Summers Value Partners, an investment management company, released its fourth quarter 2024 investor letter. A copy of the letter can be downloaded here. The Summers Value Fund LP returned a net1 return of 27.4% in 2024 outperforming 11.3% return for its primary benchmark, the Russell 2000 Index ETF (IWM). The fund also outperformed its secondary benchmark, the Russell 2000 Value Index ETF (IWN), which returned 7.7% for the year. The Fund achieved profitability on both the long and short positions in its portfolio throughout the year. In addition, you can check the fund’s top 5 holdings to find out its best picks for 2024.
Summers Value Partners highlighted stocks like Electromed, Inc. (NYSEMKT:ELMD) in the fourth quarter 2024 investor letter. Electromed, Inc. (NYSEMKT:ELMD) engages in the manufacturing of airway clearance therapy and related products that apply high frequency chest wall oscillation (HFCWO) therapy in pulmonary care. The one-month return of Electromed, Inc. (NYSEMKT:ELMD) was 14.50%, and its shares gained 240.17% of their value over the last 52 weeks. On January 30, 2024, Electromed, Inc. (NYSEMKT:ELMD) stock closed at $35.14 per share with a market capitalization of $297.214 million.
Summers Value Partners stated the following regarding Electromed, Inc. (NYSEMKT:ELMD) in its Q4 2024 investor letter:
“Electromed, Inc. (NYSEMKT:ELMD): We have held Electromed in the Fund since its inception in 2018, and I currently serve on the company’s board of directors. The new management team at Electromed delivered an exceptional year in 2024 achieving record sales, profits, and cash flow. As a result, the stock appreciated by 176%. Electromed markets the SmartVest device, which treats the respiratory condition bronchiectasis and has continued to gain share due to its superior product profile and singular focus on this growing market. The stock narrowly missed inclusion in the Russell 2000 Small-Cap Index in the year.”
A smiling healthcare worker holding a SmartVest airway clearance system. .
Electromed, Inc. (NYSEMKT:ELMD) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 8 hedge fund portfolios held Electromed, Inc. (NYSEMKT:ELMD) at the end of the third quarter which was 7 in the previous quarter. While we acknowledge the potential of Electromed, Inc. (NYSEMKT:ELMD) 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 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.