Top 5 Stock Picks of Roberto Mignone’s Bridger Management

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In this article, we discuss the top 5 stock picks of Roberto Mignone’s Bridger Management. If you want to check out a detailed analysis of Mignone’s investment philosophy and current portfolio allocation strategies, go directly to Top 10 Stock Picks of Roberto Mignone’s Bridger Management.

5. AstraZeneca PLC (NASDAQ:AZN)

Bridger Management’s Stake Value: $24,882,000
Percentage of Bridger Management’s 13F Portfolio: 5.6%
Number of Hedge Fund Holders: 47

AstraZeneca PLC (NASDAQ:AZN) is a biopharmaceutical firm specializing in prescription drug research, production, and marketing. In addition to BioMarin Pharmaceutical Inc. (NASDAQ:BMRN), Bridger Management also opened a new position in AstraZeneca PLC (NASDAQ:AZN). The fund bought $24.88 million worth of AZN shares in the second quarter.

AstraZeneca PLC (NASDAQ:AZN) was upgraded on August 29 by Argus analyst Jasper Hellweg from ‘Hold’ to ‘Buy’ with a $75 price target, noting a flurry of recent authorizations, acquisitions, and growth in its current portfolio. In addition, the Japanese Ministry of Health, Labour, and Welfare committee on August 30 authorized AstraZeneca PLC (NASDAQ:AZN)’s COVID treatment, Evusheld.

According to Insider Monkey’s second quarter database, 47 hedge funds placed long bets on AstraZeneca PLC (NASDAQ:AZN), compared to 45 funds in the earlier quarter. The total stakes owned in the second quarter amounted to $4.90 billion, up from $4.58 billion in the first quarter of 2022. Ken Fisher’s Fisher Asset Management is the leading shareholder of AstraZeneca PLC (NASDAQ:AZN), with 21.39 million shares worth approximately $1.41 billion.

In its Q1 2022 investor letter, Carillon Tower Advisers mentioned AstraZeneca PLC (NASDAQ:AZN). Here is what the firm had to say:

“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.”



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