CIBC Asset Management Inc Purchases 5,269 Shares of AstraZeneca PLC (NASDAQ:AZN)

CIBC Asset Management Inc boosted its position in shares of AstraZeneca PLC (NASDAQ:AZN) by 2.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 238,268 shares of the company’s stock after acquiring an additional 5,269 shares during the period. CIBC Asset Management Inc’s holdings in AstraZeneca were worth $18,563,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. McClarren Financial Advisors Inc. grew its position in AstraZeneca by 320.8% in the 3rd quarter. McClarren Financial Advisors Inc. now owns 324 shares of the company’s stock worth $25,000 after purchasing an additional 247 shares during the last quarter. GHP Investment Advisors Inc. bought a new stake in shares of AstraZeneca during the second quarter valued at approximately $26,000. Capital Performance Advisors LLP acquired a new position in shares of AstraZeneca in the third quarter valued at $28,000. Pathway Financial Advisers LLC acquired a new stake in AstraZeneca during the first quarter worth $29,000. Finally, CANADA LIFE ASSURANCE Co increased its holdings in AstraZeneca by 40.6% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 506 shares of the company’s stock valued at $34,000 after buying an additional 146 shares during the period. 20.35% of the stock is currently owned by institutional investors.

AstraZeneca Trading Down 2.8 %

Shares of NASDAQ:AZN opened at $63.23 on Friday. The stock has a market capitalization of $196.05 billion, a PE ratio of 30.25, a price-to-earnings-growth ratio of 1.20 and a beta of 0.47. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.93 and a quick ratio of 0.69. AstraZeneca PLC has a one year low of $60.47 and a one year high of $87.68. The company’s 50-day moving average price is $75.03 and its two-hundred day moving average price is $78.20.

AstraZeneca (NASDAQ:AZN) last issued its quarterly earnings data on Tuesday, November 12th. The company reported $1.04 EPS for the quarter, beating analysts’ consensus estimates of $1.01 by $0.03. The firm had revenue of $13.57 billion for the quarter, compared to analyst estimates of $13.08 billion. AstraZeneca had a return on equity of 30.01% and a net margin of 12.68%. The company’s revenue for the quarter was up 18.0% on a year-over-year basis. During the same period in the prior year, the firm posted $0.87 EPS. On average, equities analysts forecast that AstraZeneca PLC will post 4.07 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

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

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.