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 Funds featured stocks like Surgery Partners (NASDAQ:SGRY) in its Q1 2024 investor letter. Headquartered in Brentwood, Tennessee, Surgery Partners, Inc. (NASDAQ:SGRY) owns and operates a network of surgical facilities and ancillary services. On April 23, 2024, Surgery Partners, Inc. (NASDAQ:SGRY) stock closed at $25.38 per share. His 1-month return for Surgery Partners, Inc. (NASDAQ:SGRY) is -15.23%, and the company's stock has lost 35.80% of its value over the past 52 weeks. Surgery Partners, Inc. (NASDAQ:SGRY) has a market capitalization of $3.213 billion.
Baron Health Care Fund said the following about Surgery Partners, Inc. (NASDAQ:SGRY) in its Q1 2024 investor letter:
“We also added Surgery Partners Co., Ltd. (NASDAQ:SGRY), a leading operator of ambulatory surgery centers, and Stryker Corporation, 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 surgeon wearing gloves and a mask performs a surgery in a well-equipped surgical facility.
Surgery Partners, Inc. (NASDAQ:SGRY) isn't included in our list of 30 most popular stocks among hedge funds. According to our database, at the end of the fourth quarter, Surgery Partners, Inc. (NASDAQ:SGRY) was held by 22 hedge fund portfolios, compared to 15 stocks in the previous quarter.
I covered Surgery Partners, Inc. (NASDAQ:SGRY) in a separate article where I shared Jim Cramer's list of stocks that you shouldn't buy. 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.
