AstraZeneca PLC (NASDAQ:AZN) Short Interest Update

AstraZeneca PLC (NASDAQ:AZN) was the target of a significant increase in short interest in the month of December. As of December 31st, there was short interest totaling 10,940,007 shares, an increase of 31.5% from the December 15th total of 8,318,927 shares. Currently, 0.4% of the shares of the stock are sold short. Based on an average trading volume of 3,845,817 shares, the days-to-cover ratio is currently 2.8 days. Based on an average trading volume of 3,845,817 shares, the days-to-cover ratio is currently 2.8 days. Currently, 0.4% of the shares of the stock are sold short.

Institutional Trading of AstraZeneca

Hedge funds have recently modified their holdings of the stock. NewSquare Capital LLC lifted its holdings in AstraZeneca by 149.3% during the 2nd quarter. NewSquare Capital LLC now owns 364 shares of the company’s stock worth $25,000 after buying an additional 218 shares in the last quarter. Triumph Capital Management bought a new stake in shares of AstraZeneca during the third quarter worth $25,000. Richardson Financial Services Inc. lifted its stake in shares of AstraZeneca by 59.8% during the second quarter. Richardson Financial Services Inc. now owns 398 shares of the company’s stock valued at $28,000 after acquiring an additional 149 shares during the period. Bangor Savings Bank boosted its holdings in AstraZeneca by 102.7% in the fourth quarter. Bangor Savings Bank now owns 304 shares of the company’s stock valued at $28,000 after acquiring an additional 154 shares during the last quarter. Finally, Rakuten Investment Management Inc. acquired a new stake in AstraZeneca in the third quarter worth about $31,000. 20.35% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on AZN. Morgan Stanley reaffirmed an “overweight” rating and set a $103.00 price objective on shares of AstraZeneca in a report on Wednesday, December 3rd. Deutsche Bank Aktiengesellschaft restated a “sell” rating on shares of AstraZeneca in a research report on Friday. Cowen reiterated a “buy” rating on shares of AstraZeneca in a research report on Tuesday, December 9th. Jefferies Financial Group assumed coverage on AstraZeneca in a report on Monday, October 27th. They set a “buy” rating for the company. Finally, Wall Street Zen lowered shares of AstraZeneca from a “strong-buy” rating to a “buy” rating in a report on Saturday. Nine analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $95.75.

AstraZeneca Price Performance

Shares of AZN stock opened at $94.39 on Tuesday. The stock’s fifty day moving average is $91.66 and its 200-day moving average is $83.08. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.69 and a current ratio of 0.88. The stock has a market capitalization of $292.78 billion, a PE ratio of 31.36, a PEG ratio of 1.57 and a beta of 0.34. AstraZeneca has a 52 week low of $61.24 and a 52 week high of $96.51.

AstraZeneca (NASDAQ:AZN) last released its quarterly earnings results on Thursday, November 6th. The company reported $1.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.14 by $0.05. AstraZeneca had a return on equity of 32.89% and a net margin of 16.17%.The business had revenue of $15.19 billion during the quarter, compared to analysts’ expectations of $14.75 billion. During the same period in the previous year, the business posted $2.08 earnings per share. The firm’s revenue for the quarter was up 12.0% compared to the same quarter last year. Equities research analysts expect that AstraZeneca will post 4.51 EPS for the current fiscal year.

About AstraZeneca

AstraZeneca is a global, science-led biopharmaceutical company headquartered in Cambridge, England. Formed through the 1999 merger of Sweden’s Astra AB and the UK’s Zeneca Group, the company researches, develops, manufactures and commercializes prescription medicines across a range of therapeutic areas. AstraZeneca’s operations span research and development, large-scale manufacturing, and commercial distribution, with a presence in developed and emerging markets worldwide.

The company focuses on several core therapy areas including oncology, cardiovascular, renal and metabolism (CVRM), respiratory and immunology, and rare diseases.