Next Century Growth Investors, LLC, an investment Management Company, released its “Small Cap Strategy” second-quarter 2024 investor letter. A copy of the letter can be downloaded here. The equities market in 2024 saw mixed results in the second quarter. Small-cap indices generally posted negative results, whereas large-cap indices posted favorable results. The strategy returned (3.32)% net of fees in the quarter, compared to a (2.91)% return for the Russell 2000 Growth Index. In addition, please check the fund’s top five holdings to know its best picks in 2024.
NCG Small Cap Strategy highlighted stocks like Artivion, Inc. (NYSE:AORT), in the second quarter 2024 investor letter. Artivion, Inc. (NYSE:AORT) is a global manufacturer and distributor of medical devices and implantable human tissues. The one-month return of Artivion, Inc. (NYSE:AORT) was 0.37%, and its shares gained 58.75% of their value over the last 52 weeks. On August 29, 2024, Artivion, Inc. (NYSE:AORT) stock closed at $26.86 per share with a market capitalization of $1.125 billion.
NCG Small Cap Strategy stated the following regarding Artivion, Inc. (NYSE:AORT) in its Q2 2024 investor letter:
“Artivion, Inc. (NYSE:AORT) is a medical device company with a vast portfolio of market-leading products that treat patients with aortic disease. AORT has historically generated solid organic revenue growth, positive profit margins, and positive cash flow, and we believe the company is on the verge of seeing accelerating business growth as the company’s development pipeline of innovative products converts into approved products over the coming years.”
A biomedical technician testing and calibrating medical equipment to be deployed.
Artivion, Inc. (NYSE:AORT) is not on our list of 31 Most Popular Stocks Among Hedge Funds. As per our database, 15 hedge fund portfolios held Artivion, Inc. (NYSE:AORT) at the end of the second quarter which was 11 in the previous quarter. In Q2 2024, Artivion, Inc. (NYSE:AORT) achieved 11% year-over-year constant currency revenue growth, while adjusted EBITDA grew by 35% compared to Q2 2023. While we acknowledge the potential of Artivion, Inc. (NYSE:AORT) 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 Artivion, Inc. (NYSE:AORT) and shared Wasatch Micro Cap Growth—U.S. Strategy’s views on the company. 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.
