5 Best Growth Stocks to Buy and Hold in 2023 According to Billionaire Rajiv Jain

4. AstraZeneca PLC (NASDAQ:AZN)

GQG Partners’ Stake Value: $1,495,465,291

Number of Hedge Fund Holders: 39

AstraZeneca PLC (NASDAQ:AZN) is a biopharmaceutical company that concentrates on the exploration, advancement, production, and distribution of prescription medications. Securities filings for the first quarter of 2023 reveal that Rajiv Jain owns 21.5 million shares of AstraZeneca PLC (NASDAQ:AZN) worth $1.5 billion, representing 3.91% of the total portfolio. The billionaire raised his stake in the company by 26% in Q1. 

On May 9, Berenberg raised the firm’s price target on AstraZeneca PLC (NASDAQ:AZN) to 135 GBp from 124 GBp and maintained a Buy rating on the shares.

According to Insider Monkey’s first quarter database, 39 hedge funds were bullish on AstraZeneca PLC (NASDAQ:AZN), compared to 42 funds in the prior quarter. Thomas Steyer’s Farallon Capital is a prominent stakeholder of the company. 

Baron Health Care Fund made the following comment about AstraZeneca PLC (NASDAQ:AZN) in its Q1 2023 investor letter:

“We reduced our position in AstraZeneca PLC (NASDAQ:AZN) ahead of a clinical data read-out of a competitor drug that would compete with one of the company’s important drugs.”

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