AstraZeneca PLC (NASDAQ:AZN) Shares Acquired by CIBC Asset Management Inc

CIBC Asset Management Inc grew its position in AstraZeneca PLC (NASDAQ:AZN - Free Report) by 5.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 223,618 shares of the company's stock after purchasing an additional 11,892 shares during the quarter. CIBC Asset Management Inc's holdings in AstraZeneca were worth $15,061,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of AZN. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its holdings in shares of AstraZeneca by 29.9% in the 3rd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 32,304 shares of the company's stock valued at $2,188,000 after purchasing an additional 7,439 shares in the last quarter. Jump Financial LLC acquired a new stake in AstraZeneca during the 3rd quarter worth $360,000. New York State Common Retirement Fund raised its stake in AstraZeneca by 122.1% during the 3rd quarter. New York State Common Retirement Fund now owns 159,349 shares of the company's stock worth $10,791,000 after acquiring an additional 87,594 shares in the last quarter. Kingsview Wealth Management LLC raised its stake in AstraZeneca by 22.4% during the 3rd quarter. Kingsview Wealth Management LLC now owns 6,299 shares of the company's stock worth $427,000 after acquiring an additional 1,152 shares in the last quarter. Finally, Oppenheimer & Co. Inc. raised its stake in AstraZeneca by 51.8% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 14,424 shares of the company's stock worth $977,000 after acquiring an additional 4,919 shares in the last quarter. 20.35% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. BMO Capital Markets lifted their price target on shares of AstraZeneca from $80.00 to $82.00 and gave the stock an "outperform" rating in a research note on Friday, April 26th. Argus lifted their price target on shares of AstraZeneca from $80.00 to $85.00 and gave the stock a "buy" rating in a research note on Thursday, May 30th. Deutsche Bank Aktiengesellschaft upgraded shares of AstraZeneca from a "sell" rating to a "hold" rating in a research note on Tuesday, April 16th. Finally, The Goldman Sachs Group assumed coverage on shares of AstraZeneca in a research report on Thursday, May 30th. They set a "buy" rating and a $97.00 price objective on the stock. Three research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $88.00.

AstraZeneca Stock Performance

AstraZeneca stock traded up $1.03 during midday trading on Tuesday, hitting $80.02. 3,943,723 shares of the company's stock were exchanged, compared to its average volume of 5,950,363. AstraZeneca PLC has a 12-month low of $60.47 and a 12-month high of $80.07. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.70 and a current ratio of 0.89. The stock has a market cap of $248.10 billion, a price-to-earnings ratio of 39.23, a price-to-earnings-growth ratio of 1.40 and a beta of 0.48. The firm's 50 day simple moving average is $73.46 and its 200 day simple moving average is $68.49.

AstraZeneca (NASDAQ:AZN - Get Free Report) last issued its earnings results on Thursday, April 25th. The company reported $1.03 earnings per share for the quarter, beating the consensus estimate of $0.95 by $0.08. The business had revenue of $12.68 billion for the quarter, compared to the consensus estimate of $11.92 billion. AstraZeneca had a net margin of 13.30% and a return on equity of 30.42%. Equities research analysts predict that AstraZeneca PLC will post 4.04 EPS for the current year.

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.