Investment management company Baron Funds has announced the first quarter 2024 investor letter for Baron Healthcare Fund. You can download a copy of the same here. The fund rose 8.92% (institutional stocks) in the quarter, compared to an 8.52% rise in the Russell 3000 Healthcare Index (benchmark) and a 10.56% rise in the S&P 500 Index. The fund has gained 13.61% on an annualized basis since its inception on April 30, 2018, compared to the benchmark’s 11.45% gain and the index’s 14.24% gain. Plus, check out the fund’s top 5 holdings to find out the best stocks for 2024.
Baron Healthcare Fund featured stocks such as Stryker Corporation (NYSE:SYK) in its Q1 2024 Investor Letter. Stryker Corporation (NYSE:SYK), headquartered in Portage, Michigan, is a medical technology company. On April 23, 2024, Stryker Corporation (NYSE: SYK) stock closed at $334.91 per share. His 1-month return for Stryker Corporation (NYSE:SYK) is -6.63%, and the company’s stock has increased his 12.09% in value over the past 52 weeks. Stryker Corporation (NYSE:SYK) has a market capitalization of $127.423 billion.
Baron Healthcare Fund said the following about Stryker Corporation (NYSE:SYK) in its Q1 2024 investor letter:
“We also added Surgery Partners, Inc., a leading operator of outpatient surgery centers, to our portfolio. striker corporation (NYSE:SYK) is a leading diversified medical device company. We believe our surgical partners should benefit from the multi-year trend of surgical procedures moving from inpatient hospitals to outpatient centers. Stryker reported strong fourth-quarter financial results showing organic revenue growth of 11.5%, and management has a solid outlook for 2024 seeking 7.5% to 9.0% organic revenue growth and double-digit EPS growth. provided guidance. ”
A medical team wearing surgical masks and gloves performs hip or knee replacement surgery with the help of a surgical navigation system.
Stryker Corporation (NYSE:SYK) isn’t on the list of 30 most popular stocks among hedge funds. At the end of the fourth quarter, Stryker Corporation (NYSE:SYK)’s hedge fund portfolio held 50 companies, compared to 47 companies last quarter, according to our database.
In another article where we shared a list of the best medical device stocks to buy, we discussed Stryker Corporation (NYSE:SYK). Additionally, for investor letters from hedge funds and other leading investors, please visit our Hedge Fund Investor Letters Q1 2024 page.
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Disclosure: None. This article was originally published on Insider Monkey.
