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

AstraZeneca PLC (NASDAQ:AZN)’s stock price 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.

Wall Street Analysts Forecast Growth

A number of research firms have commented on AZN. Morgan Stanley initiated coverage on shares of AstraZeneca in a research report on Wednesday, February 12th. They set an “overweight” rating on the stock. UBS Group raised shares of AstraZeneca from a “neutral” rating to a “buy” rating in a report on Thursday, February 13th. One analyst has rated the stock with a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, AstraZeneca presently has a consensus rating of “Buy” and a consensus price target of $89.75.

AstraZeneca Trading Down 7.4 %

The firm has a market capitalization of $212.31 billion, a PE ratio of 30.29, a price-to-earnings-growth 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. The company’s 50-day simple moving average is $73.96 and its 200 day simple moving average is $71.48.

AstraZeneca (NASDAQ:AZN) last posted its 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 expect that AstraZeneca PLC will post 4.51 EPS for the current 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 paid a dividend of $1.03 per share. This represents a yield of 2%. This is an increase from AstraZeneca’s previous semi-annual dividend of $0.49. The ex-dividend date of this dividend was Friday, February 21st. AstraZeneca’s payout ratio is 91.15%.

Institutional Investors Weigh In On AstraZeneca

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Nordea Investment Management AB purchased a new position in shares of AstraZeneca in the 4th quarter valued at approximately $754,000. Diversify Wealth Management LLC raised its holdings in shares of AstraZeneca by 3.6% in the fourth quarter. Diversify Wealth Management LLC now owns 4,402 shares of the company’s stock worth $295,000 after buying an additional 153 shares during the last quarter. Ameritas Advisory Services LLC lifted its stake in shares of AstraZeneca by 25.9% during the fourth quarter. Ameritas Advisory Services LLC now owns 9,487 shares of the company’s stock worth $622,000 after buying an additional 1,949 shares during the period. Oak Ridge Investments LLC grew its holdings in shares of AstraZeneca by 5.4% during the fourth quarter. Oak Ridge Investments LLC now owns 143,973 shares of the company’s stock valued at $9,433,000 after buying an additional 7,341 shares during the last quarter. Finally, Asio Capital LLC increased its position in shares of AstraZeneca by 11.6% in the 4th quarter. Asio Capital LLC now owns 53,541 shares of the company’s stock valued at $3,508,000 after acquiring an additional 5,569 shares during the period. 20.35% of the stock is currently owned by hedge funds and other 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.