Connor Clark & Lunn Investment Management Ltd. Acquires 5,022 Shares of AstraZeneca PLC (NASDAQ:AZN)

Connor Clark & Lunn Investment Management Ltd. grew its holdings in AstraZeneca PLC (NASDAQ:AZN) by 39.3% in the 3rd quarter, Holdings Channel reports. The fund owned 17,810 shares of the company’s stock after purchasing an additional 5,022 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in AstraZeneca were worth $1,388,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Swedbank AB bought a new stake in AstraZeneca in the 1st quarter valued at $186,127,000. Manning & Napier Advisors LLC acquired a new position in shares of AstraZeneca during the second quarter worth about $188,476,000. Hsbc Holdings PLC grew its holdings in shares of AstraZeneca by 750.3% during the second quarter. Hsbc Holdings PLC now owns 1,283,274 shares of the company’s stock worth $100,523,000 after buying an additional 1,132,362 shares in the last quarter. Farallon Capital Management LLC raised its position in AstraZeneca by 65.1% in the 2nd quarter. Farallon Capital Management LLC now owns 2,409,718 shares of the company’s stock valued at $187,934,000 after buying an additional 950,000 shares during the last quarter. Finally, AGF Management Ltd. lifted its stake in AstraZeneca by 63.5% in the 2nd quarter. AGF Management Ltd. now owns 1,303,559 shares of the company’s stock valued at $101,665,000 after acquiring an additional 506,465 shares in the last quarter. Institutional investors and hedge funds own 20.35% of the company’s stock.

AstraZeneca Stock Down 0.1 %

AstraZeneca stock opened at $66.36 on Wednesday. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.93 and a quick ratio of 0.71. The company’s 50-day moving average is $72.94 and its 200-day moving average is $77.65. The firm has a market capitalization of $205.76 billion, a PE ratio of 31.75, a P/E/G ratio of 1.20 and a beta of 0.47. AstraZeneca PLC has a fifty-two week low of $60.47 and a fifty-two week high of $87.68.

AstraZeneca (NASDAQ:AZN) last posted its quarterly earnings results on Tuesday, November 12th. The company reported $1.04 EPS for the quarter, topping analysts’ consensus estimates of $1.01 by $0.03. AstraZeneca had a return on equity of 30.01% and a net margin of 12.68%. The business had revenue of $13.57 billion during the quarter, compared to analysts’ expectations of $13.08 billion. During the same quarter last year, the company posted $0.87 earnings per share. AstraZeneca’s quarterly revenue was up 18.0% on a year-over-year basis. Sell-side analysts anticipate that AstraZeneca PLC will post 4.1 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on AZN shares. UBS Group upgraded shares of AstraZeneca from a “sell” rating to a “neutral” rating in a report on Wednesday, November 20th. Deutsche Bank Aktiengesellschaft upgraded shares of AstraZeneca from a “sell” rating to a “hold” rating in a research note on Wednesday, November 6th. Erste Group Bank upgraded shares of AstraZeneca from a “hold” rating to a “buy” rating in a research note on Wednesday, September 11th. Finally, TD Cowen lifted their target price on AstraZeneca from $90.00 to $95.00 and gave the company a “buy” rating in a research report on Monday, August 12th. Three analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $89.75.

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.