Jim Cramer’s Lightning Rounds: 12 Stocks Under the Spotlight

5. AstraZeneca PLC (NASDAQ:AZN)

Number of Hedge Fund Holders: 42

Cramer expressed disappointment in AstraZeneca PLC (NASDAQ:AZN) despite his earlier enthusiasm and said:

“Oh man, I gotta tell you, AstraZeneca, I was so excited about that stock after the CEO came on and then there’s just been a series of disappointments. I don’t know what to make of it. I’m gonna have to say, take a pass.”

AstraZeneca (NASDAQ:AZN) is a biopharmaceutical company focused on the discovery, development, manufacturing, and commercialization of prescription medicines. The company has made significant investments in its operations, particularly in key markets such as China. Recently, it appointed Iskra Reic as its new international executive vice president (EVP), following the detention of Leon Wang by Chinese authorities in October.

The company is actively working to stabilize its operations in China, although it has stated that it does not have key details regarding Wang’s ongoing investigation. While Wang remains an employee of the company, he is on extended leave during this period, and the reasons behind the investigation remain unclear.

In addition to Wang’s situation, AstraZeneca (NASDAQ:AZN) is aware of two other separate investigations being conducted by the Chinese government. One investigation concerns suspected medical insurance fraud, and the other involves the importation of cancer drugs from Hong Kong into mainland China.