AstraZeneca (NASDAQ:AZN) Cut to “Sell” at Deutsche Bank Aktiengesellschaft

Deutsche Bank Aktiengesellschaft downgraded shares of AstraZeneca (NASDAQ:AZN) from a hold rating to a sell rating in a research report sent to investors on Friday morning, MarketBeat reports.

Other equities analysts also recently issued reports about the company. TD Cowen lifted their target price on AstraZeneca from $90.00 to $95.00 and gave the company a buy rating in a research note on Monday, August 12th. The Goldman Sachs Group initiated coverage on shares of AstraZeneca in a research report on Thursday, May 30th. They set a buy rating and a $97.00 price target for the company. Argus upped their target price on shares of AstraZeneca from $80.00 to $85.00 and gave the stock a buy rating in a research report on Thursday, May 30th. Barclays raised AstraZeneca to a strong-buy rating in a report on Monday, June 24th. Finally, Erste Group Bank raised AstraZeneca from a hold rating to a buy rating in a report on Wednesday, September 11th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, seven have assigned a buy rating and three have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, AstraZeneca has an average rating of Buy and a consensus price target of $89.75.

AstraZeneca Price Performance

AZN opened at $78.27 on Friday. The company has a market capitalization of $242.68 billion, a P/E ratio of 38.37, a PEG ratio of 1.49 and a beta of 0.47. The company has a 50-day moving average of $81.71 and a 200-day moving average of $76.24. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.69 and a current ratio of 0.89. AstraZeneca has a 1-year low of $60.47 and a 1-year high of $87.68.

AstraZeneca (NASDAQ:AZN) last posted its quarterly earnings results on Thursday, July 25th. The company reported $0.99 EPS for the quarter, topping analysts’ consensus estimates of $0.98 by $0.01. AstraZeneca had a return on equity of 29.34% and a net margin of 13.11%. The business had revenue of $12.45 billion during the quarter, compared to the consensus estimate of $12.62 billion. During the same period last year, the firm earned $1.08 earnings per share. The company’s revenue for the quarter was up 9.1% compared to the same quarter last year. Equities analysts expect that AstraZeneca will post 4.05 EPS for the current fiscal year.

AstraZeneca Cuts Dividend

The business also recently disclosed a Semi-Annual dividend, which was paid on Monday, September 9th. Stockholders of record on Friday, August 9th were given a dividend of $0.49 per share. The ex-dividend date of this dividend was Friday, August 9th. This represents a dividend yield of 1.8%. AstraZeneca’s dividend payout ratio (DPR) is presently 48.04%.

Hedge Funds Weigh In On AstraZeneca

A number of institutional investors have recently bought and sold shares of AZN. GHP Investment Advisors Inc. acquired a new position in shares of AstraZeneca in the second quarter worth about $26,000. Able Wealth Management LLC acquired a new position in AstraZeneca in the 4th quarter worth approximately $27,000. Pathway Financial Advisers LLC purchased a new position in AstraZeneca during the 1st quarter worth approximately $29,000. Pin Oak Investment Advisors Inc. grew its position in AstraZeneca by 468.4% during the 4th quarter. Pin Oak Investment Advisors Inc. now owns 449 shares of the company’s stock worth $30,000 after purchasing an additional 370 shares in the last quarter. Finally, RFP Financial Group LLC raised its stake in AstraZeneca by 56.3% during the 1st quarter. RFP Financial Group LLC now owns 494 shares of the company’s stock valued at $33,000 after purchasing an additional 178 shares during the period. Hedge funds and other institutional investors own 20.35% of the company’s stock.

AstraZeneca Company Profile

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.