Deutsche Bank Aktiengesellschaft Downgrades AstraZeneca (NASDAQ:AZN) to Sell

Deutsche Bank Aktiengesellschaft lowered shares of AstraZeneca (NASDAQ:AZN) from a hold rating to a sell rating in a report released on Friday, Marketbeat Ratings reports.

A number of other equities research analysts also recently issued reports on the company. The Goldman Sachs Group initiated coverage on AstraZeneca in a research report on Thursday, May 30th. They issued a buy rating and a $97.00 price objective on the stock. Barclays upgraded AstraZeneca to a strong-buy rating in a research report on Monday, June 24th. Erste Group Bank upgraded AstraZeneca from a hold rating to a buy rating in a research report on Wednesday, September 11th. Argus increased their price objective on AstraZeneca from $80.00 to $85.00 and gave the stock a buy rating in a research report on Thursday, May 30th. Finally, TD Cowen increased their price objective on AstraZeneca from $90.00 to $95.00 and gave the stock a buy rating in a research report on Monday, August 12th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, seven have issued a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of Buy and a consensus target price of $89.75.

AstraZeneca Price Performance

AstraZeneca stock opened at $79.04 on Friday. AstraZeneca has a 12 month low of $60.47 and a 12 month high of $87.68. 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 business’s 50 day simple moving average is $81.75 and its 200 day simple moving average is $76.35. The company has a market cap of $245.07 billion, a price-to-earnings ratio of 38.75, a PEG ratio of 1.49 and a beta of 0.47.

AstraZeneca (NASDAQ:AZN) last posted its quarterly earnings data on Thursday, July 25th. The company reported $0.99 EPS for the quarter, beating the consensus estimate of $0.98 by $0.01. The business had revenue of $12.45 billion for the quarter, compared to the consensus estimate of $12.62 billion. AstraZeneca had a return on equity of 29.34% and a net margin of 13.11%. AstraZeneca’s revenue for the quarter was up 9.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.08 earnings per share. Sell-side analysts forecast that AstraZeneca will post 4.05 EPS for the current year.

AstraZeneca Cuts Dividend

The company also recently announced a Semi-Annual dividend, which was paid on Monday, September 9th. Investors of record on Friday, August 9th were paid a $0.49 dividend. The ex-dividend date of this dividend was Friday, August 9th. This represents a yield of 1.8%. AstraZeneca’s dividend payout ratio is presently 48.04%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Point72 Asia Singapore Pte. Ltd. grew its stake in shares of AstraZeneca by 122.4% during the second quarter. Point72 Asia Singapore Pte. Ltd. now owns 1,728 shares of the company’s stock valued at $135,000 after buying an additional 951 shares during the last quarter. American Trust boosted its holdings in shares of AstraZeneca by 27.9% during the second quarter. American Trust now owns 4,387 shares of the company’s stock worth $342,000 after purchasing an additional 957 shares during the period. Heritage Wealth Management Inc. purchased a new stake in shares of AstraZeneca during the second quarter worth about $688,000. Sanctuary Advisors LLC purchased a new stake in shares of AstraZeneca during the second quarter worth about $12,546,000. Finally, Strategic Investment Solutions Inc. IL purchased a new stake in shares of AstraZeneca during the second quarter worth about $362,000. 20.35% of the stock is owned by institutional investors.

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.