Published on 23 Sep 2024 on Insider Monkey · via Yahoo Finance
Here’s Why AstraZeneca PLC (AZN) Surged in Q2
Parnassus Investments, an investment management company, released the “Parnassus Growth Equity Fund” second quarter 2024 investor letter. A copy of the letter can be downloaded here. In the second quarter, the Fund (Investor Shares) returned 3.74% (net of fees) underperforming the Russell 1000 Growth Index’s 8.33%. Stock selection in the Information Technology sector primarily drove the portfolio’s underperformance. Also, overweight position and stock selection in the Financials sector detracted. In addition, please check the fund’s top five holdings to know its best picks in 2024.
Parnassus Growth Equity Fund highlighted stocks like AstraZeneca PLC (NASDAQ:AZN) in the second quarter 2024 investor letter. AstraZeneca PLC (NASDAQ:AZN) is a biopharmaceutical company that discovers, develops, and manufacturers prescription medicine. The one-month return of AstraZeneca PLC (NASDAQ:AZN) was -9.51%, and its shares gained 13.69% of their value over the last 52 weeks. On September 20, 2024, AstraZeneca PLC (NASDAQ:AZN) stock closed at $78.38 per share with a market capitalization of $243.487 billion.