BMO Capital Markets Increases AstraZeneca (NASDAQ:AZN) Price Target to $82.00

AstraZeneca (NASDAQ:AZN) had its price objective lifted by BMO Capital Markets from $80.00 to $82.00 in a report issued on Friday, Benzinga reports. The brokerage currently has an “outperform” rating on the stock. BMO Capital Markets’ price objective indicates a potential upside of 9.09% from the stock’s previous close.

AZN has been the topic of a number of other reports. Morgan Stanley began coverage on AstraZeneca in a research report on Tuesday, January 23rd. They set an “overweight” rating on the stock. Jefferies Financial Group downgraded AstraZeneca from a “buy” rating to a “hold” rating in a research report on Wednesday, January 3rd. Finally, Deutsche Bank Aktiengesellschaft upgraded AstraZeneca from a “sell” rating to a “hold” rating in a research report on Tuesday, April 16th. Three investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $81.00.

AstraZeneca Stock Up 0.2 %

AstraZeneca stock opened at $75.17 on Friday. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.82 and a quick ratio of 0.64. AstraZeneca has a 1-year low of $60.47 and a 1-year high of $75.81. The company has a market cap of $233.06 billion, a PE ratio of 36.85, a price-to-earnings-growth ratio of 1.38 and a beta of 0.50. The stock’s 50 day moving average price is $67.27 and its 200 day moving average price is $66.06.

AstraZeneca (NASDAQ:AZN) last posted its quarterly earnings results on Thursday, February 8th. The company reported $0.73 earnings per share for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.01). The business had revenue of $12.02 billion during the quarter, compared to analysts’ expectations of $12.07 billion. AstraZeneca had a net margin of 13.30% and a return on equity of 30.34%. The firm’s quarterly revenue was up 7.3% compared to the same quarter last year. During the same quarter last year, the firm earned $0.69 earnings per share. On average, sell-side analysts predict that AstraZeneca will post 4.01 EPS for the current fiscal year.

Hedge Funds Weigh In On AstraZeneca

A number of institutional investors have recently made changes to their positions in AZN. Private Trust Co. NA raised its holdings in shares of AstraZeneca by 41.0% in the third quarter. Private Trust Co. NA now owns 3,495 shares of the company’s stock worth $237,000 after acquiring an additional 1,016 shares during the last quarter. Koshinski Asset Management Inc. acquired a new position in AstraZeneca in the third quarter valued at $444,000. UMB Bank n.a. increased its stake in AstraZeneca by 7.2% in the third quarter. UMB Bank n.a. now owns 12,875 shares of the company’s stock valued at $872,000 after purchasing an additional 869 shares during the last quarter. Red Door Wealth Management LLC acquired a new position in AstraZeneca in the third quarter valued at $228,000. Finally, Manning & Napier Group LLC increased its stake in AstraZeneca by 0.6% in the third quarter. Manning & Napier Group LLC now owns 729,148 shares of the company’s stock valued at $49,378,000 after purchasing an additional 4,183 shares during the last quarter. 20.35% of the stock is owned by institutional investors and hedge funds.

AstraZeneca Company Profile

AstraZeneca PLC, a biopharmaceutical company, focuses on the discovery, development, manufacture, and commercialization of prescription medicines. The company's marketed products include Tagrisso, Imfinzi, Lynparza, Calquence, Enhertu, Orpathys, Truqap, Zoladex, Faslodex, Farxiga, Brilinta, Lokelma, Roxadustat, Andexxa, Crestor, Seloken, Onglyza, Bydureon, Fasenra, Breztri, Symbicort, Saphnelo, Tezspire, Pulmicort, Bevespi, and Daliresp for cardiovascular, renal, metabolism, and oncology.