CIBC Asset Management Inc Buys 9,132 Shares of Astrazeneca Plc $AZN

CIBC Asset Management Inc lifted its stake in Astrazeneca Plc (NYSE:AZN) by 3.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 253,856 shares of the company’s stock after buying an additional 9,132 shares during the period. CIBC Asset Management Inc’s holdings in Astrazeneca were worth $44,552,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Marble Wealth LLC bought a new position in Astrazeneca during the fourth quarter worth about $586,000. Bank of New York Mellon Corp lifted its stake in Astrazeneca by 2.6% during the fourth quarter. Bank of New York Mellon Corp now owns 1,032,000 shares of the company’s stock worth $181,116,000 after purchasing an additional 25,833 shares during the period. Calton & Associates Inc. bought a new position in Astrazeneca during the fourth quarter worth about $412,000. Channing Global Advisors LLC lifted its stake in Astrazeneca by 5.8% during the fourth quarter. Channing Global Advisors LLC now owns 10,682 shares of the company’s stock worth $1,875,000 after purchasing an additional 590 shares during the period. Finally, AXQ Capital LP bought a new position in Astrazeneca during the fourth quarter worth about $601,000. Institutional investors own 20.35% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the stock. JPMorgan Chase & Co. restated a “buy” rating on shares of Astrazeneca in a research note on Monday. Wall Street Zen upgraded shares of Astrazeneca from a “hold” rating to a “buy” rating in a research note on Saturday, May 2nd. Morgan Stanley reiterated an “overweight” rating on shares of Astrazeneca in a research note on Wednesday, April 8th. Jefferies Financial Group reiterated a “buy” rating on shares of Astrazeneca in a research note on Wednesday, May 13th. Finally, Weiss Ratings initiated coverage on shares of Astrazeneca in a research note on Wednesday, March 11th. They issued a “buy (b)” rating for the company. Twelve equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $205.33.

Astrazeneca Price Performance

AZN opened at $176.28 on Thursday. The company has a fifty day moving average price of $190.88 and a two-hundred day moving average price of $184.54. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.71 and a current ratio of 0.91. Astrazeneca Plc has a 52 week low of $137.23 and a 52 week high of $212.71. The firm has a market capitalization of $273.39 billion, a PE ratio of 26.47, a P/E/G ratio of 1.41 and a beta of 0.25.

Astrazeneca (NYSE:AZN) last released its earnings results on Wednesday, April 29th. The company reported $2.58 EPS for the quarter, topping analysts’ consensus estimates of $2.52 by $0.06. The firm had revenue of $15.29 billion during the quarter, compared to analyst estimates of $14.93 billion. Astrazeneca had a net margin of 17.19% and a return on equity of 30.86%. As a group, analysts anticipate that Astrazeneca Plc will post 10.26 earnings per share for the current year.

Astrazeneca Profile

AstraZeneca plc is a global biopharmaceutical company headquartered in Cambridge, England. Formed through the 1999 merger of Sweden’s Astra AB and the UK’s Zeneca Group, the company researches, develops, manufactures and commercializes prescription medicines across a range of therapeutic areas. AstraZeneca positions itself as R&D-driven, investing in discovery science, clinical development and regulatory processes to bring new therapies to market.

The company’s commercial portfolio and late-stage pipeline emphasize oncology, cardiovascular, renal and metabolic (CVRM) diseases, and respiratory and immunology.