Is it Still Safe to Invest in Siemens (SIEGY)?

Polen Capital, an investment management firm, released its “Polen Global Growth” third quarter 2023 investor letter, a copy of which can be downloaded here. Polen Capital’s Global Growth Composite Portfolio, referred to as the “Portfolio,” experienced a decrease of -3.19% and -3.46% gross and net of fees, which closely tracked the performance of the MSCI ACWI, known as the “Index,” which declined by -3.40% over the quarter. Take a moment to review the fund’s top 5 holdings to gain insights into their primary investment choices for 2023.

In its Q3 2023 investor letter, Polen Global Growth mentioned Siemens Aktiengesellschaft (NYSE:SIEGY) and explained its insights for the company. Siemens Aktiengesellschaft (NYSE:SIEGY) is a Munich, Germany-based multinational technology conglomerate with a $108.3 billion market capitalization. Siemens Aktiengesellschaft (NYSE:SIEGY) delivered a -0.57% return since the beginning of the year, while its 12-month returns are up by 21.08%. The stock closed at $68.40 per share on November 3, 2023.

Here is what Polen Global Growth has to say about Siemens Aktiengesellschaft (NYSE:SIEGY) in its Q3 2023 investor letter:

“Regarding Siemens Healthineers, the fundamentals are intact despite many moving parts from the decline in COVID-19 antigen testing revenues. To put this in perspective, COVID-19 testing revenues have fallen from €680m last year to €4m in the past quarter. Adjusting for some of these non-recurring events shows comparable revenue growth of 11%. Beginning in 2024, we expect headwinds from COVID-19 antigen testing and costs from the Corrindus acquisition to abate, revenues to accelerate, and margins to expand across all divisions.”

A doctor using the cutting-edge patient management software in their office.

Our calculations show that Siemens Aktiengesellschaft (NYSE:SIEGY) does not belong on our list of the 30 Most Popular Stocks Among Hedge Funds. Siemens Aktiengesellschaft (NYSE:SIEGY) was in 3 hedge fund portfolios at the end of the second quarter of 2023, compared to 3 funds in the previous quarter. Siemens Aktiengesellschaft (NYSE:SIEGY) delivered a -15.71% return in the past 3 months. You can find other investor letters from hedge funds and prominent investors on our hedge fund investor letters Q3 2023 page.

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Disclosure: None. This article is originally published at Insider Monkey.