Cidel Asset Management Inc. Takes Position in Astrazeneca Plc $AZN

Cidel Asset Management Inc. acquired a new position in shares of Astrazeneca Plc (NYSE:AZN) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 234,663 shares of the company’s stock, valued at approximately $44,480,000. Astrazeneca makes up approximately 2.1% of Cidel Asset Management Inc.’s holdings, making the stock its 9th biggest position.

A number of other large investors have also recently made changes to their positions in AZN. Capital Analysts LLC grew its holdings in Astrazeneca by 18.2% during the 2nd quarter. Capital Analysts LLC now owns 962 shares of the company’s stock worth $181,000 after acquiring an additional 148 shares in the last quarter. SVB Wealth LLC acquired a new position in shares of Astrazeneca during the second quarter worth $532,000. NorthRock Partners LLC increased its holdings in Astrazeneca by 3.7% in the second quarter. NorthRock Partners LLC now owns 3,462 shares of the company’s stock valued at $657,000 after buying an additional 123 shares during the last quarter. NewEdge Advisors LLC raised its stake in Astrazeneca by 1.6% in the second quarter. NewEdge Advisors LLC now owns 39,462 shares of the company’s stock valued at $7,483,000 after buying an additional 621 shares in the last quarter. Finally, Baird Financial Group Inc. raised its stake in Astrazeneca by 0.6% in the second quarter. Baird Financial Group Inc. now owns 134,149 shares of the company’s stock valued at $25,437,000 after buying an additional 771 shares in the last quarter. 20.35% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. Bank of America reaffirmed a “buy” rating on shares of Astrazeneca in a research report on Wednesday, July 1st. JPMorgan Chase & Co. reissued a “buy” rating on shares of Astrazeneca in a research report on Tuesday, June 30th. HSBC cut Astrazeneca from a “buy” rating to a “hold” rating in a research note on Monday, July 13th. Wall Street Zen lowered shares of Astrazeneca from a “buy” rating to a “hold” rating in a research note on Saturday, August 1st. Finally, The Goldman Sachs Group reissued a “buy” rating on shares of Astrazeneca in a report on Wednesday, July 1st. Fourteen analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Astrazeneca has an average rating of “Moderate Buy” and an average price target of $206.67.

Astrazeneca Stock Performance

NYSE AZN opened at $160.05 on Wednesday. The company has a fifty day moving average of $168.06 and a two-hundred day moving average of $183.46. The company has a market capitalization of $248.23 billion, a PE ratio of 23.92, a P/E/G ratio of 1.27 and a beta of 0.25. Astrazeneca Plc has a 1 year low of $145.79 and a 1 year high of $212.71. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.89 and a quick ratio of 0.67.

Astrazeneca (NYSE:AZN) last posted its earnings results on Monday, July 27th. The company reported $2.63 EPS for the quarter, topping analysts’ consensus estimates of $2.50 by $0.13. Astrazeneca had a return on equity of 31.45% and a net margin of 17.02%.The business had revenue of $15.38 billion for the quarter, compared to analysts’ expectations of $15.44 billion. During the same quarter in the previous year, the firm earned $2.17 earnings per share. The business’s revenue was up 6.4% compared to the same quarter last year. As a group, analysts expect that Astrazeneca Plc will post 10.19 earnings per share for the current year.

Astrazeneca Profile

AstraZeneca plc is a global biopharmaceutical company focused on the discovery, development and commercialization of prescription medicines. Its principal therapeutic areas include oncology, cardiovascular, renal and metabolic diseases, respiratory and immunology conditions, and rare diseases.

The company’s portfolio includes medicines such as Tagrisso, Imfinzi and Lynparza for cancer; Farxiga for cardiovascular, kidney and metabolic conditions; Fasenra for severe asthma; and Symbicort for respiratory disease.