AstraZeneca (NASDAQ:AZN) Research Coverage Started at BNP Paribas

BNP Paribas assumed coverage on shares of AstraZeneca (NASDAQ:AZN) in a report released on Tuesday morning, Marketbeat reports. The brokerage issued an outperform rating and a $75.00 target price on the stock.

Several other equities analysts have also recently commented on the stock. UBS Group raised shares of AstraZeneca from a “neutral” rating to a “buy” rating in a research report on Thursday, February 13th. Morgan Stanley began coverage on AstraZeneca in a research report on Wednesday, February 12th. They issued an “overweight” rating on the stock. One equities research analyst has rated the stock with a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $86.80.

AstraZeneca Stock Up 0.7 %

Shares of NASDAQ:AZN opened at $67.54 on Tuesday. The business’s 50 day moving average is $73.00 and its 200 day moving average is $70.65. AstraZeneca has a 12-month low of $61.24 and a 12-month high of $87.68. The stock has a market cap of $209.47 billion, a price-to-earnings ratio of 29.89, a PEG ratio of 1.42 and a beta of 0.49. The company has a quick ratio of 0.74, a current ratio of 0.93 and a debt-to-equity ratio of 0.65.

AstraZeneca (NASDAQ:AZN) last posted its earnings results on Thursday, February 6th. The company reported $1.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.10 by ($0.05). AstraZeneca had a return on equity of 32.23% and a net margin of 13.01%. On average, sell-side analysts forecast that AstraZeneca will post 4.51 earnings per share for the current fiscal year.

AstraZeneca Increases Dividend

The company also recently announced a semi-annual dividend, which was paid on Monday, March 24th. Shareholders of record on Friday, February 21st were given a $1.03 dividend. This is an increase from AstraZeneca’s previous semi-annual dividend of $0.49. This represents a yield of 2%. The ex-dividend date of this dividend was Friday, February 21st. AstraZeneca’s dividend payout ratio (DPR) is currently 91.15%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in AZN. Bank of America Corp DE lifted its holdings in AstraZeneca by 189.3% during the fourth quarter. Bank of America Corp DE now owns 24,026,966 shares of the company’s stock valued at $1,574,247,000 after purchasing an additional 15,722,197 shares during the last quarter. Marshall Wace LLP bought a new stake in shares of AstraZeneca in the fourth quarter valued at approximately $254,018,000. Boston Partners lifted its stake in shares of AstraZeneca by 9,985.6% during the 4th quarter. Boston Partners now owns 3,707,479 shares of the company’s stock valued at $243,444,000 after buying an additional 3,670,719 shares in the last quarter. Raymond James Financial Inc. bought a new position in AstraZeneca in the 4th quarter worth approximately $158,018,000. Finally, Alyeska Investment Group L.P. grew its stake in AstraZeneca by 220.8% in the 4th quarter. Alyeska Investment Group L.P. now owns 3,027,511 shares of the company’s stock valued at $198,363,000 after buying an additional 2,083,645 shares in the last quarter. Institutional investors own 20.35% of the company’s stock.

About AstraZeneca

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.