Q3 EPS Estimates for AstraZeneca Reduced by Leerink Partnrs

AstraZeneca PLC (NASDAQ:AZN) – Equities research analysts at Leerink Partnrs cut their Q3 2024 EPS estimates for AstraZeneca in a research report issued to clients and investors on Monday, October 28th. Leerink Partnrs analyst A. Berens now forecasts that the company will post earnings of $1.02 per share for the quarter, down from their prior estimate of $1.09. The consensus estimate for AstraZeneca’s current full-year earnings is $4.07 per share. Leerink Partnrs also issued estimates for AstraZeneca’s FY2024 earnings at $4.10 EPS.

Other equities research analysts have also recently issued research reports about the stock. Deutsche Bank Aktiengesellschaft cut shares of AstraZeneca from a “hold” rating to a “sell” rating in a research report on Friday, September 13th. Erste Group Bank raised shares of AstraZeneca from a “hold” rating to a “buy” rating in a research report on Wednesday, September 11th. Finally, TD Cowen upped 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. One investment analyst has rated the stock with a sell rating, one has given a hold rating, seven have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $89.75.

AstraZeneca Trading Down 3.2 %

AZN opened at $72.83 on Wednesday. AstraZeneca has a twelve month low of $60.47 and a twelve month high of $87.68. The company has a 50-day simple moving average of $79.77 and a 200 day simple moving average of $78.64. The company has a quick ratio of 0.69, a current ratio of 0.89 and a debt-to-equity ratio of 0.69. The stock has a market capitalization of $225.82 billion, a price-to-earnings ratio of 35.18, a P/E/G ratio of 1.39 and a beta of 0.46.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in AZN. Stratos Wealth Advisors LLC increased its stake in shares of AstraZeneca by 2.0% in the third quarter. Stratos Wealth Advisors LLC now owns 6,699 shares of the company’s stock valued at $522,000 after buying an additional 133 shares during the period. Bruce G. Allen Investments LLC increased its stake in shares of AstraZeneca by 19.1% in the second quarter. Bruce G. Allen Investments LLC now owns 860 shares of the company’s stock valued at $67,000 after buying an additional 138 shares during the period. Carnegie Investment Counsel raised its stake in shares of AstraZeneca by 0.8% during the second quarter. Carnegie Investment Counsel now owns 17,269 shares of the company’s stock valued at $1,347,000 after acquiring an additional 138 shares during the last quarter. CANADA LIFE ASSURANCE Co increased its holdings in AstraZeneca by 40.6% in the first quarter. CANADA LIFE ASSURANCE Co now owns 506 shares of the company’s stock valued at $34,000 after purchasing an additional 146 shares during the period. Finally, Sunpointe LLC raised its position in AstraZeneca by 4.5% during the 2nd quarter. Sunpointe LLC now owns 3,419 shares of the company’s stock worth $267,000 after purchasing an additional 147 shares during the last quarter. Institutional investors own 20.35% of the company’s stock.

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.