Is AstraZeneca PLC (AZN) a Solid Prospective Investment?

Artisan Partners, an investment management company, released its “Artisan Global Equity Fund” fourth quarter 2022 investor letter. A copy of the same can be downloaded here. In the fourth quarter, its Investor Class fund ARTHX returned 15.95%, Advisor Class fund APDHX posted a return of 15.98%, and Institutional Class fund APHHX returned 16.04%, compared to a return of 9.76% for the MSCI All Country World Index. In addition, please check the fund’s top five holdings to know its best picks in 2022.

Artisan Global Equity Fund highlighted stocks like AstraZeneca PLC (NASDAQ:AZN) in the Q4 2022 investor letter. Headquartered in Cambridge, the United Kingdom, AstraZeneca PLC (NASDAQ:AZN) is a biopharmaceutical company. On March 16, 2023, AstraZeneca PLC (NASDAQ:AZN) stock closed at $65.98 per share. One-month return of AstraZeneca PLC (NASDAQ:AZN) was -4.34%, and its shares gained 4.35% of their value over the last 52 weeks. AstraZeneca PLC (NASDAQ:AZN) has a market capitalization of $205.901 billion.

Artisan Global Equity Fund made the following comment about AstraZeneca PLC (NASDAQ:AZN) in its Q4 2022 investor letter:

“In health care, an area where we have been very selective this year, we bought a stake in AstraZeneca PLC (NASDAQ:AZN), a pharmaceutical and medical products company, after it presented its phase 3 data for Capivasertib, a potential treatment for certain patients with metastatic breast cancer. The data were very positive, and we believe it further solidifies AstraZeneca as a market leader in breast cancer treatments.”

Laboratory, Health, Science

Photo by National Cancer Institute on Unsplash

AstraZeneca PLC (NASDAQ:AZN) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 42 hedge fund portfolios held AstraZeneca PLC (NASDAQ:AZN) at the end of the fourth quarter which was 44 in the previous quarter.

We discussed AstraZeneca PLC (NASDAQ:AZN) in another article and shared the list of most promising cancer stocks according to analysts. In addition, please check out our hedge fund investor letters Q4 2022 page for more investor letters from hedge funds and other leading investors.

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Disclosure: None. This article is originally published at Insider Monkey.