AstraZeneca plc (NYSE:AZN) Short Interest Update

AstraZeneca plc (NYSE:AZN) was the target of a large decline in short interest in the month of June. As of June 15th, there was short interest totalling 11,974,200 shares, a decline of 5.1% from the May 15th total of 12,619,400 shares. Approximately 0.5% of the shares of the company are short sold. Based on an average daily volume of 4,620,000 shares, the days-to-cover ratio is presently 2.6 days.

Several large investors have recently made changes to their positions in the business. JGP Global Gestao de Recursos Ltda. bought a new stake in shares of AstraZeneca in the 2nd quarter valued at approximately $307,000. FDx Advisors Inc. grew its stake in shares of AstraZeneca by 182.4% in the 2nd quarter. FDx Advisors Inc. now owns 44,735 shares of the company’s stock valued at $1,847,000 after purchasing an additional 28,896 shares during the period. Focused Wealth Management Inc bought a new stake in AstraZeneca during the 2nd quarter worth approximately $52,000. Bessemer Group Inc. grew its position in AstraZeneca by 47.6% during the 2nd quarter. Bessemer Group Inc. now owns 4,785 shares of the company’s stock worth $198,000 after acquiring an additional 1,543 shares during the last quarter. Finally, Commonwealth Equity Services LLC grew its position in AstraZeneca by 8.7% during the 2nd quarter. Commonwealth Equity Services LLC now owns 137,225 shares of the company’s stock worth $5,664,000 after acquiring an additional 10,933 shares during the last quarter. 18.79% of the stock is owned by institutional investors.

AZN has been the subject of a number of analyst reports. UBS Group set a $169.00 price objective on M&T Bank and gave the company a “hold” rating in a research report on Tuesday, April 2nd. Cowen raised AstraZeneca from a “market perform” rating to an “outperform” rating and lifted their target price for the company from $42.00 to $48.00 in a research note on Monday, April 1st. Pareto Securities raised AstraZeneca from a “sell” rating to a “hold” rating in a research note on Monday, April 29th. ValuEngine downgraded Zumiez from a “hold” rating to a “sell” rating in a research note on Tuesday, July 2nd. Finally, Zacks Investment Research downgraded Great Portland Estates from a “hold” rating to a “sell” rating in a research note on Tuesday, April 16th. Three analysts have rated the stock with a sell rating, three have assigned a hold rating and thirteen have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $45.29.

NYSE AZN traded down $0.61 on Friday, reaching $40.12. The stock had a trading volume of 3,709,634 shares, compared to its average volume of 2,030,993. The firm has a 50 day simple moving average of $40.24. The company has a debt-to-equity ratio of 1.48, a current ratio of 0.75 and a quick ratio of 0.58. AstraZeneca has a 1 year low of $35.30 and a 1 year high of $43.29. The company has a market capitalization of $101.62 billion, a P/E ratio of 11.60, a price-to-earnings-growth ratio of 1.34 and a beta of 0.53.

AstraZeneca (NYSE:AZN) last issued its earnings results on Friday, April 26th. The company reported $0.45 EPS for the quarter, beating analysts’ consensus estimates of $0.43 by $0.02. AstraZeneca had a return on equity of 37.91% and a net margin of 10.75%. The firm had revenue of $5.47 billion for the quarter, compared to the consensus estimate of $5.40 billion. During the same quarter in the previous year, the company posted $0.48 earnings per share. The business’s quarterly revenue was up 9.6% compared to the same quarter last year. On average, research analysts forecast that AstraZeneca will post 1.78 EPS for the current year.

About AstraZeneca

AstraZeneca PLC discovers, develops, and commercializes prescription medicines in the areas of oncology, cardiovascular, renal and metabolism, respiratory, autoimmunity, infection, neuroscience, and gastroenterology worldwide. Its marketed products include Arimidex, Casodex/Cosudex, Calquence, Faslodex, Imfinzi, Iressa, Lynparza, Nolvadex, Tagrisso, and Zoladex for oncology diseases; Atacand1/Atacand HCT/Atacand Plus, Brilinta/Brilique, Crestor, Plendil, Seloken/Toprol-XL, Tenormin, and Zestril for cardiovascular diseases; and Bydureon, Byetta, Farxiga/Forxiga, Kombiglyze XR, Komboglyze, Onglyza, Qtern, Symlin, Xigduo, and Xigduo XR for metabolic diseases.

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