Top 5 Healthcare Stocks the Experts at Sphera Global Healthcare Fund Are Buying

2. AstraZeneca plc (NYSE:AZN)

AstraZeneca plc (NYSE:AZN) ranks second on the list after Sphera Global loaded up on 143,994 shares of AZN during the third quarter. That gave it a holding of 1.29 million shares on September 30, valued at $77.58 million. Hedge funds have generally grown more bullish on AstraZeneca plc (NYSE:AZN) in recent years, though they’re quite underweighting the $177 billion pharmaceutical giant nonetheless, with just 42 funds long the stock among those tracked by Insider Monkey.

While AstraZeneca plc (NYSE:AZN) is another prominent Covid vaccine producer that Sphera Global likes, the fund is likely more interested in Astra’s strong oncology portfolio, revenue from which grew by 24% in 2020. AstraZeneca has several strong performing drugs in important cancer indications like lung, breast, and ovarian, and a pipeline loaded with more than 150 projects. While the market was skeptical about the $39 billion price tag the company paid to acquire Alexion Pharmaceuticals, the increased cash flow generation that will result should help grow the company’s dividend and further bolster its R&D spending.