Polen Capital, an investment management company, released its “Polen U.S. SMID Company Growth” second quarter 2022 investor letter. A copy of the same can be downloaded here. In the second quarter, the fund underperformed its benchmark, the Russell 2500 Growth Index, and returned -28.35% net of fees. Poor performance of consumer discretionary and financials sectors impacted the fund’s performance in the quarter. In addition, please check the fund’s top five holdings to know its best picks in 2022.
In the second quarter 2022 investor letter, Polen Capital discussed stocks like Charles River Laboratories International, Inc. (NYSE:CRL). Headquartered in Wilmington, Massachusetts, Charles River Laboratories International, Inc. (NYSE:CRL) is a non-clinical research organization. On September 29, 2022, Charles River Laboratories International, Inc. (NYSE:CRL) stock closed at $190.01 per share. One-month return of Charles River Laboratories International, Inc. (NYSE:CRL) was -6.51% and its shares lost 53.96% of their value over the last 52 weeks. Charles River Laboratories International, Inc. (NYSE:CRL) has a market capitalization of $9.665 billion.
Here is what Polen Capital specifically said about Charles River Laboratories International, Inc. (NYSE:CRL) in its Q2 2022 investor letter:
“Charles River Laboratories International, Inc. (NYSE:CRL) provides essential products and services to the biopharmaceutical industry, government agencies and leading academic institutions to improve and accelerate drug development and manufacturing. Charles River is a contract research organization (CRO) focused on non-clinical drug development. The company has been in business for over 70 years providing the research models for pre-clinical trials and early drug development. Over time, they expanded on core competencies to move into attractive adjacencies such as drug discovery, safety assessment, laboratory practices, and biologic-related manufacturing services. The company is uniquely positioned to benefit from secular growth in the pharmaceutical and biotechnology industry with a strong business model and leadership that meets our flywheel investment criteria. We believe the current market turmoil gives us an opportunity to own a great business with a long-term track record for consistent compounding at an attractive price.”
Charles River Laboratories International, Inc. (NYSE:CRL) is not on the list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 45 hedge fund portfolios held Charles River Laboratories International, Inc. (NYSE:CRL) at the end of the second quarter which was 44 in the previous quarter.
We discussed Charles River Laboratories International, Inc. (NYSE:CRL) in another article and shared Baron Funds’ views on the company. In addition, please check out our hedge fund investor letters Q2 2022 page for more investor letters from hedge funds and other leading investors.
Disclosure: None. This article is originally published at Insider Monkey.
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