CIBC Asset Management Inc Sells 43,635 Shares of AstraZeneca plc (AZN)

CIBC Asset Management Inc reduced its stake in AstraZeneca plc (NYSE:AZN) by 50.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 42,240 shares of the company’s stock after selling 43,635 shares during the quarter. CIBC Asset Management Inc’s holdings in AstraZeneca were worth $1,671,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of AZN. Bessemer Group Inc. lifted its position in shares of AstraZeneca by 64.3% in the second quarter. Bessemer Group Inc. now owns 4,651 shares of the company’s stock valued at $163,000 after acquiring an additional 1,820 shares in the last quarter. NEXT Financial Group Inc purchased a new position in AstraZeneca during the third quarter worth about $169,000. FNY Investment Advisers LLC purchased a new position in AstraZeneca during the second quarter worth about $175,000. Tiverton Asset Management LLC purchased a new position in AstraZeneca during the second quarter worth about $178,000. Finally, Gilman Hill Asset Management LLC purchased a new position in AstraZeneca during the second quarter worth about $205,000. Institutional investors and hedge funds own 16.10% of the company’s stock.

Several equities analysts recently weighed in on AZN shares. Jefferies Financial Group downgraded AstraZeneca from a “buy” rating to a “hold” rating in a research report on Thursday, August 16th. Guggenheim started coverage on AstraZeneca in a research report on Monday, October 8th. They set a “buy” rating on the stock. Zacks Investment Research downgraded AstraZeneca from a “buy” rating to a “hold” rating in a research report on Tuesday, October 16th. ValuEngine upgraded AstraZeneca from a “hold” rating to a “buy” rating in a research report on Thursday, September 27th. Finally, Wolfe Research started coverage on AstraZeneca in a research report on Tuesday, October 23rd. They set an “outperform” rating on the stock. Four equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $40.34.

NYSE AZN opened at $40.97 on Friday. AstraZeneca plc has a twelve month low of $31.99 and a twelve month high of $41.28. The stock has a market cap of $99.31 billion, a P/E ratio of 10.92, a price-to-earnings-growth ratio of 2.09 and a beta of 0.57. The company has a current ratio of 0.72, a quick ratio of 0.54 and a debt-to-equity ratio of 1.08.

AstraZeneca (NYSE:AZN) last released its quarterly earnings data on Thursday, November 8th. The company reported $0.71 EPS for the quarter, topping analysts’ consensus estimates of $0.33 by $0.38. The company had revenue of $5.34 billion for the quarter, compared to the consensus estimate of $5.26 billion. AstraZeneca had a return on equity of 29.89% and a net margin of 11.98%. The company’s quarterly revenue was down 14.3% compared to the same quarter last year. During the same period last year, the business posted $1.12 EPS. On average, equities analysts anticipate that AstraZeneca plc will post 1.67 EPS for the current year.

In other news, major shareholder Plc Astrazeneca acquired 600,000 shares of the business’s stock in a transaction dated Monday, October 22nd. The shares were bought at an average cost of $5.00 per share, for a total transaction of $3,000,000.00. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website.

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About AstraZeneca

AstraZeneca PLC discovers, develops, and commercializes prescription medicines for the treatment of oncology, cardiovascular and metabolic, respiratory, gastrointestinal, neuroscience, and infection diseases 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, Crestor2, Plendil, Seloken/Toprol-XL4, Tenormin5, and Zestril6 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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Institutional Ownership by Quarter for AstraZeneca (NYSE:AZN)

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