Astrazeneca Plc (NYSE:AZN – Get Free Report) gapped down before the market opened on Monday . The stock had previously closed at $169.64, but opened at $157.16. Astrazeneca shares last traded at $156.3930, with a volume of 2,482,363 shares traded.
Trending Headlines about Astrazeneca
Here are the key news stories impacting Astrazeneca this week:
- Positive Sentiment: A combination could significantly expand AstraZeneca’s scale, product portfolio and presence in the U.S., potentially creating long-term cost and revenue synergies. Bristol Myers Squibb shares rose as investors focused on the possibility of a takeover premium. Bristol Myers Squibb Stock Soars on Report of $400 Billion Merger Talks With AstraZeneca
- Neutral Sentiment: The discussions are reportedly exploratory, and there is no certainty that the companies will reach an agreement. The reports originated with the Financial Times and cited people familiar with the matter. AstraZeneca holds talks with Bristol Myers Squibb on potential megadeal
- Negative Sentiment: Investors appear concerned that acquiring Bristol Myers Squibb would be expensive and difficult to integrate. Analysts questioned the strategic rationale, with Jefferies reportedly describing the prospect as “more than a head scratcher.” The transaction could also require substantial new debt, stock issuance or both, increasing financial and execution risk. Analysts baffled by AstraZeneca’s interest in Bristol Myers Squibb
- Negative Sentiment: The merger reports overshadowed AstraZeneca’s otherwise solid recent earnings performance, which included quarterly EPS above consensus and year-over-year revenue growth. The market is instead pricing in uncertainty surrounding deal valuation, financing, regulatory approval and potential shareholder dilution. AstraZeneca shares drop after report on merger talks
Analysts Set New Price Targets
A number of research analysts recently commented on the company. Weiss Ratings downgraded Astrazeneca from a “buy (b-)” rating to a “hold (c+)” rating in a report on Tuesday, July 28th. HSBC lowered Astrazeneca from a “buy” rating to a “hold” rating in a research report on Monday, July 13th. Jefferies Financial Group reissued a “buy” rating on shares of Astrazeneca in a research report on Friday, June 26th. DZ Bank upgraded shares of Astrazeneca from a “neutral” rating to a “buy” rating in a research note on Wednesday, April 29th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “sell” rating on shares of Astrazeneca in a research note on Tuesday, June 30th. Twelve equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $211.00.
Astrazeneca Stock Down 8.1%
The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.67 and a current ratio of 0.89. The firm has a market capitalization of $241.87 billion, a P/E ratio of 23.13, a P/E/G ratio of 1.47 and a beta of 0.24. The stock has a fifty day moving average price of $179.02 and a two-hundred day moving average price of $187.83.
Astrazeneca (NYSE:AZN – Get Free Report) last posted its quarterly earnings results on Monday, July 27th. The company reported $2.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.50 by $0.13. The business had revenue of $15.38 billion for the quarter, compared to analyst estimates of $15.44 billion. Astrazeneca had a return on equity of 31.45% and a net margin of 17.02%.The business’s revenue was up 6.4% compared to the same quarter last year. During the same period in the prior year, the company posted $2.17 EPS. Research analysts forecast that Astrazeneca Plc will post 10.22 EPS for the current year.
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently modified their holdings of AZN. Pursuit Wealth Management LLC acquired a new position in shares of Astrazeneca during the fourth quarter valued at $636,000. Penobscot Investment Management Company Inc. increased its holdings in shares of Astrazeneca by 17.2% in the 4th quarter. Penobscot Investment Management Company Inc. now owns 83,539 shares of the company’s stock worth $7,680,000 after acquiring an additional 12,255 shares during the period. Assetmark Inc. increased its holdings in shares of Astrazeneca by 8.1% in the 4th quarter. Assetmark Inc. now owns 335,387 shares of the company’s stock worth $30,832,000 after acquiring an additional 25,004 shares during the period. Aaron Wealth Advisors LLC lifted its position in Astrazeneca by 31.9% in the 4th quarter. Aaron Wealth Advisors LLC now owns 27,984 shares of the company’s stock valued at $2,573,000 after purchasing an additional 6,769 shares during the last quarter. Finally, Cambiar Investors LLC lifted its position in Astrazeneca by 2.0% in the 4th quarter. Cambiar Investors LLC now owns 276,150 shares of the company’s stock valued at $25,386,000 after purchasing an additional 5,326 shares during the last quarter. 20.35% of the stock is owned by institutional investors and hedge funds.
Astrazeneca Company Profile
AstraZeneca plc is a global biopharmaceutical company headquartered in Cambridge, England. Formed through the 1999 merger of Sweden’s Astra AB and the UK’s Zeneca Group, the company researches, develops, manufactures and commercializes prescription medicines across a range of therapeutic areas. AstraZeneca positions itself as R&D-driven, investing in discovery science, clinical development and regulatory processes to bring new therapies to market.
The company’s commercial portfolio and late-stage pipeline emphasize oncology, cardiovascular, renal and metabolic (CVRM) diseases, and respiratory and immunology.
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