ClearBridge Investments, an investment management company, released its “ClearBridge Small Cap Value Strategy” second quarter 2024 investor letter. A copy of the letter can be downloaded here. Despite strong performance from healthcare holdings, the Strategy lagged its benchmark, the Russell 2000 Value Index, due to headwinds in the materials and industrial sectors. While investors continued to focus on a limited number of AI beneficiaries and bitcoin plays, the rest of the market was hit by the economic slowdown and a higher-for-longer interest rate expectation. This made the second quarter particularly difficult to navigate for small-cap stocks. In addition, please check the fund’s top five holdings to know its best picks in 2024.
ClearBridge Small Cap Value Strategy highlighted stocks like Lantheus Holdings, Inc. (NASDAQ:LNTH), in the second quarter 2024 investor letter. Lantheus Holdings, Inc. (NASDAQ:LNTH) is a company that manufactures diagnostic and therapeutic products used by healthcare providers to diagnose and treat heart, cancer, and other medical conditions. The one-month return of Lantheus Holdings, Inc. (NASDAQ:LNTH) was 1.87%, and its shares gained 69.59% of their value over the last 52 weeks. On September 24, 2024, Lantheus Holdings, Inc. (NASDAQ:LNTH) stock closed at $111.76 per share with a market capitalization of $7.76 billion.
ClearBridge Small Cap Value Strategy stated the following regarding Lantheus Holdings, Inc. (NASDAQ:LNTH) in its Q2 2024 investor letter:
“Health care results lifted relative performance during the period and included our top two individual performers in Lantheus and newer portfolio addition Corcept Therapeutics. Lantheus Holdings, Inc. (NASDAQ:LNTH), which makes diagnostic and therapeutic products that help clinicians diagnose and treat heart, cancer and other diseases, saw its share price rise on strong first-quarter results.”
A medical professional performing a pulmonary function assessment on a patient.
Lantheus Holdings, Inc. (NASDAQ:LNTH) is not on our list of 31 Most Popular Stocks Among Hedge Funds. As per our database, 34 hedge fund portfolios held Lantheus Holdings, Inc. (NASDAQ:LNTH) at the end of the second quarter which was 38 in the previous quarter. Lantheus Holdings, Inc.’s (NASDAQ:LNTH) consolidated net revenue for the second quarter was $394.1 million, an increase of 22.5% year-over-year. While we acknowledge the potential of Lantheus Holdings, Inc. (NASDAQ:LNTH) 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 addition, please check out our hedge fund investor letters Q2 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.