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

Connor Clark & Lunn Investment Management Ltd. lifted its stake in AstraZeneca PLC (NASDAQ:AZN) by 39.3% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 17,810 shares of the company’s stock after buying an additional 5,022 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in AstraZeneca were worth $1,388,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Stratos Wealth Advisors LLC boosted its stake in shares of AstraZeneca by 2.0% in the 3rd quarter. Stratos Wealth Advisors LLC now owns 6,699 shares of the company’s stock valued at $522,000 after purchasing an additional 133 shares in the last quarter. Bruce G. Allen Investments LLC lifted its holdings in AstraZeneca by 19.1% during the 2nd quarter. Bruce G. Allen Investments LLC now owns 860 shares of the company’s stock valued at $67,000 after purchasing an additional 138 shares during the last quarter. Carnegie Investment Counsel boosted its position in AstraZeneca by 0.8% in the second quarter. Carnegie Investment Counsel now owns 17,269 shares of the company’s stock valued at $1,347,000 after buying an additional 138 shares in the last quarter. Crumly & Associates Inc. grew its stake in AstraZeneca by 2.2% during the third quarter. Crumly & Associates Inc. now owns 6,644 shares of the company’s stock worth $518,000 after buying an additional 143 shares during the last quarter. Finally, CANADA LIFE ASSURANCE Co increased its holdings in shares of AstraZeneca by 40.6% during the first quarter. CANADA LIFE ASSURANCE Co now owns 506 shares of the company’s stock worth $34,000 after buying an additional 146 shares in the last quarter. Institutional investors and hedge funds own 20.35% of the company’s stock.

AstraZeneca Price Performance

Shares of AZN stock opened at $66.36 on Wednesday. The company has a quick ratio of 0.71, a current ratio of 0.93 and a debt-to-equity ratio of 0.71. AstraZeneca PLC has a 12 month low of $60.47 and a 12 month high of $87.68. The firm has a market cap of $205.76 billion, a price-to-earnings ratio of 31.75, a PEG ratio of 1.20 and a beta of 0.47. The stock has a 50-day moving average price of $72.94 and a 200 day moving average price of $77.65.

AstraZeneca (NASDAQ:AZN) last released its 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. The firm had revenue of $13.57 billion during the quarter, compared to analyst estimates of $13.08 billion. AstraZeneca had a net margin of 12.68% and a return on equity of 30.01%. The business’s quarterly revenue was up 18.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.87 EPS. Research analysts expect that AstraZeneca PLC will post 4.1 EPS for the current year.

Wall Street Analysts Forecast Growth

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

About AstraZeneca

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.