Services LLC bought a new stake in AstraZeneca in the 4th quarter valued at about $653,000. Institutional investors and hedge funds own 20.46% of the company’s stock.
About AstraZeneca (Get Rating)
AstraZeneca PLC, a biopharmaceutical company, focuses on the discovery, development, manufacturing, and commercialization of prescription medicines. Its marketed products include Calquence, Enhertu, Faslodex, Imfinzi, Iressa, Koselugo, Lumoxiti, Lynparza, Orpathys, Tagrisso, and Zoladex for oncology; Brilinta/Brilique, Bydureon/Byetta, BCise, Byetta, Crestor, Evrenzo, Farxiga/Forxiga, Komboglyze/Kombiglyze XR, Lokelma, Onglyza, Qtern, and Xigduo/Xigduo XR for cardiovascular, renal, and metabolism diseases; Bevespi Aerosphere, Breztri Aerosphere, Daliresp/Daxas, Duaklir Genuair, Fasenra, Pulmicort, Saphnelo, Symbicort, and Tudorza/Eklira/Bretaris for respiratory and immunology; and Andexxa/Ondexxya, Kanuma, Soliris, Strensiq, and Ultomiris for rare diseases.
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