Mackenzie Financial Corp Grows Holdings in AstraZeneca PLC (NASDAQ:AZN)

Mackenzie Financial Corp grew its stake in AstraZeneca PLC (NASDAQ:AZN - Free Report) by 73.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 530,037 shares of the company's stock after acquiring an additional 224,503 shares during the period. Mackenzie Financial Corp's holdings in AstraZeneca were worth $34,728,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Banque Transatlantique SA bought a new position in AstraZeneca in the 4th quarter worth about $26,000. CoreCap Advisors LLC boosted its stake in shares of AstraZeneca by 31.8% during the fourth quarter. CoreCap Advisors LLC now owns 642 shares of the company's stock valued at $42,000 after purchasing an additional 155 shares in the last quarter. Crews Bank & Trust bought a new position in shares of AstraZeneca during the fourth quarter valued at approximately $55,000. Golden State Wealth Management LLC bought a new position in shares of AstraZeneca during the fourth quarter valued at approximately $55,000. Finally, Newbridge Financial Services Group Inc. bought a new position in shares of AstraZeneca during the fourth quarter valued at approximately $55,000. 20.35% of the stock is currently owned by institutional investors.

AstraZeneca Stock Performance

Shares of NASDAQ AZN traded up $0.49 during midday trading on Thursday, reaching $70.87. The company had a trading volume of 3,422,361 shares, compared to its average volume of 5,172,894. The business's 50-day simple moving average is $69.45 and its 200 day simple moving average is $69.58. The stock has a market cap of $219.79 billion, a P/E ratio of 31.36, a P/E/G ratio of 1.42 and a beta of 0.40. AstraZeneca PLC has a 1 year low of $61.24 and a 1 year high of $87.68. The company has a current ratio of 0.93, a quick ratio of 0.74 and a debt-to-equity ratio of 0.65.

AstraZeneca (NASDAQ:AZN - Get Free Report) last posted its quarterly earnings results on Tuesday, April 29th. The company reported $1.24 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.10 by $0.14. The business had revenue of $13.59 billion during the quarter, compared to analysts' expectations of $13.71 billion. AstraZeneca had a net margin of 13.01% and a return on equity of 32.23%. The business's quarterly revenue was up 7.2% on a year-over-year basis. During the same quarter last year, the company posted $2.06 earnings per share. On average, analysts forecast that AstraZeneca PLC will post 4.51 earnings per share for the current fiscal year.

Analysts Set New Price Targets

AZN has been the topic of a number of recent research reports. Morgan Stanley initiated coverage on shares of AstraZeneca in a research note on Wednesday, February 12th. They set an "overweight" rating on the stock. BNP Paribas assumed coverage on shares of AstraZeneca in a research note on Tuesday, April 15th. They issued an "outperform" rating and a $75.00 target price for the company. Finally, UBS Group upgraded shares of AstraZeneca from a "neutral" rating to a "buy" rating in a research note on Thursday, February 13th. One analyst has rated the stock with a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat.com, AstraZeneca has a consensus rating of "Buy" and a consensus target price of $88.00.

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.