Polaris Capital Management, an investment management company, released its third quarter 2024 investor letter. A copy of the same can be downloaded here. Global markets were in solidly positive territory for the third straight quarter of 2024 despite geopolitical volatility. Polaris Global Equity Composite (net of fees) returned 6.86% in the quarter, compared to 6.46% return for the MSCI World Index, gross dividends reinvested. In addition, check the fund’s top five holdings to know its best picks in 2024.
Polaris Global Equity Strategy highlighted stocks like United Therapeutics Corporation (NASDAQ:UTHR), in the third quarter 2024 investor letter. United Therapeutics Corporation (NASDAQ:UTHR) is a biotechnology company. The one-month return of United Therapeutics Corporation (NASDAQ:UTHR) was -2.46%, and its shares gained 64.24% of their value over the last 52 weeks. On December 20, 2024, United Therapeutics Corporation (NASDAQ:UTHR) stock closed at $359.58 per share with a market capitalization of $16.053 billion.
Polaris Global Equity Strategy stated the following regarding United Therapeutics Corporation (NASDAQ:UTHR) in its Q3 2024 investor letter:
“U.S. biopharma/biotech companies topped the health care sector, with the majority of holdings posting returns in excess of 10%. United Therapeutics Corporation (NASDAQ:UTHR) was upgraded by brokerage/investment bank Oppenheimer & Co. based on potential Tyvaso sales metrics in treating idiopathic pulmonary fibrosis. The U.S. Food and Drug Administration (FDA) also postponed until 2025 the final approval of Liquidia’s Yutrepia inhalation powder to treat adults with pulmonary disease, which ensures a dearth of competition for UTHR’s Tyvaso DPI for the next few quarters.”
A team of scientists in a laboratory, running tests on a biotechnology product.
United Therapeutics Corporation (NASDAQ:UTHR) is not on our list of 31 Most Popular Stocks Among Hedge Funds. As per our database, 39 hedge fund portfolios held United Therapeutics Corporation (NASDAQ:UTHR) at the end of the third quarter which was 42 in the previous quarter. United Therapeutics Corporation (NASDAQ:UTHR) achieved a remarkable revenue of $749 million in the third quarter 2024, representing a 23% increase from Q3 2023. While we acknowledge the potential of United Therapeutics Corporation (NASDAQ:UTHR) 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 United Therapeutics Corporation (NASDAQ:UTHR) and shared the list of best stocks to buy which are part of the Renaissance Technologies portfolio. 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.