Wasatch Global Investors, an asset management company, released its “Wasatch Micro Cap Growth—U.S. Strategy” first-quarter 2024 investor letter. A copy of the letter can be downloaded here. During the first quarter, the micro-cap equities performed well. The strategy had a double-digit gain in the quarter, outperforming the Russell Microcap Growth Index benchmark, which rose 6.60%. In addition, you can check the top 5 holdings of the fund to know its best picks in 2024.
Wasatch Micro Cap Growth—U.S. Strategy highlighted stocks like Artivion, Inc. (NYSE:AORT), in the first quarter 2024 investor letter. Artivion, Inc. (NYSE:AORT) is a medical device company that manufactures medical devices and implantable human tissues. The one-month return of Artivion, Inc. (NYSE:AORT) was -2.69%, and its shares gained 44.72% of their value over the last 52 weeks. On June 17, 2024, Artivion, Inc. (NYSE:AORT) stock closed at $ 23.17 per share with a market capitalization of $966.986 million.
Wasatch Micro Cap Growth—U.S. Strategy stated the following regarding Artivion, Inc. (NYSE:AORT) in its first quarter 2024 investor letter:
“We’re finding many attractive opportunities in the micro-cap space, including Artivion, Inc. (NYSE:AORT), a medical device company that develops solutions for the surgical treatment of aortic heart disease. Artivion’s On-X aortic valve provides significant clinical benefits and is the only mechanical aortic valve for which patients can be safely managed with blood thinners. In the intervening time since we last owned Artivion, the company’s JOTEC product line is much closer to U.S. approval, its business is better positioned to handle a debt refinancing and its management team is stronger.”
A biomedical technician testing and calibrating medical equipment to be deployed.
Artivion, Inc. (NYSE:AORT) is not on our list of 31 Most Popular Stocks Among Hedge Funds. As per our database, 11 hedge fund portfolios held Artivion, Inc. (NYSE:AORT) at the end of the first quarter which was 14 in the previous quarter. Artivion, Inc. (NYSE:AORT) reported 16% year over year revenue growth in constant currency in the first quarter. While we acknowledge the potential of Artivion, Inc. (NYSE:AORT) 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 addition, please check out our hedge fund investor letters Q1 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.
