Cooper Investors, an investment management firm, released its “Cooper Investors Global Equities Fund” second quarter 2024 investor letter. A copy of the letter can be downloaded here. The fund returned -5.5% in the second quarter, compared to a 3.2% return for the benchmark. Year to date, the fund returned 7.4% compared to 19.4% for the benchmark. In addition, please check the fund’s top five holdings to know its best picks in 2024.
Cooper Investors Global Equities Fund highlighted stocks like GE HealthCare Technologies Inc. (NASDAQ:GEHC) in its Q2 2024 investor letter. GE HealthCare Technologies Inc. (NASDAQ:GEHC) develops, manufactures, and markets products, services, and complementary digital solutions used in the diagnosis, treatment, and monitoring of patients. The one-month return of GE HealthCare Technologies Inc. (NASDAQ:GEHC) was -0.33%, and its shares gained 16.77% of their value over the last 52 weeks. On August 12, 2024, GE HealthCare Technologies Inc. (NASDAQ:GEHC) stock closed at $82.37 per share with a market capitalization of $37.615 billion.
Cooper Investors Global Equities Fund stated the following regarding GE HealthCare Technologies Inc. (NASDAQ:GEHC) in its Q2 2024 investor letter:
“However, we are keen to highlight other Stalwarts and Growth businesses we own that should benefit in a more profound way than hardware makers currently enjoying an initial build-out phase. To paraphrase Salesforce CEO Mark Benioff, if hardware is the picks and shovels of GenAI then data is the real gold.
Another example is GE HealthCare Technologies Inc. (NASDAQ:GEHC), a global leader in diagnostic imaging equipment across multiple modalities. AI algorithms are making image quality better, assisting image analysis via computer vision, and enabling devices to be more accessible for new users. The next stage will be data-driven; via its many points of penetration into the patient journey, GEHC is accumulating large amounts of data across pathology, genomics, and imaging. Harnessing AI tools across that data to drive better patient outcomes should enable improved sales, margins and returns from a more competitive product offering.”
A radiologist in a lab examining a computed tomography scan of a patient.
GE HealthCare Technologies Inc. (NASDAQ:GEHC) is not on our list of 31 Most Popular Stocks Among Hedge Funds. As per our database, 56 hedge fund portfolios held GE HealthCare Technologies Inc. (NASDAQ:GEHC) at the end of the first quarter which was 44 in the previous quarter. In the second quarter, GE HealthCare Technologies Inc. (NASDAQ:GEHC) reported $4.8 billion in revenues, up 1% organically year-over-year. While we acknowledge the potential of GE HealthCare Technologies Inc. (NASDAQ:GEHC) 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 GE HealthCare Technologies Inc. (NASDAQ:GEHC) and shared Oakmark Equity and Income Fund’s views on the company. In addition, please check out our hedge fund investor letters Q2 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.
