SRK Capital, an investment management company, recently released its fourth-quarter investor letter. A copy of the same can be downloaded here. In 2022, SRK Fund I, LP appreciated by 35.31% while the S&P 500 and the Russell 2000 declined by -18.11% and -20.47%, respectively. In addition, you can check the top 5 holdings of the fund to know its best picks in 2022.
SRK Capital highlighted stocks like Harrow Health, Inc. (NASDAQ:HROW) in its Q4 2022 investor letter. Headquartered in San Diego, California, Harrow Health, Inc. (NASDAQ:HROW) is an ophthalmic-focused healthcare company. On February 15, 2023, Harrow Health, Inc. (NASDAQ:HROW) stock closed at $18.13 per share. One-month return of Harrow Health, Inc. (NASDAQ:HROW) was 29.13%, and its shares gained 125.22% of their value over the last 52 weeks. Harrow Health, Inc. (NASDAQ:HROW) has a market capitalization of $540.094 million.
SRK Capital made the following comment about Harrow Health, Inc. (NASDAQ:HROW) in its Q4 2022 investor letter:
“Harrow Health, Inc. (NASDAQ:HROW) is an ophthalmology focused healthcare company. The core legacy business, ImprimisRx, is a compounding pharmacy that formulates solutions for ophthalmologists and their patients. ImprimisRx has used their designation as a 503B pharmacy to create a dominant position in this market. To further strengthen their dominant market position, the company has begun offering branded pharmaceutical products (BPP) by acquiring FDA approved products. Harrow Health has high margins, high returns on capital, and a large economic moat with a management team that understands their business exceptionally well. For more details, please refer to my previous letters to you regarding Harrow Health.
The past six months were highly transformational for Harrow Health. At the end of September, the company received approval from the U.S. Food and Drug Administration (FDA) for IHEEZO (formerly known as AMP-100) for ocular surface anesthesia. Management believes that IHEEZO has the capability to double their revenues by the end of 2024 due to their existing market position in eye surgery, specifically cataract surgery. In mid-December, Harrow announced a highly accretive acquisition of the U.S. rights to five Novartis ophthalmic products. This is the second deal that Harrow has completed with Novartis as they move forward with their exit from non-core ophthalmology products. The acquisition will add an estimated $33 million of EBITDA to HROW and further serves to strengthen the ImprimisRx platform…” (Click here to read the full text)
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Harrow Health, Inc. (NASDAQ:HROW) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 13 hedge fund portfolios held Harrow Health, Inc. (NASDAQ:HROW) at the end of the third quarter, which was 13 in the previous quarter.
We discussed Harrow Health, Inc. (NASDAQ:HROW) in another article and shared the list of stocks insiders are buying. In addition, please check out our hedge fund investor letters Q4 2022 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.
