Wasatch Global Investors, an investment management firm, published its “Wasatch Micro Cap Fund” first quarter 2021 investor letter – a copy of which can be downloaded here. A return of 10.95% was recorded by the fund for the Q1 of 2021, trailing the benchmark, Russell Microcap Index, which rose 23.89% for the same period. You can view the fund’s top 5 holdings to have a peek at their top bets for 2021.
Wasatch Micro Cap, in its Q1 2021 investor letter, mentioned Silk Road Medical, Inc. (NASDAQ: SILK), and shared their insights on the company. Silk Road Medical, Inc. is a Sunnyvale, California-based surgical equipment producer that currently has a $1.7 billion market capitalization. Since the beginning of the year, SILK delivered a -18.53% return, while its 12-month gains are up by 35.74%. As of May 07, 2021, the stock closed at $51.31 per share.
Here is what Wasatch Micro Cap has to say about Silk Road Medical, Inc. in its Q1 2021 investor letter:
“Silk Road Medical, Inc. (SILK) was also a significant detractor. The company provides implantable devices for the treatment of carotidartery disease in high-risk patients. Cautious forward guidance from Silk Road seemed to discourage some investors—who may have misconstrued management’s conservatism as a downbeat outlook. Rising long-term interest rates and a lack of news concerning the company’s approval pathway for addressing the standard-risk patient market also appeared to weigh on the stock during the first quarter. We maintained our position.”
Our calculations show that Silk Road Medical, Inc. (NASDAQ: SILK) does not belong in our list of the 30 Most Popular Stocks Among Hedge Funds. As of the end of the fourth quarter of 2020, Silk Road Medical, Inc. was in 27 hedge fund portfolios compared to 20 funds in the third quarter. SILK delivered a -11.94% return in the past 3 months.
The top 10 stocks among hedge funds returned 231.2% between 2015 and 2020, and outperformed the S&P 500 Index ETFs by more than 126 percentage points. We know it sounds unbelievable. You have been dismissing our articles about top hedge fund stocks mostly because you were fed biased information by other media outlets about hedge funds’ poor performance. You could have doubled the size of your nest egg by investing in the top hedge fund stocks instead of dumb S&P 500 ETFs. Here you can watch our video about the top 5 hedge fund stocks right now. All of these stocks had positive returns in 2020.
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Disclosure: None. This article is originally published at Insider Monkey.
