CIBC World Markets Inc. Decreases Stake in AstraZeneca PLC (NASDAQ:AZN)

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.

AstraZeneca (NASDAQ:AZN) last released its quarterly earnings results on Thursday, April 29th. The company reported $0.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.71 by $0.11. AstraZeneca had a net margin of 14.42% and a return on equity of 41.94%. The firm had revenue of $7.32 billion for the quarter, compared to analysts’ expectations of $7.15 billion. During the same quarter last year, the company earned $1.05 EPS. The firm’s revenue for the quarter was up 15.2% compared to the same quarter last year. On average, sell-side analysts predict that AstraZeneca PLC will post 2.47 EPS for the current fiscal year.

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.

About AstraZeneca

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.

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Institutional Ownership by Quarter for AstraZeneca (NASDAQ:AZN)

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