AstraZeneca (NYSE:AZN) posted its quarterly earnings data on Thursday. The company reported $0.71 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.33 by $0.38, Briefing.com reports. AstraZeneca had a return on equity of 29.89% and a net margin of 11.98%. The company had revenue of $5.34 billion during the quarter, compared to analyst estimates of $5.26 billion. During the same quarter last year, the company earned $1.12 EPS. The firm’s revenue for the quarter was down 14.3% on a year-over-year basis. AstraZeneca updated its FY 2018 guidance to $3.30-3.50 EPS and its FY18 guidance to $3.30-3.50 EPS.
AZN traded up $1.44 during trading on Thursday, hitting $40.65. 5,475,700 shares of the company’s stock traded hands, compared to its average volume of 4,026,371. The company has a current ratio of 0.72, a quick ratio of 0.54 and a debt-to-equity ratio of 1.08. AstraZeneca has a 12-month low of $31.99 and a 12-month high of $41.28. The company has a market cap of $97.16 billion, a price-to-earnings ratio of 9.50, a P/E/G ratio of 2.05 and a beta of 0.57.
A number of research analysts recently weighed in on AZN shares. Jefferies Financial Group lowered AstraZeneca from a “buy” rating to a “hold” rating in a research report on Thursday, August 16th. ValuEngine lowered AstraZeneca from a “buy” rating to a “hold” rating in a research report on Friday, September 7th. Wolfe Research started coverage on AstraZeneca in a research report on Tuesday, October 23rd. They set an “outperform” rating for the company. Zacks Investment Research lowered AstraZeneca from a “buy” rating to a “hold” rating in a research report on Tuesday, October 16th. Finally, Guggenheim initiated coverage on AstraZeneca in a research report on Monday, October 8th. They set a “buy” rating for the company. Four equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $40.34.
In other AstraZeneca news, major shareholder Plc Astrazeneca bought 246,666 shares of the business’s stock in a transaction 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 document filed with the SEC, which is available at this hyperlink.
Institutional investors and hedge funds have recently modified their holdings of the business. Factorial Partners LLC purchased a new stake in AstraZeneca during the 3rd quarter valued at $119,000. NEXT Financial Group Inc purchased a new position in shares of AstraZeneca in the 3rd quarter worth $169,000. Bessemer Group Inc. boosted its stake 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 during the last quarter. FNY Investment Advisers LLC purchased a new position in shares of AstraZeneca in the 2nd quarter worth $175,000. Finally, Tiverton Asset Management LLC purchased a new position in shares of AstraZeneca in the 2nd quarter worth $178,000. Institutional investors and hedge funds own 16.10% of the company’s stock.
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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.
Further Reading: Understanding Price to Earnings Ratio (PE)
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