ClearBridge Investments, an investment management firm, published its “Aggressive Growth Strategy” first quarter 2022 investor letter – a copy of which can be downloaded here. The ClearBridge Aggressive Growth Strategy outperformed its Russell 3000 Growth Index benchmark in the first quarter. On an absolute basis, the Strategy had losses across six of the seven sectors in which it was invested (out of 11 sectors total). The lone contributor to performance was the materials sector while the primary detractors were in the information technology (IT) and communication services sectors. Try to spend some time taking a look at the fund’s top 5 holdings to be informed about their best picks for 2022.
In its Q1 2022 investor letter, ClearBridge Investments Aggressive Growth Strategy mentioned Insulet Corporation (NASDAQ:PODD) and explained its insights for the company. Founded in 2000, Insulet Corporation (NASDAQ:PODD) is an Acton, Massachusetts-based medical device company with an $18.3 billion market capitalization. Insulet Corporation (NASDAQ:PODD) delivered a -0.97% return since the beginning of the year, while its 12-month returns are down by -10.64%. The stock closed at $263.50 per share on April 14, 2022.
Here is what ClearBridge Investments Aggressive Growth Strategy has to say about Insulet Corporation (NASDAQ:PODD) in its Q1 2022 investor letter:
“Health care has always been a core foundation of the portfolio and we have been diversifying our health care exposure to include services and solutions beyond our traditional overweight to biopharmaceuticals and managed care. We first purchased Insulet (NASDAQ:PODD) , a leading provider of insulin pumps for diabetes patients, in the fourth quarter of 2021, and we have aggressively added to the position since then. The company is currently the only meaningful manufacturer of patch pumps, the preferred form factor for many patients as compared to traditional tubed pumps. We believe Insulet has a long runway for growth given its large and underpenetrated market, which is only one-third penetrated in Type 1 diabetes and low-single-digit penetrated in the insulin- intensive Type 2 diabetes population. Additionally, we see the launch of the company’s next generation offering, Omnipod 5, which received FDA clearance in January, as an accelerant to growth. Insulet has strong gross margins and is profitable today, though we still see room for significant operating margin expansion ahead.”
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Our calculations show that Insulet Corporation (NASDAQ:PODD) fell short and didn’t make it on our list of the 30 Most Popular Stocks Among Hedge Funds. Insulet Corporation (NASDAQ:PODD) was in 39 hedge fund portfolios at the end of the first quarter of 2022, compared to 32 funds in the previous quarter. Insulet Corporation (NASDAQ:PODD) delivered a 8.72% return in the past 3 months.
In August 2021, we published an article that includes Insulet Corporation (NASDAQ:PODD) in another article. You can find other investor letters from hedge funds and prominent investors on our hedge fund investor letters 2022 Q1 page.
Disclosure: None. This article is originally published at Insider Monkey.
