Is AstraZeneca Stock a Buy?
U.K.-based pharmaceutical giant (NASDAQ: AZN) is making news, but not in a good way. Its operations in China were recently rocked when Leon Wang, the company's president in the country -- as well as several other top executives -- were arrested following fraud-related investigations by the authorities. AstraZeneca expects a sales hit in China, one of its most important international markets.
The drugmaker's issues in China have weighed heavily on its performance of late, and its stock is down by about 3% year to date. Amid all that, should you purchase shares of AstraZeneca?
AstraZeneca's shares performed well for much of the year. That's partly because the company has been delivering strong financial results. In the third quarter, revenue increased by 18% year over year to $13.6 billion. Adjusted earnings per share were $2.08, 20% higher than the year-ago period. AstraZeneca's oncology business is arguably its most important; it racked up $5.6 billion in sales during the third quarter, up 19% compared to the prior-year quarter.
Source Fool.com
