Guggenheim Initiates Coverage on AstraZeneca (AZN)

Guggenheim Initiates Coverage on AstraZeneca (AZN)

Investment analysts at Guggenheim began coverage on shares of AstraZeneca (NYSE:AZN) in a report released on Monday, MarketBeat Ratings reports. The firm set a “buy” rating on the stock.

Several other equities research analysts have also commented on the stock. ValuEngine upgraded shares of AstraZeneca from a “hold” rating to a “buy” rating in a research report on Thursday, September 27th. Jefferies Financial Group lowered shares of AstraZeneca from a “buy” rating to a “hold” rating in a research report on Thursday, August 16th. Zacks Investment Research upgraded shares of AstraZeneca from a “sell” rating to a “hold” rating in a research report on Monday, July 16th. Finally, Morningstar restated a “hold” rating on shares of AstraZeneca in a research report on Tuesday, June 12th. Four investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $39.78.

Shares of AZN opened at $38.28 on Monday. The company has a debt-to-equity ratio of 1.08, a quick ratio of 0.54 and a current ratio of 0.72. The firm has a market capitalization of $100.23 billion, a price-to-earnings ratio of 8.82, a PEG ratio of 2.10 and a beta of 0.58. AstraZeneca has a 1 year low of $31.99 and a 1 year high of $40.16.

AstraZeneca (NYSE:AZN) last announced its quarterly earnings data on Thursday, July 26th. The company reported $0.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.31 by $0.38. The company had revenue of $5.16 billion for the quarter, compared to analysts’ expectations of $5.09 billion. AstraZeneca had a net margin of 11.98% and a return on equity of 29.89%. AstraZeneca’s revenue was up 2.1% compared to the same quarter last year. During the same period in the previous year, the company posted $0.87 EPS. As a group, equities research analysts expect that AstraZeneca will post 1.68 EPS for the current year.

In other AstraZeneca news, major shareholder Plc Astrazeneca acquired 246,666 shares of the firm’s stock in a transaction that occurred on Friday, September 28th. The shares were acquired at an average cost of $15.00 per share, for a total transaction of $3,699,990.00. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link.

Institutional investors have recently added to or reduced their stakes in the stock. Bessemer Group Inc. boosted its position in shares of AstraZeneca by 64.3% in the 2nd quarter. Bessemer Group Inc. now owns 4,651 shares of the company’s stock worth $163,000 after buying an additional 1,820 shares in the last quarter. NEXT Financial Group Inc purchased a new position in AstraZeneca in the 3rd quarter valued at about $169,000. FNY Investment Advisers LLC purchased a new position in AstraZeneca in the 2nd quarter valued at about $175,000. Tiverton Asset Management LLC purchased a new position in AstraZeneca in the 2nd quarter valued at about $178,000. Finally, Gilman Hill Asset Management LLC purchased a new position in AstraZeneca in the 2nd quarter valued at about $205,000. Institutional investors and hedge funds own 15.97% of the company’s stock.

AstraZeneca Company Profile

AstraZeneca PLC discovers, develops, and commercializes prescription medicines for the treatment of oncology, cardiovascular and metabolic, respiratory, gastrointestinal, neuroscience, and infection diseases worldwide. Its marketed products include Arimidex, Casodex/Cosudex, Calquence, Faslodex, Imfinzi, Iressa, Lynparza, Nolvadex, Tagrisso, and Zoladex for oncology diseases; Atacand1/Atacand HCT/Atacand Plus, Brilinta/Brilique, Crestor2, Plendil, Seloken/Toprol-XL4, Tenormin5, and Zestril6 for cardiovascular diseases; and Bydureon, Byetta, Farxiga/Forxiga, Kombiglyze XR, Komboglyze, Onglyza, Qtern, Symlin, Xigduo, and Xigduo XR for metabolic diseases.

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