Leerink Partnrs Raises Earnings Estimates for AstraZeneca

AstraZeneca PLC (NASDAQ:AZN) – Leerink Partnrs lifted their FY2024 EPS estimates for AstraZeneca in a research note issued to investors on Monday, November 18th. Leerink Partnrs analyst A. Berens now forecasts that the company will post earnings per share of $4.28 for the year, up from their prior forecast of $4.10. The consensus estimate for AstraZeneca’s current full-year earnings is $4.07 per share. Leerink Partnrs also issued estimates for AstraZeneca’s Q4 2024 earnings at $1.21 EPS.

Other analysts also recently issued research reports about the stock. TD Cowen boosted their price objective on shares of AstraZeneca from $90.00 to $95.00 and gave the stock a “buy” rating in a research report on Monday, August 12th. UBS Group raised shares of AstraZeneca from a “sell” rating to a “neutral” rating in a research note on Wednesday. Deutsche Bank Aktiengesellschaft raised shares of AstraZeneca from a “sell” rating to a “hold” rating in a research note on Wednesday, November 6th. Finally, Erste Group Bank raised shares of AstraZeneca from a “hold” rating to a “buy” rating in a research note on Wednesday, September 11th. Three research analysts have rated the stock with a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $89.75.

AstraZeneca Stock Down 0.9 %

Shares of AstraZeneca stock opened at $63.20 on Wednesday. AstraZeneca has a 52-week low of $60.47 and a 52-week high of $87.68. The company has a 50 day moving average of $73.99 and a 200 day moving average of $77.95. The company has a quick ratio of 0.71, a current ratio of 0.93 and a debt-to-equity ratio of 0.71. The company has a market capitalization of $195.96 billion, a P/E ratio of 30.24, a P/E/G ratio of 1.17 and a beta of 0.47.

AstraZeneca (NASDAQ:AZN) last announced its quarterly earnings data on Tuesday, November 12th. The company reported $1.04 earnings per share for the quarter, beating analysts’ consensus estimates of $1.01 by $0.03. The firm had revenue of $13.57 billion during the quarter, compared to analysts’ expectations of $13.08 billion. AstraZeneca had a net margin of 12.68% and a return on equity of 30.01%. The business’s quarterly revenue was up 18.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.87 earnings per share.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Price T Rowe Associates Inc. MD increased its position in AstraZeneca by 17.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 61,271,974 shares of the company’s stock worth $4,151,177,000 after purchasing an additional 9,002,450 shares in the last quarter. FMR LLC lifted its stake in AstraZeneca by 1.1% during the third quarter. FMR LLC now owns 23,117,447 shares of the company’s stock worth $1,801,080,000 after purchasing an additional 258,477 shares during the last quarter. Fisher Asset Management LLC lifted its stake in AstraZeneca by 5.3% in the third quarter. Fisher Asset Management LLC now owns 10,480,160 shares of the company’s stock valued at $816,509,000 after buying an additional 524,175 shares during the last quarter. Capital World Investors boosted its holdings in shares of AstraZeneca by 0.3% during the first quarter. Capital World Investors now owns 9,365,676 shares of the company’s stock valued at $634,525,000 after acquiring an additional 29,497 shares during the period. Finally, Envestnet Asset Management Inc. lifted its holdings in AstraZeneca by 16.7% in the second quarter. Envestnet Asset Management Inc. now owns 3,417,933 shares of the company’s stock worth $266,565,000 after purchasing an additional 488,644 shares during the period. 20.35% of the stock is currently owned by hedge funds and other institutional investors.

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.