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 October. As of October 31st, there was short interest totalling 4,630,000 shares, an increase of 14.9% from the October 15th total of 4,030,000 shares. Based on an average trading volume of 4,910,000 shares, the days-to-cover ratio is presently 0.9 days.

AstraZeneca Price Performance

AZN traded down $1.81 during trading on Friday, reaching $63.23. 7,374,578 shares of the stock were exchanged, compared to its average volume of 7,079,173. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.93 and a quick ratio of 0.69. The company has a market capitalization of $196.05 billion, a price-to-earnings ratio of 30.25, a P/E/G ratio of 1.17 and a beta of 0.47. AstraZeneca has a 1 year low of $60.47 and a 1 year high of $87.68. The business’s 50 day moving average price is $75.03 and its two-hundred day moving average price is $78.22.

AstraZeneca (NASDAQ:AZN) last released its quarterly earnings data on Tuesday, November 12th. The company reported $1.04 EPS for the quarter, topping the consensus estimate of $1.01 by $0.03. The business had revenue of $13.57 billion for the quarter, compared to analyst estimates of $13.08 billion. AstraZeneca had a net margin of 12.68% and a return on equity of 30.01%. The business’s revenue for the quarter was up 18.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.87 EPS. As a group, equities research analysts anticipate that AstraZeneca will post 4.07 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Martin Investment Management LLC increased its position in AstraZeneca by 2.8% during the third quarter. Martin Investment Management LLC now owns 284,204 shares of the company’s stock worth $22,571,000 after buying an additional 7,615 shares in the last quarter. Integrated Advisors Network LLC raised its stake in AstraZeneca by 46.6% in the 3rd quarter. Integrated Advisors Network LLC now owns 43,610 shares of the company’s stock valued at $3,398,000 after purchasing an additional 13,860 shares during the last quarter. Creative Planning boosted its stake in shares of AstraZeneca by 8.0% during the 3rd quarter. Creative Planning now owns 224,751 shares of the company’s stock worth $17,510,000 after purchasing an additional 16,692 shares during the last quarter. Northcape Wealth Management LLC purchased a new stake in shares of AstraZeneca during the second quarter worth about $269,000. Finally, Cetera Advisors LLC raised its position in shares of AstraZeneca by 124.5% in the first quarter. Cetera Advisors LLC now owns 98,262 shares of the company’s stock valued at $6,657,000 after buying an additional 54,488 shares during the last quarter. 20.35% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on AZN shares. Erste Group Bank upgraded shares of AstraZeneca from a “hold” rating to a “buy” rating in a research report on Wednesday, September 11th. TD Cowen raised their price target on AstraZeneca from $90.00 to $95.00 and gave the company a “buy” rating in a report on Monday, August 12th. Finally, Deutsche Bank Aktiengesellschaft upgraded AstraZeneca from a “sell” rating to a “hold” rating in a research report on Wednesday, November 6th. Two analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $89.75.

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.