The London Company, an investment management company, released “The London Company Mid Cap Strategy” second quarter 2024 investor letter. A copy of the letter can be downloaded here. US markets posted mixed results in 2024. The portfolio fell 5.9% (6%.0 net) during the quarter compared to a 3.4% decrease for the Russell Midcap Index. Both stock selection and sector exposure led the portfolio to lag relative to the index. In addition, you can check the fund’s top 5 holdings to determine its best picks for 2024.
The London Company Mid Cap Strategy highlighted stocks like Bruker Corporation (NASDAQ:BRKR), in the second quarter 2024 investor letter. Bruker Corporation (NASDAQ:BRKR) focuses on developing, manufacturing, and distributing scientific instruments, and analytical and diagnostic solutions. The one-month return of Bruker Corporation (NASDAQ:BRKR) was 1.49%, and its shares lost 5.36% of their value over the last 52 weeks. On August 6, 2024, Bruker Corporation (NASDAQ:BRKR) stock closed at $62.16 per share with a market capitalization of $9.407 billion.
The London Company Mid Cap Strategy stated the following regarding Bruker Corporation (NASDAQ:BRKR) in its Q2 2024 investor letter:
“Bruker Corporation (NASDAQ:BRKR) – Shares declined after the company reported weaker than expected revenue growth in its latest quarter. Additionally, the company announced the issuance of 6M shares of equity to help fund recent M&A. We believe the company has been rightfully aggressive in seizing the opportunity to pick up some distressed assets for cheap, ones that will help further progress their Project Accelerate objectives. We continue to like the company’s long-term growth prospects as they pivot toward high-end proteomics/genomics/single cell research.”
A scientist in a laboratory wearing safety gear while operating a mass spectrometry machine.
Bruker Corporation (NASDAQ:BRKR) is not on our list of 31 Most Popular Stocks Among Hedge Funds. As per our database, 30 hedge fund portfolios held Bruker Corporation (NASDAQ:BRKR) at the end of the first quarter which was 32 in the previous quarter. While we acknowledge the potential of Bruker Corporation (NASDAQ:BRKR) 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 Bruker Corporation (NASDAQ:BRKR) and shared the list of stocks Michael Burry is selling. 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.
