Bank of Nova Scotia Reduces Holdings in AstraZeneca PLC (NASDAQ:AZN)

Bank of Nova Scotia lowered its holdings in AstraZeneca PLC (NASDAQ:AZN – Get Rating) by 31.6% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 3,326 shares of the company’s stock after selling 1,540 shares during the quarter. Bank of Nova Scotia’s holdings in AstraZeneca were worth $226,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Oppenheimer & Co. Inc. lifted its holdings in AstraZeneca by 1.5% in the 4th quarter. Oppenheimer & Co. Inc. now owns 11,186 shares of the company’s stock worth $758,000 after buying an additional 166 shares during the period. Arete Wealth Advisors LLC grew its stake in AstraZeneca by 11.4% in the fourth quarter. Arete Wealth Advisors LLC now owns 12,222 shares of the company’s stock worth $828,675,870,000 after purchasing an additional 1,251 shares during the period. Foster Victor Wealth Advisors LLC bought a new position in AstraZeneca in the fourth quarter worth $239,000. ARGI Investment Services LLC lifted its position in AstraZeneca by 2.6% during the fourth quarter. ARGI Investment Services LLC now owns 7,261 shares of the company’s stock valued at $492,000 after buying an additional 187 shares during the period. Finally, Tudor Investment Corp Et Al purchased a new position in AstraZeneca during the third quarter valued at $5,087,000. Hedge funds and other institutional investors own 16.42% of the company’s stock.

AstraZeneca Price Performance

AZN opened at $71.79 on Friday. The stock has a 50-day moving average price of $73.83 and a 200-day moving average price of $69.02. The company has a debt-to-equity ratio of 0.75, a current ratio of 0.90 and a quick ratio of 0.70. The firm has a market cap of $222.53 billion, a PE ratio of 47.23, a P/E/G ratio of 1.45 and a beta of 0.52. AstraZeneca PLC has a 1 year low of $52.65 and a 1 year high of $76.56.

Wall Street Analysts Forecast Growth

Several brokerages have commented on AZN. StockNews.com began coverage on AstraZeneca in a research report on Thursday, May 18th. They set a “strong-buy” rating for the company. Morgan Stanley raised AstraZeneca from an “equal weight” rating to an “overweight” rating in a research report on Tuesday, April 11th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, AstraZeneca presently has a consensus rating of “Moderate Buy” and a consensus target price of $126.00.

AstraZeneca Profile

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AstraZeneca Plc is a holding company, which engages in the research, development, manufacture, and commercialization of prescription medicines. The company was founded on June 17, 1992 and is headquartered in Cambridge, the United Kingdom.