CIBC World Markets Inc. reduced its stake in AstraZeneca PLC (NASDAQ:AZN) by 32.0% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 53,772 shares of the company’s stock after selling 25,300 shares during the quarter. CIBC World Markets Inc.’s holdings in AstraZeneca were worth $2,674,000 as of its most recent SEC filing.
Other institutional investors also recently made changes to their positions in the company. Arkadios Wealth Advisors purchased a new position in AstraZeneca during the 4th quarter worth approximately $28,000. Concord Wealth Partners purchased a new position in AstraZeneca during the 4th quarter worth approximately $34,000. IronBridge Private Wealth LLC purchased a new position in AstraZeneca during the 4th quarter worth approximately $35,000. Jackson Grant Investment Advisers Inc. purchased a new position in AstraZeneca during the 4th quarter worth approximately $38,000. Finally, SOA Wealth Advisors LLC. purchased a new position in AstraZeneca during the 4th quarter worth approximately $38,000. 16.13% of the stock is owned by hedge funds and other institutional investors.
AstraZeneca stock opened at $58.84 on Friday. The company has a fifty day moving average of $53.78. AstraZeneca PLC has a 1 year low of $46.48 and a 1 year high of $64.94. The firm has a market cap of $154.43 billion, a PE ratio of 38.71, a P/E/G ratio of 1.22 and a beta of 0.55. The company has a quick ratio of 0.67, a current ratio of 0.87 and a debt-to-equity ratio of 1.21.
A number of research firms have issued reports on AZN. Berenberg Bank reissued a “buy” rating on shares of AstraZeneca in a research report on Tuesday, March 9th. UBS Group raised shares of AstraZeneca from a “neutral” rating to a “buy” rating in a report on Thursday, February 25th. Argus reaffirmed a “hold” rating on shares of AstraZeneca in a report on Monday, April 19th. SVB Leerink lifted their target price on shares of AstraZeneca from $63.00 to $64.00 and gave the company an “outperform” rating in a report on Friday, June 4th. Finally, Societe Generale reaffirmed a “buy” rating on shares of AstraZeneca in a report on Tuesday, March 23rd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and ten have given a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $99.33.
AstraZeneca PLC discovers, develops, manufactures, and commercializes prescription medicines in the areas of oncology, cardiovascular, renal and metabolism, respiratory, infection, neuroscience, and gastroenterology worldwide. The company's marketed products include Tagrisso, Lynparza, Imfinzi, Enhertu, Koselugo, Lumoxiti, Equidacent, Zoladex, Faslodex, Iressa, Arimidex, Casodex/Cosudex, and others for oncology diseases; Onglyza, Bydureon, Lokelma, Byetta, Qtern, Symlin, and others for cardiovascular, renal, and metabolism diseases; and Symbicort, Pulmicort, Fasenra, Daliresp/Daxas, Duaklir, Tudorza/Eklira, Bevespi, Breztri, Anifrolumab, and others for respiratory and immunology diseases.
Read More: How is a price target determined?
Want to see what other hedge funds are holding AZN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for AstraZeneca PLC (NASDAQ:AZN).
Receive News & Ratings for AstraZeneca Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AstraZeneca and related companies with MarketBeat.com's FREE daily email newsletter.