AlphaValue took its AstraZeneca PLC [NASDAQ:AZN] rating to the equivalent of Add from Reduce, in a research note dated December 30, 2020. Other analysts also revised their coverage, with Morgan Stanley’s analysts upgrading the shares from ”an Equal-weight” rating to “an Overweight” rating in a research note to investors issued in early December. Meanwhile, UBS had raised its rating on AZN to ”Neutral” from the earlier “Sell”, in a research note produced for clients November 30, 2020. In addition, there was an upgrade from HSBC Securities on November 11, 2020. The rater changed AZN from “a Reduce” to “a Hold”.
Is AstraZeneca PLC [NASDAQ:AZN] a Good Buy Right Now?
It should be noted that AZN technical indicators for short, intermediate as well as long term progress have placed an overall average of 72% as Sell. The average signal changed from 56% Sell in the last week and compares with 16% Sell in the past month. Data from AstraZeneca PLC’s Trend Spotter indicated that the signals were Weakest. The stock current average is 13.81 million shares in the past 20 days and the short term average signal indicates a 100% Sell. In the last 50 days, the average trading volume was 9.26 million shares while the medium term average advocated for 50% Sell. The average long-term signal stands at 50% Sell and the 100-day average volume stands at 6.69 million shares.
AZN Price Performance
On Wall Street, AstraZeneca PLC [NASDAQ:AZN] finished Tuesday’s session up 1.05% at $49.90. The stock went up to $50.7001 at the same session while its lowest single day price was $49.785. In the last five days, it saw a rise of about 0.44%, AstraZeneca PLC shares gained by almost 0.08% since the beginning of the year. However, the share price has dropped to as low as -23.16% below its one year high. On 07/20/20, the company shares recorded $64.94, the highest single-day price it has got to in the last 52-weeks and a 52-week low was seen on 03/16/20, the same year at $36.15. The company’s shares have declined by -0.22% in the past year. The 50-day SMA achieved is $52.83 while the 200-day SMA is $52.78. Volume gained to 17.31 million from 15.48 million in the previous session.
AstraZeneca PLC [AZN] Valuation Measures
Notably, AstraZeneca PLC [AZN] stock cannot be classified as a good candidate in the listing of underestimated low-priced Drug Manufacturers – General companies to purchase soonest possible with the prevailing 12-month PE ratio of 52.47. The measure means the stock is exchanging at a premium as compared to the 24.38x trailing earnings of the industry. It can be helpful for investors to consider historical price-sales ratio, more specifically, a 5.03 PS value ratio is reported for the last one year of reported earnings. That is higher than the industry average of 2.83 which means AZN serve an unattractive investment opportunity compared to its competitors.
AZN Stock Support And Resistance Levels
On the 24-hour scale, the immediate backing is perceived around 49.56 level, and in case of violation of this particular level, it will cause more drop to 49.21 level. On the upper level, 51.04 is still the key resistance. The stock may increase to the subsequent resistance at 50.47. The Relative Strength Index (RSI) pinned on the 14-day chart is 40.62, implying a neutral technical stance while the MACD stands at -1.45, meaning price will decrease in the next trading period. Percent R indicator moved to 74.73%, implying bearish price movement. Stochastic %K at 15.97% suggest selling the stock.
What is the short interest in AstraZeneca PLC?
Short interest in the AstraZeneca PLC stock has surged, increasing by 2.83 million shares to total 3.46 million shares on Dec 14, 2020. The interest had seen shares on Nov 12, 2020 stand at 6.29 million, data from Yahoo Finance shows. The decrease of -81.79% suggests the stock saw some decreased bullish sentiment.
AstraZeneca PLC’s Biggest Shareholders: Who Owns AstraZeneca PLC [AZN]?
Filings by Wellington Management Co. LLP showed that the firm now holds a total of 52,093,683 shares or roughly 1.99% of the outstanding AZN shares. This means their shares have reduced by -2,450,834 from the 52,093,683 the investor reportedly held in its prior 13-F filing. With the conclusion of the sale, PRIMECAP Management Co. updated stake is worth $2,726,307,349. Details in the latest 13F filings reveal that Fidelity Management & Research Co disposed off their -7.19% stake valued at $2,273,213,212 while Jennison Associates LLC cut theirs at $1,643,017,147. During the last quarter, Fidelity Management & Research Co liquidated -3,328,789 of its shares in AstraZeneca PLC while Jennison Associates LLC sold -8,098,278 shares. The Capital Research & Management Co’s holdings currently number 29,249,466 shares at $1459548353.4. According to the firm’s last 13F report, Fisher Asset Management LLC shares in the company at filing stood at 17,342,680 shares, roughly $918,121,479.
AZN Earnings Forecast For The Current Quarter
AstraZeneca PLC [AZN] is expected to report strong earnings results for the quarter ending on Dec 2020. Consensus estimates give the company expected revenues of $7.01B and an earnings per share of $0.64 for Dec 2020. Looking further ahead, the company is expected to report revenue of $6.82B at an EPS of $0 for Mar 2021. The estimates represent upside of 15.20% and 20.12% in the company’s revenue and earnings per share, respectively, on a year-on-year basis.
AZN Earnings Estimates For The Current Year
For the financial year, AstraZeneca PLC [NASDAQ:AZN] is expected to bring in revenue of $26.24B. The returns are nearly $1.86 billion higher than the company’s actual revenue recorded in the fiscal year 2019. In terms of EPS for the 2020, estimate put it at 2.47, higher than that of FY19 by $0.72. Estimates put this year’s earnings growth at 41.10%, 20.20% for the next, and at an annual 19.20% over the next 5-year period. As for sales, forecasts are for an increase of 7.60% in the current fiscal year and a further 15.20% over the following year.