Leerink Swann Lowers Astrazeneca PLC (NYSE:AZN) to Market Perform
Leerink Swann cut shares of Astrazeneca PLC (NYSE:AZN) from an outperform rating to a market perform rating in a research report report published on Thursday, MarketBeat reports. They currently have $31.00 price target on the stock, down from their previous price target of $36.00. Leerink Swann also issued estimates for Astrazeneca PLC’s FY2017 earnings at $1.86 EPS, FY2019 earnings at $1.96 EPS and FY2020 earnings at $2.17 EPS.
AZN has been the topic of a number of other research reports. UBS AG lowered shares of Astrazeneca PLC from a buy rating to a neutral rating and cut their target price for the company from $35.44 to $25.55 in a research report on Wednesday, April 5th. BidaskClub lowered shares of Astrazeneca PLC from a hold rating to a sell rating in a research report on Monday, July 24th. Jefferies Group LLC restated a hold rating on shares of Astrazeneca PLC in a research report on Monday, April 10th. Barclays PLC restated an overweight rating on shares of Astrazeneca PLC in a research report on Thursday, July 13th. Finally, Zacks Investment Research lowered shares of Astrazeneca PLC from a strong-buy rating to a sell rating in a research report on Monday, July 17th. Four investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and ten have issued a buy rating to the company. Astrazeneca PLC presently has a consensus rating of Hold and an average price target of $33.39.
Astrazeneca PLC (NYSE AZN) opened at 30.27 on Thursday. The stock has a 50 day moving average of $33.80 and a 200-day moving average of $31.30. The company has a market cap of $76.64 billion, a PE ratio of 19.86 and a beta of 0.77. Astrazeneca PLC has a 1-year low of $25.55 and a 1-year high of $35.60.
Astrazeneca PLC (NYSE:AZN) last posted its quarterly earnings results on Thursday, July 27th. The company reported $0.87 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.41 by $0.46. The business had revenue of $5.05 billion for the quarter, compared to analyst estimates of $5.04 billion. Astrazeneca PLC had a net margin of 17.80% and a return on equity of 35.90%. The firm’s revenue for the quarter was down 9.9% on a year-over-year basis. During the same quarter last year, the business posted $0.83 EPS. On average, equities research analysts predict that Astrazeneca PLC will post $1.85 earnings per share for the current year.
WARNING: “Leerink Swann Lowers Astrazeneca PLC (NYSE:AZN) to Market Perform” was first posted by Watch List News and is owned by of Watch List News. If you are reading this piece on another publication, it was copied illegally and reposted in violation of U.S. & international copyright & trademark law. The original version of this piece can be viewed at https://www.watchlistnews.com/leerink-swann-lowers-astrazeneca-plc-nyseazn-to-market-perform/1463492.html.
A number of institutional investors have recently made changes to their positions in AZN. Oliver Luxxe Assets LLC increased its position in shares of Astrazeneca PLC by 3.2% in the first quarter. Oliver Luxxe Assets LLC now owns 119,085 shares of the company’s stock worth $3,708,000 after buying an additional 3,662 shares in the last quarter. PVG Asset Management Corp purchased a new position in shares of Astrazeneca PLC during the first quarter worth $8,242,000. Teachers Advisors LLC increased its position in shares of Astrazeneca PLC by 4.0% in the fourth quarter. Teachers Advisors LLC now owns 787,179 shares of the company’s stock worth $21,506,000 after buying an additional 30,104 shares in the last quarter. Liberty Mutual Group Asset Management Inc. purchased a new position in shares of Astrazeneca PLC during the first quarter worth $890,000. Finally, Wells Fargo & Company MN increased its position in shares of Astrazeneca PLC by 41.6% in the first quarter. Wells Fargo & Company MN now owns 4,068,018 shares of the company’s stock worth $126,678,000 after buying an additional 1,195,361 shares in the last quarter. 14.39% of the stock is owned by institutional investors and hedge funds.
About Astrazeneca PLC
AstraZeneca PLC (AstraZeneca) is a biopharmaceutical company. The Company focuses on discovery and development of products, which are then manufactured, marketed and sold. The Company focuses on three main therapy areas: Oncology, Cardiovascular & Metabolic Disease (CVMD) and Respiratory, while selectively pursuing therapies in Autoimmunity, Infection and Neuroscience.
Receive News & Ratings for Astrazeneca PLC Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Astrazeneca PLC and related companies with Analyst Ratings Network's FREE daily email newsletter.