Madison Investments, an investment advisor, released its “Madison Sustainable Equity Fund” third quarter 2024 investor letter. A copy of the letter can be downloaded here. All equity classes experienced good results in the third quarter. During the quarter, equity markets ended on a high note, with the S&P 500 achieving a 5.89% increase, bringing the full-year performance to 22.08%. The Value outperformed growth and the market broadened outside the mega-cap tech stocks during the quarter. Against this backdrop, Madison Sustainable Equity Fund (Class Y) outperformed the S&P 500 in the quarter. In addition, you can check the fund’s top 5 holdings to find out its best picks for 2024.
Madison Sustainable Equity Fund highlighted stocks like Danaher Corporation (NYSE:DHR) in the Q3 2024 investor letter. Danaher Corporation (NYSE:DHR) manufactures, and markets professional, medical, industrial, and commercial products and services. The one-month return of Danaher Corporation (NYSE:DHR) was -11.95%, and its shares gained 5.60% of their value over the last 52 weeks. On November 18, 2024, Danaher Corporation (NYSE:DHR) stock closed at $230.06 per share with a market capitalization of $166.485 billion.
Madison Sustainable Equity Fund stated the following regarding Danaher Corporation (NYSE:DHR) in its Q3 2024 investor letter:
“Danaher Corporation (NYSE:DHR) released its 2024 Corporate Sustainability Report. It highlighted several milestones across its three pillars of sustainability (building the best team, innovating products that improve lives and the planet, and protecting the environment). The company has committed to setting greenhouse gas emission reduction targets in line with the Science Based Targets initiatives (SBTi), including reaching net-zero value chain emissions by 2050.”
A healthcare professional in a lab coat holding a microscope and looking at a slide under the lens.
Danaher Corporation (NYSE:DHR) is in 24th position on our list of 31 Most Popular Stocks Among Hedge Funds. As per our database, 98 hedge fund portfolios held Danaher Corporation (NYSE:DHR) at the end of the third quarter which was 83 in the previous quarter. The third quarter sales of Danaher Corporation (NYSE:DHR) were $5.8 billion, representing 0.5% core revenue growth. While we acknowledge the potential of Danaher Corporation (NYSE:DHR) as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns, and doing so within a shorter timeframe. If you are looking for an AI stock that is as promising as NVIDIA but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.
In another article, we discussed Danaher Corporation (NYSE:DHR) and shared Baron Health Care Fund’s views on the company. In addition, please check out our hedge fund investor letters Q3 2024 page for more investor letters from hedge funds and other leading investors.
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Disclosure: None. This article is originally published at Insider Monkey.