AstraZeneca (NASDAQ:AZN) Downgraded to “Sell” at Deutsche Bank Aktiengesellschaft

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

Several other research firms also recently weighed in on AZN. Barclays raised AstraZeneca to a strong-buy rating in a report on Monday, June 24th. Erste Group Bank upgraded shares of AstraZeneca from a hold rating to a buy rating in a research report on Wednesday. Citigroup upgraded shares of AstraZeneca to a strong-buy rating in a research report on Monday, June 24th. Argus increased their price objective on AstraZeneca from $80.00 to $85.00 and gave the company a buy rating in a research note on Thursday, May 30th. Finally, The Goldman Sachs Group started coverage on AstraZeneca in a report on Thursday, May 30th. They issued a buy rating and a $97.00 price target for the company. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, seven have issued a buy rating and three have given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of Buy and a consensus target price of $89.75.

AstraZeneca Stock Down 0.9 %

NASDAQ:AZN opened at $78.27 on Friday. The firm has a market cap of $242.68 billion, a PE ratio of 38.37, a price-to-earnings-growth ratio of 1.49 and a beta of 0.47. The company has a 50-day moving average of $81.71 and a 200 day moving average of $76.10. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.89 and a quick ratio of 0.69. AstraZeneca has a 1-year low of $60.47 and a 1-year high of $87.68.

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

AstraZeneca Cuts Dividend

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

Institutional Investors Weigh In On AstraZeneca

A number of large investors have recently made changes to their positions in AZN. Price T Rowe Associates Inc. MD raised its position in shares of AstraZeneca by 17.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 61,271,974 shares of the company’s stock valued at $4,151,177,000 after purchasing an additional 9,002,450 shares during the period. Sanders Capital LLC boosted its stake in AstraZeneca by 39.0% during the fourth quarter. Sanders Capital LLC now owns 14,684,066 shares of the company’s stock worth $988,972,000 after buying an additional 4,122,965 shares in the last quarter. Swedbank AB bought a new stake in AstraZeneca in the 1st quarter valued at $186,127,000. Manning & Napier Advisors LLC bought a new stake in AstraZeneca in the 2nd quarter valued at $188,476,000. Finally, Norges Bank acquired a new position in shares of AstraZeneca in the 4th quarter valued at $143,999,000. Institutional investors and hedge funds 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.