AstraZeneca Q3 EPS Forecast Decreased by Leerink Partnrs

AstraZeneca PLC (NASDAQ:AZN) – Investment analysts at Leerink Partnrs lowered their Q3 2024 EPS estimates for AstraZeneca in a research note issued on Monday, October 28th. Leerink Partnrs analyst A. Berens now forecasts that the company will post earnings per share of $1.02 for the quarter, down from their prior forecast of $1.09. The consensus estimate for AstraZeneca’s current full-year earnings is $4.07 per share. Leerink Partnrs also issued estimates for AstraZeneca’s FY2024 earnings at $4.10 EPS.

Several other equities research analysts have also recently commented on AZN. Erste Group Bank raised AstraZeneca from a “hold” rating to a “buy” rating in a research note on Wednesday, September 11th. TD Cowen raised their price objective on shares of AstraZeneca from $90.00 to $95.00 and gave the stock a “buy” rating in a research report on Monday, August 12th. Finally, Deutsche Bank Aktiengesellschaft downgraded shares of AstraZeneca from a “hold” rating to a “sell” rating in a research report on Friday, September 13th. One analyst has rated the stock with a sell rating, one has assigned a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $89.75.

AstraZeneca Stock Performance

AZN stock opened at $71.15 on Wednesday. The firm has a market cap of $220.61 billion, a PE ratio of 34.37, a price-to-earnings-growth ratio of 1.39 and a beta of 0.46. The company has a current ratio of 0.89, a quick ratio of 0.69 and a debt-to-equity ratio of 0.69. The stock has a 50-day moving average price of $79.48 and a 200-day moving average price of $78.58. AstraZeneca has a 1-year low of $60.47 and a 1-year high of $87.68.

Institutional Trading of AstraZeneca

Hedge funds and other institutional investors have recently bought and sold shares of the business. Stratos Wealth Advisors LLC grew its holdings in shares of AstraZeneca by 2.0% during the third quarter. Stratos Wealth Advisors LLC now owns 6,699 shares of the company’s stock valued at $522,000 after buying an additional 133 shares during the last quarter. Bruce G. Allen Investments LLC boosted its stake in AstraZeneca by 19.1% during the 2nd quarter. Bruce G. Allen Investments LLC now owns 860 shares of the company’s stock valued at $67,000 after purchasing an additional 138 shares during the last quarter. Carnegie Investment Counsel increased its holdings in AstraZeneca by 0.8% during the 2nd quarter. Carnegie Investment Counsel now owns 17,269 shares of the company’s stock worth $1,347,000 after purchasing an additional 138 shares in the last quarter. CANADA LIFE ASSURANCE Co increased its holdings in AstraZeneca by 40.6% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 506 shares of the company’s stock worth $34,000 after purchasing an additional 146 shares in the last quarter. Finally, Sunpointe LLC raised its stake in shares of AstraZeneca by 4.5% in the second quarter. Sunpointe LLC now owns 3,419 shares of the company’s stock worth $267,000 after purchasing an additional 147 shares during the last quarter. Institutional investors own 20.35% of the company’s stock.

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.