AstraZeneca (NASDAQ:AZN) Shares Gap Up – Here’s What Happened

AstraZeneca PLC (NASDAQ:AZN) gapped up prior to trading on Thursday . The stock had previously closed at $72.22, but opened at $75.62. AstraZeneca shares last traded at $74.70, with a volume of 1,320,608 shares trading hands.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. UBS Group upgraded shares of AstraZeneca from a “neutral” rating to a “buy” rating in a report on Thursday, February 13th. Morgan Stanley initiated coverage on AstraZeneca in a report on Wednesday, February 12th. They set an “overweight” rating on the stock. One research analyst has rated the stock with a hold rating, seven have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $89.75.

AstraZeneca Price Performance

The company has a debt-to-equity ratio of 0.65, a current ratio of 0.93 and a quick ratio of 0.74. The company’s 50-day moving average price is $73.86 and its 200-day moving average price is $71.54. The company has a market cap of $231.66 billion, a P/E ratio of 33.05, a P/E/G ratio of 1.42 and a beta of 0.41.

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

AstraZeneca Increases Dividend

The firm also recently announced a semi-annual dividend, which was paid on Monday, March 24th. Investors of record on Friday, February 21st were issued a dividend of $1.03 per share. This is a boost from AstraZeneca’s previous semi-annual dividend of $0.49. The ex-dividend date was Friday, February 21st. This represents a yield of 2%. AstraZeneca’s dividend payout ratio is presently 91.15%.

Institutional Investors Weigh In On AstraZeneca

Several institutional investors and hedge funds have recently added to or reduced their stakes in AZN. Banque Transatlantique SA acquired a new position in AstraZeneca during the fourth quarter worth $26,000. Confluence Investment Management LLC acquired a new position in shares of AstraZeneca in the first quarter valued at about $27,000. Mascagni Wealth Management Inc. bought a new position in AstraZeneca during the fourth quarter worth about $29,000. Albion Financial Group UT raised its stake in AstraZeneca by 68.9% in the 4th quarter. Albion Financial Group UT now owns 608 shares of the company’s stock worth $40,000 after purchasing an additional 248 shares in the last quarter. Finally, Groupama Asset Managment boosted its holdings in AstraZeneca by 22.9% in the 3rd quarter. Groupama Asset Managment now owns 543,398 shares of the company’s stock valued at $42,000 after purchasing an additional 101,225 shares during the period. 20.35% of the stock is owned by institutional investors.

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.