Bank of Montreal Can Acquires 1,605,758 Shares of AstraZeneca PLC (NASDAQ:AZN)

Bank of Montreal Can raised its holdings in AstraZeneca PLC (NASDAQ:AZN) by 109.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 3,071,333 shares of the company’s stock after buying an additional 1,605,758 shares during the period. Bank of Montreal Can’s holdings in AstraZeneca were worth $238,397,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. McClarren Financial Advisors Inc. increased its position in shares of AstraZeneca by 320.8% in the third quarter. McClarren Financial Advisors Inc. now owns 324 shares of the company’s stock valued at $25,000 after acquiring an additional 247 shares during the last quarter. GHP Investment Advisors Inc. bought a new position in AstraZeneca in the second quarter valued at approximately $26,000. Capital Performance Advisors LLP bought a new stake in shares of AstraZeneca during the 3rd quarter worth approximately $28,000. Pathway Financial Advisers LLC bought a new stake in shares of AstraZeneca during the 1st quarter worth approximately $29,000. Finally, CANADA LIFE ASSURANCE Co boosted its holdings in shares of AstraZeneca by 40.6% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 506 shares of the company’s stock valued at $34,000 after buying an additional 146 shares during the last quarter. 20.35% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently weighed in 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. TD Cowen upped their target price on shares of AstraZeneca from $90.00 to $95.00 and gave the company a “buy” rating in a report on Monday, August 12th. Finally, Erste Group Bank upgraded AstraZeneca from a “hold” rating to a “buy” rating in a report on Wednesday, September 11th. Three analysts have rated the stock with a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, AstraZeneca presently has an average rating of “Moderate Buy” and a consensus target price of $89.75.

AstraZeneca Price Performance

Shares of AZN opened at $66.40 on Tuesday. The company’s 50-day moving average is $73.19 and its 200-day moving average is $77.72. 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 firm has a market capitalization of $205.88 billion, a PE ratio of 31.77, a PEG 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 released its quarterly earnings results on Tuesday, November 12th. The company reported $1.04 earnings per share for the quarter, beating the consensus estimate of $1.01 by $0.03. AstraZeneca had a net margin of 12.68% and a return on equity of 30.01%. The firm had revenue of $13.57 billion for the quarter, compared to analysts’ expectations of $13.08 billion. During the same period in the prior year, the firm earned $0.87 EPS. The business’s revenue was up 18.0% on a year-over-year basis. Equities analysts forecast that AstraZeneca PLC will post 4.1 EPS for the current year.

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.