Baron Funds, an investment management firm, released its “Baron Durable Advantage Fund” second quarter 2023 investor letter, a copy of which can be downloaded here. The fund advanced 10.7% (Institutional Shares) in the second quarter compared to an 8.7% return for the Fund’s benchmark, the S&P 500 Index. The fund returned 28.4% year-to-date compared to 16.9% for the Index. In addition, you can check the top 5 holdings of the fund to know its best picks in 2023.
Baron Durable Advantage Fund highlighted stocks like Danaher Corporation (NYSE:DHR) in the second quarter 2023 investor letter. Headquartered in Washington, the District of Columbia, Danaher Corporation (NYSE:DHR) designs, manufactures, and markets professional, medical, industrial, and commercial products and services. On September 12, 2023, Danaher Corporation (NYSE:DHR) stock closed at $248.33 per share. One-month return of Danaher Corporation (NYSE:DHR) was -1.76%, and its shares lost 11.86% of their value over the last 52 weeks. Danaher Corporation (NYSE:DHR) has a market capitalization of $183.355 billion.
Baron Durable Advantage Fund made the following comment about Danaher Corporation (NYSE:DHR) in its Q2 2023 investor letter:
“Danaher Corporation (NYSE:DHR) is a life sciences and diagnostics company. For life sciences, Danaher supplies instruments for lab research, genomics services, and bioproduction tools. For the diagnostics business, Danaher offers instruments to run clinical tests in large core labs, hospitals, and pathology labs and at the point of care. Shares declined 4.7% during the quarter after the company cut its fiscal year 2023 guidance due to headwinds within its bioprocessing segment, as biopharmaceutical customers burned through existing inventory and smaller biotechnology firms faced funding constraints. We remain positive on Danaher’s long-term trajectory. Danaher benefits from a market-leading position and broad portfolio within bioprocessing, which addresses a biologics market that is growing by double digits, and which we expect to benefit in the near and medium term from a wave of biosimilars entering the market after key patents expire. Danaher has a collection of high-quality assets, with targets of high single-digit core revenue growth and double-digit EPS growth.”
Likoper/Shutterstock.com
Danaher Corporation (NYSE:DHR) is in 29th position on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 89 hedge fund portfolios held Danaher Corporation (NYSE:DHR) at the end of second quarter which was 90 in the previous quarter.
We discussed Danaher Corporation (NYSE:DHR) in another article and shared the list of best dividend paying stocks to buy. In addition, please check out our hedge fund investor letters Q2 2023 page for more investor letters from hedge funds and other leading investors.
Suggested Articles:
- 15 Best S&P 500 Stocks For Dividend Growth
- Top 15 Sports Tech Companies And Startups In The World
- 15 Countries That Watch the Most Gay Content
Disclosure: None. This article is originally published at Insider Monkey.
