Hardman Johnston Global Advisors, an investment management company, released its “Hardman Johnston Global Equity” fourth quarter 2024, investor letter. A copy of the letter can be downloaded here. The fourth quarter concluded the portfolio’s successful year in comparison to its benchmark index. The strategy returned -0.17%, net of fees, in the quarter, compared to -0.99% return for the MSCI AC World Net Index. From a sector standpoint, the main drivers of the portfolio’s outperformance during the quarter were Industrials and Materials. In addition, please check the fund’s top five holdings to know its best picks in 2024.
In its fourth quarter 2024 investor letter, Hardman Johnston Global Equity Strategy emphasized stocks such as Elanco Animal Health Incorporated (NYSE:ELAN). Elanco Animal Health Incorporated (NYSE:ELAN) is an animal health company that develops products for pets and farm animals. The one-month return Elanco Animal Health Incorporated (NYSE:ELAN) was -3.99%, and its shares lost 33.12% of their value over the last 52 weeks. On March 20, 2025, Elanco Animal Health Incorporated (NYSE:ELAN) stock closed at $10.58 per share with a market capitalization of $5.23 billion.
Hardman Johnston Global Equity Strategy stated the following regarding Elanco Animal Health Incorporated (NYSE:ELAN) in its Q4 2024 investor letter:
“The top sector detractors from relative performance during the quarter were Health Care and Consumer Discretionary. Within Health Care, the top detracting holdings were IQVIA Holdings Inc. and Elanco Animal Health Incorporated (NYSE:ELAN). Elanco is a global leader in animal health pharmaceutical products. The stock has struggled due to concerns about the launch of the company’s Zenrelia drug, which is a JAK inhibitor for dogs with various forms of dermatitis. The drug has to include a black box warning due to usage around the timing of vaccinations. Despite that, the label is better than initially feared, and feedback from experts is positive. Aside from this, Elanco’s investment thesis remains attractive, with five product launches in the next year helping both top and bottom-line growth.”
A farmer tending to a herd of cattle with Innovative Parasiticide and Vaccine Products.
Elanco Animal Health Incorporated (NYSE:ELAN) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 37 hedge fund portfolios held Elanco Animal Health Incorporated (NYSE:ELAN) at the end of the fourth quarter which was 42 in the previous quarter. While we acknowledge the potential of Elanco Animal Health Incorporated (NYSE:ELAN) 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 Elanco Animal Health Incorporated (NYSE:ELAN) and shared the list of most undervalued biotech stocks to invest in. In addition, please check out our hedge fund investor letters Q4 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.