AstraZeneca (NASDAQ:AZN) Shares Gap Down Following Weak Earnings

AstraZeneca PLC (NASDAQ:AZNGet Free Report)’s stock price gapped down before the market opened on Thursday following a dissappointing earnings announcement. The stock had previously closed at $66.55, but opened at $62.02. AstraZeneca shares last traded at $62.20, with a volume of 4,237,471 shares changing hands.

The company reported $0.73 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.01). AstraZeneca had a return on equity of 30.67% and a net margin of 13.00%. The company had revenue of $12.02 billion during the quarter, compared to the consensus estimate of $12.07 billion. During the same quarter last year, the firm posted $0.69 EPS. The firm’s quarterly revenue was up 7.3% on a year-over-year basis.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on AZN. Jefferies Financial Group downgraded shares of AstraZeneca from a “buy” rating to a “hold” rating in a report on Wednesday, January 3rd. Deutsche Bank Aktiengesellschaft downgraded shares of AstraZeneca from a “hold” rating to a “sell” rating in a report on Thursday. Morgan Stanley began coverage on shares of AstraZeneca in a report on Tuesday, January 23rd. They set an “overweight” rating for the company. Finally, HSBC began coverage on shares of AstraZeneca in a report on Monday, December 18th. They set a “buy” rating for the company. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, AstraZeneca presently has an average rating of “Moderate Buy” and a consensus target price of $80.00.

View Our Latest Research Report on AstraZeneca

Institutional Investors Weigh In On AstraZeneca

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Nomura Asset Management Co. Ltd. raised its holdings in AstraZeneca by 3.1% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 61,530 shares of the company’s stock worth $4,144,000 after buying an additional 1,876 shares during the period. Advisory Services Network LLC grew its stake in shares of AstraZeneca by 47.7% in the 4th quarter. Advisory Services Network LLC now owns 13,813 shares of the company’s stock valued at $930,000 after buying an additional 4,459 shares in the last quarter. Orion Portfolio Solutions LLC grew its stake in shares of AstraZeneca by 10.7% in the 4th quarter. Orion Portfolio Solutions LLC now owns 140,712 shares of the company’s stock valued at $9,739,000 after buying an additional 13,605 shares in the last quarter. SageView Advisory Group LLC bought a new stake in shares of AstraZeneca in the 4th quarter valued at approximately $436,000. Finally, US Bancorp DE grew its stake in shares of AstraZeneca by 20.1% in the 4th quarter. US Bancorp DE now owns 186,629 shares of the company’s stock valued at $12,570,000 after buying an additional 31,252 shares in the last quarter. 15.68% of the stock is currently owned by institutional investors.

AstraZeneca Trading Down 2.0 %

The firm has a market cap of $193.03 billion, a P/E ratio of 32.43, a PEG ratio of 1.15 and a beta of 0.52. The company has a 50 day moving average of $66.50 and a 200 day moving average of $66.73. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.60 and a current ratio of 0.79.

AstraZeneca Company Profile

(Get Free Report)

AstraZeneca PLC, a biopharmaceutical company, focuses on the discovery, development, manufacture, andcommercialization of prescription medicines. The company's marketed products include Calquence, Enhertu, Faslodex, Imfinzi, Iressa, Koselugo, Lumoxiti, Lynparza, Orpathys, Tagrisso, and Zoladex for oncology; Andexxa/Ondexxya, Atacand, Atacand HCT, Atacand Plus, Brilinta/Brilique, Bydureon/Byetta, BCise, Byetta, Crestor, Evrenzo, Farxiga/Forxiga, Komboglyze/Kombiglyze XR, Lokelma, Onglyza, Qtern, Xigduo/Xigduo, and Zestril XR for cardiovascular, renal, and metabolism diseases; Accolate, Accoleit, Vanticon, Bevespi Aerosphere, Breztri Aerosphere, Bricanyl Respules and Turbuhaler, Daliresp/Daxas, Duaklir Genuair, Fasenra, Pulmicort, Rhinocort, Saphnelo, Symbicort, and Tezspire for respiratory and immunology; and Kanuma, Soliris, Strensiq, and Ultomiris for rare diseases.

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