AstraZeneca (NASDAQ:AZN) Lowered to “Equal Weight” at Morgan Stanley

Morgan Stanley downgraded shares of AstraZeneca (NASDAQ:AZNGet Rating) from an overweight rating to an equal weight rating in a report published on Wednesday, The Fly reports.

AZN has been the topic of several other research reports. Argus raised shares of AstraZeneca from a hold rating to a buy rating in a research note on Monday, August 29th. Kepler Capital Markets downgraded shares of AstraZeneca from a buy rating to a hold rating in a research note on Wednesday, May 18th. AlphaValue upgraded shares of AstraZeneca to a reduce rating in a report on Monday, August 22nd. TheStreet cut shares of AstraZeneca from a b- rating to a c rating in a report on Tuesday, August 30th. Finally, UBS Group cut shares of AstraZeneca from a buy rating to a neutral rating in a report on Tuesday, June 14th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, AstraZeneca presently has a consensus rating of Hold and an average price target of $8,840.50.

AstraZeneca Trading Down 1.0 %

Shares of AZN opened at $59.82 on Wednesday. AstraZeneca has a twelve month low of $53.63 and a twelve month high of $71.70. The company has a market cap of $185.37 billion, a P/E ratio of -145.90, a P/E/G ratio of 1.17 and a beta of 0.44. The company has a current ratio of 0.96, a quick ratio of 0.67 and a debt-to-equity ratio of 0.74. The company’s fifty day simple moving average is $65.52 and its 200-day simple moving average is $65.29.

AstraZeneca Cuts Dividend

The firm also recently announced a semi-annual dividend, which will be paid on Monday, September 12th. Shareholders of record on Friday, August 12th will be issued a dividend of $0.465 per share. This represents a yield of 2.2%. The ex-dividend date is Thursday, August 11th. AstraZeneca’s payout ratio is -221.95%.

Institutional Trading of AstraZeneca

A number of institutional investors have recently modified their holdings of AZN. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of AstraZeneca in the 4th quarter valued at about $1,720,000. HighTower Advisors LLC raised its position in shares of AstraZeneca by 3.1% in the 4th quarter. HighTower Advisors LLC now owns 202,748 shares of the company’s stock valued at $11,811,000 after purchasing an additional 6,082 shares during the last quarter. TD Asset Management Inc. raised its position in shares of AstraZeneca by 47.4% in the 4th quarter. TD Asset Management Inc. now owns 1,648,859 shares of the company’s stock valued at $96,046,000 after purchasing an additional 530,595 shares during the last quarter. Industrial Alliance Investment Management Inc. purchased a new position in shares of AstraZeneca in the 4th quarter valued at approximately $86,000. Finally, Regal Investment Advisors LLC raised its position in shares of AstraZeneca by 4.8% in the 4th quarter. Regal Investment Advisors LLC now owns 4,038 shares of the company’s stock valued at $235,000 after purchasing an additional 185 shares during the last quarter. 21.55% of the stock is currently owned by institutional investors.

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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