Should You Hold Shockwave Medical (SWAV)?

Alger Capital, an investment management company, released its “Alger Small Cap Focus Fund” fourth quarter investor letter. A copy of the same can be downloaded here. In the fourth quarter, the fund underperformed the Russell 2000 Growth Index. The Energy and Communication Services sectors contributed to the fund’s relative performance in the quarter, while Consumer Discretionary and Information Technology detracted from performance. In addition, you can check the top 5 holdings of the fund to know its best picks in 2022.

Alger Small Cap Focus Fund highlighted stocks like ShockWave Medical, Inc. (NASDAQ:SWAV) in the Q4 2022 investor letter. Headquartered in Santa Clara, California, ShockWave Medical, Inc. (NASDAQ:SWAV) is a medical device company. On March 15, 2023, Shockwave Medical, Inc. (NASDAQ:SWAV) stock closed at $201.61 per share. One-month return of Shockwave Medical, Inc. (NASDAQ:SWAV) was 5.42%, and its shares gained 14.73% of their value over the last 52 weeks. Shockwave Medical, Inc. (NASDAQ:SWAV) has a market capitalization of $7.358 billion.

Alger Small Cap Focus Fund made the following comment about Shockwave Medical, Inc. (NASDAQ:SWAV) in its Q4 2022 investor letter:

ShockWave Medical, Inc. (NASDAQ:SWAV) provides novel solutions for treating patients with peripheral and coronary artery diseases. Their Intravascular lithotripsy (IVL) system delivers sonic pressure waves via a specialized catheter to crack calcium, allowing a safe and easy-to-use treatment that enables better patient results. Shares underperformed during the period as the company reported modest fiscal third quarter results versus analyst estimates However, we continue to believe the company is well positioned to gain momentum in the coronary and peripheral markets, driven by new account growth and accelerating utilization.”

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Shockwave Medical, Inc. (NASDAQ:SWAV) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 38 hedge fund portfolios held ShockWave Medical, Inc. (NASDAQ:SWAV) at the end of the fourth quarter which was 34 in the previous quarter.

We discussed Shockwave Medical, Inc. (NASDAQ:SWAV) in another article and shared the list of best small-cap stocks that are ready to explode. 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.