Is it a Good Move to Acquire AstraZeneca (AZN) Shares?

Carillon Tower Advisers, an investment management firm, published its “Carillon Eagle Growth & Income Fund” first quarter 2022 investor letter – a copy of which can be downloaded here. The Carillon Family of Funds spans a range of investment objectives and asset classes designed for long-term investors.  Along with the spike in oil prices, energy stocks performed best during the quarter, followed by more defensive and countercyclical sectors like utilities and consumer staples. The fund continues to see a somewhat balanced outlook for equity market returns. Try to spend some time taking a look at the fund’s top 5 holdings to be informed about their best picks for 2022.

In its Q1 2022 investor letter, Carillon Eagle Growth & Income Fund mentioned AstraZeneca PLC (NYSE:AZN) and explained its insights for the company. Founded in 1999, AstraZeneca PLC (NYSE:AZN) is a Cambridge, United Kingdom-based pharmaceutical industry company with a $204.3 billion market capitalization. AstraZeneca PLC (NYSE:AZN) delivered a 13.22% return since the beginning of the year, while its 12-month returns are up by 8.49%. The stock closed at $65.95 per share on July 01, 2022.

Here is what Carillon Eagle Growth & Income Fund has to say about AstraZeneca PLC (NYSE:AZN) in its Q1 2022 investor letter: 

AstraZeneca (NYSE:AZN) performed strongly and reported encouraging fourth-quarter earnings and initial 2022 guidance. AstraZeneca also announced positive clinical data for two drugs within its oncology business that should serve as important long-term growth drivers.”

Our calculations show that AstraZeneca PLC (NYSE:AZN) fell short and didn’t make it on our list of the 30 Most Popular Stocks Among Hedge Funds. AstraZeneca PLC (NYSE:AZN) was in 45 hedge fund portfolios at the end of the first quarter of 2022, compared to 42 funds in the previous quarter. AstraZeneca PLC (NYSE:AZN) delivered a -1.29  % return in the past 3 months.

In June 2022, we also shared another hedge fund’s views on AstraZeneca PLC (NYSE:AZN) in another article. You can find other investor letters from hedge funds and prominent investors on our hedge fund investor letters 2022 Q1 page.

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