SVB Leerink Research Analysts Lower Earnings Estimates for AstraZeneca PLC (NASDAQ:AZN)

AstraZeneca PLC (NASDAQ:AZNGet Rating) – Investment analysts at SVB Leerink cut their Q2 2022 earnings estimates for AstraZeneca in a research report issued on Wednesday, July 27th. SVB Leerink analyst A. Berens now expects that the company will earn $0.74 per share for the quarter, down from their prior forecast of $0.75. The consensus estimate for AstraZeneca’s current full-year earnings is $3.29 per share. SVB Leerink also issued estimates for AstraZeneca’s Q3 2022 earnings at $0.79 EPS, Q4 2022 earnings at $0.85 EPS, FY2022 earnings at $3.34 EPS, FY2023 earnings at $3.54 EPS and FY2024 earnings at $4.50 EPS.

A number of other research analysts also recently weighed in on the stock. Credit Suisse Group increased their price objective on shares of AstraZeneca from GBX 9,000 ($108.43) to £110 ($132.53) in a research report on Friday, April 8th. Barclays increased their price objective on shares of AstraZeneca from £115 ($138.55) to £120 ($144.58) in a research report on Thursday, April 14th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of AstraZeneca from £105 ($126.51) to £115 ($138.55) in a research report on Wednesday, April 6th. UBS Group downgraded shares of AstraZeneca from a “buy” rating to a “neutral” rating in a research report on Tuesday, June 14th. Finally, Citigroup increased their price target on shares of AstraZeneca from £105 ($126.51) to £130 ($156.63) in a research report on Tuesday, July 12th. Four analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, AstraZeneca presently has a consensus rating of “Moderate Buy” and an average target price of $8,840.50.

AstraZeneca Stock Down 1.1 %

Shares of AstraZeneca stock opened at $66.72 on Thursday. The company has a market cap of $206.75 billion, a price-to-earnings ratio of -208.49, a price-to-earnings-growth ratio of 1.27 and a beta of 0.44. The company’s 50 day moving average is $65.31 and its 200 day moving average is $63.53. AstraZeneca has a twelve month low of $53.63 and a twelve month high of $71.70. The company has a quick ratio of 0.66, a current ratio of 1.00 and a debt-to-equity ratio of 0.77.

AstraZeneca (NASDAQ:AZNGet Rating) last posted its quarterly earnings results on Friday, April 29th. The company reported $0.95 EPS for the quarter, beating analysts’ consensus estimates of $0.86 by $0.09. The firm had revenue of $11.39 billion for the quarter, compared to analysts’ expectations of $10.96 billion. AstraZeneca had a negative net margin of 2.56% and a positive return on equity of 25.35%. The business’s revenue for the quarter was up 55.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.81 earnings per share.

Institutional Trading of AstraZeneca

Several institutional investors and hedge funds have recently modified their holdings of the company. J.W. Cole Advisors Inc. grew its stake in AstraZeneca by 10.8% during the fourth quarter. J.W. Cole Advisors Inc. now owns 4,397 shares of the company’s stock valued at $256,000 after acquiring an additional 428 shares in the last quarter. Dynamic Advisor Solutions LLC purchased a new position in AstraZeneca during the fourth quarter valued at $207,000. Regentatlantic Capital LLC grew its stake in AstraZeneca by 5.1% during the fourth quarter. Regentatlantic Capital LLC now owns 15,768 shares of the company’s stock valued at $918,000 after acquiring an additional 766 shares in the last quarter. Paragon Capital Management Ltd purchased a new position in AstraZeneca during the fourth quarter valued at $58,000. Finally, Bessemer Group Inc. grew its stake in AstraZeneca by 28.1% during the fourth quarter. Bessemer Group Inc. now owns 20,932 shares of the company’s stock valued at $1,220,000 after acquiring an additional 4,592 shares in the last quarter. 20.46% of the stock is currently owned by institutional investors.

AstraZeneca Company Profile

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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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Earnings History and Estimates for AstraZeneca (NASDAQ:AZN)

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