AstraZeneca PLC (NASDAQ:AZN) Short Interest Down 29.5% in September

AstraZeneca PLC (NASDAQ:AZN) was the target of a significant drop in short interest during the month of September. As of September 30th, there was short interest totaling 5,460,000 shares, a drop of 29.5% from the September 15th total of 7,740,000 shares. Based on an average daily volume of 4,770,000 shares, the short-interest ratio is presently 1.1 days. Based on an average daily volume of 4,770,000 shares, the short-interest ratio is presently 1.1 days.

Hedge Funds Weigh In On AstraZeneca

Large investors have recently bought and sold shares of the business. Chapin Davis Inc. increased its position in shares of AstraZeneca by 3.3% during the third quarter. Chapin Davis Inc. now owns 3,795 shares of the company’s stock worth $291,000 after purchasing an additional 120 shares in the last quarter. CoreCap Advisors LLC increased its position in shares of AstraZeneca by 30.6% during the third quarter. CoreCap Advisors LLC now owns 534 shares of the company’s stock worth $41,000 after purchasing an additional 125 shares in the last quarter. Highline Wealth Partners LLC increased its position in shares of AstraZeneca by 32.0% during the third quarter. Highline Wealth Partners LLC now owns 532 shares of the company’s stock worth $41,000 after purchasing an additional 129 shares in the last quarter. Aaron Wealth Advisors LLC increased its position in shares of AstraZeneca by 0.6% during the third quarter. Aaron Wealth Advisors LLC now owns 21,215 shares of the company’s stock worth $1,628,000 after purchasing an additional 136 shares in the last quarter. Finally, Lindbrook Capital LLC increased its position in shares of AstraZeneca by 1.9% during the first quarter. Lindbrook Capital LLC now owns 7,574 shares of the company’s stock worth $557,000 after purchasing an additional 141 shares in the last quarter. Institutional investors own 20.35% of the company’s stock.

AstraZeneca Stock Performance

AstraZeneca stock opened at $83.43 on Thursday. The company has a 50 day moving average price of $80.69 and a 200-day moving average price of $74.10. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.67 and a current ratio of 0.86. AstraZeneca has a fifty-two week low of $61.24 and a fifty-two week high of $86.57. The company has a market capitalization of $258.75 billion, a PE ratio of 31.36, a P/E/G ratio of 1.54 and a beta of 0.36.

AstraZeneca (NASDAQ:AZN) last posted its quarterly earnings results on Tuesday, July 29th. The company reported $1.09 earnings per share for the quarter, meeting the consensus estimate of $1.09. AstraZeneca had a net margin of 14.68% and a return on equity of 32.84%. The firm had revenue of $14.46 billion during the quarter, compared to the consensus estimate of $14.08 billion. During the same quarter in the previous year, the firm posted $1.24 earnings per share. The company’s revenue was up 16.1% on a year-over-year basis. As a group, equities analysts forecast that AstraZeneca will post 4.51 earnings per share for the current year.

AstraZeneca Cuts Dividend

The firm also recently disclosed a semi-annual dividend, which was paid on Monday, September 8th. Investors of record on Friday, August 8th were paid a $0.505 dividend. The ex-dividend date of this dividend was Friday, August 8th. This represents a yield of 200.0%. AstraZeneca’s payout ratio is 37.97%.

Wall Street Analyst Weigh In

AZN has been the subject of several analyst reports. Deutsche Bank Aktiengesellschaft downgraded shares of AstraZeneca from a “hold” rating to a “sell” rating in a research note on Thursday, October 16th. Weiss Ratings reissued a “buy (b)” rating on shares of AstraZeneca in a research note on Wednesday, October 8th. Finally, Berenberg Bank set a $97.00 price objective on shares of AstraZeneca in a research note on Wednesday, July 9th. Four investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, AstraZeneca currently has an average rating of “Moderate Buy” and an average price target of $86.00.

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.