Leerink Partnrs Weighs in on AstraZeneca PLC’s FY2023 Earnings (NASDAQ:AZN)

AstraZeneca PLC (NASDAQ:AZN) – Research analysts at Leerink Partnrs upped their FY2023 earnings estimates for AstraZeneca in a report released on Monday, November 13th. Leerink Partnrs analyst A. Berens now forecasts that the company will earn $3.72 per share for the year, up from their prior estimate of $3.60. The consensus estimate for AstraZeneca’s current full-year earnings is $3.62 per share. Leerink Partnrs also issued estimates for AstraZeneca’s Q4 2023 earnings at $0.87 EPS, FY2024 earnings at $4.40 EPS, FY2025 earnings at $5.47 EPS and FY2026 earnings at $6.29 EPS.

AstraZeneca (NASDAQ:AZN) last issued its quarterly earnings data on Wednesday, November 8th. The company reported $0.87 earnings per share for the quarter, topping analysts’ consensus estimates of $0.84 by $0.03. AstraZeneca had a net margin of 13.10% and a return on equity of 30.30%. The business had revenue of $11.49 billion during the quarter, compared to the consensus estimate of $11.55 billion. During the same quarter in the prior year, the firm posted $0.84 earnings per share. The company’s revenue was up 4.6% compared to the same quarter last year.

AZN has been the subject of several other reports. StockNews.com initiated coverage on AstraZeneca in a research note on Thursday, October 5th. They set a “strong-buy” rating for the company. Erste Group Bank reissued a “hold” rating on shares of AstraZeneca in a report on Friday, September 8th. Finally, Jefferies Financial Group raised shares of AstraZeneca from a “hold” rating to a “buy” rating in a report on Monday, September 25th. Two equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $103.00.

AstraZeneca Stock Performance

NASDAQ AZN opened at $63.80 on Thursday. The stock has a market capitalization of $197.77 billion, a price-to-earnings ratio of 33.58, a PEG ratio of 1.28 and a beta of 0.51. The stock has a 50-day moving average of $65.85 and a 200 day moving average of $69.12. The company has a current ratio of 0.79, a quick ratio of 0.60 and a debt-to-equity ratio of 0.60. AstraZeneca has a twelve month low of $61.73 and a twelve month high of $76.56.

Institutional Investors Weigh In On AstraZeneca

A number of large investors have recently modified their holdings of AZN. Americana Partners LLC grew its position in shares of AstraZeneca by 0.4% in the first quarter. Americana Partners LLC now owns 41,501 shares of the company’s stock valued at $2,881,000 after purchasing an additional 146 shares in the last quarter. Diversified Trust Co grew its holdings in AstraZeneca by 3.5% in the 2nd quarter. Diversified Trust Co now owns 4,463 shares of the company’s stock valued at $319,000 after buying an additional 151 shares in the last quarter. First Affirmative Financial Network increased its stake in shares of AstraZeneca by 2.9% in the 3rd quarter. First Affirmative Financial Network now owns 5,495 shares of the company’s stock worth $372,000 after acquiring an additional 155 shares during the last quarter. Baldwin Brothers LLC MA raised its holdings in shares of AstraZeneca by 4.2% during the 2nd quarter. Baldwin Brothers LLC MA now owns 3,867 shares of the company’s stock worth $277,000 after acquiring an additional 156 shares during the period. Finally, Wrapmanager Inc. boosted its position in shares of AstraZeneca by 4.1% during the 2nd quarter. Wrapmanager Inc. now owns 3,962 shares of the company’s stock valued at $284,000 after acquiring an additional 157 shares during the last quarter. Hedge funds and other institutional investors own 15.68% of the company’s stock.

About AstraZeneca

AstraZeneca PLC, a biopharmaceutical company, focuses on the discovery, development, manufacture, andcommercialization of prescription medicines. The company's marketed products include Calquence, Enhertu, Faslodex, Imfinzi, Iressa, Koselugo, Lumoxiti, Lynparza, Orpathys, Tagrisso, and Zoladex for oncology; Andexxa/Ondexxya, Atacand, Atacand HCT, Atacand Plus, Brilinta/Brilique, Bydureon/Byetta, BCise, Byetta, Crestor, Evrenzo, Farxiga/Forxiga, Komboglyze/Kombiglyze XR, Lokelma, Onglyza, Qtern, Xigduo/Xigduo, and Zestril XR for cardiovascular, renal, and metabolism diseases; Accolate, Accoleit, Vanticon, Bevespi Aerosphere, Breztri Aerosphere, Bricanyl Respules and Turbuhaler, Daliresp/Daxas, Duaklir Genuair, Fasenra, Pulmicort, Rhinocort, Saphnelo, Symbicort, and Tezspire for respiratory and immunology; and Kanuma, Soliris, Strensiq, and Ultomiris for rare diseases.