Aristotle Capital Boston, LLC, an investment advisor, released its “Small/Mid Cap Equity Strategy” first quarter 2023 investor letter. A copy of the same can be downloaded here. In the first quarter, Aristotle Small/Mid Cap Equity Composite delivered a return of 0.93% net of fees, trailing the Russell 2500 Index’s 3.39% total return. Security selection drove the fund to underperform in the quarter while allocation effects positively contributed. Security selection in Energy, Communication Services, and Health Care contributed while holdings in Financials, Information Technology, and Industrials sectors detracted. From an allocation perspective, overweight exposures in Information Technology and Industrials helped the fund in the quarter, partially offset by underweights in Consumer Discretionary and Communication Services. In addition, you can check the top 5 holdings of the fund to know its best picks in 2023.
Aristotle Small/Mid Cap Equity Strategy highlighted stocks like Teleflex Incorporated (NYSE:TFX) in the first quarter 2023 investor letter. Headquartered in Wayne, Pennsylvania, Teleflex Incorporated (NYSE:TFX) is a medical device company. On June 16, 2023, Teleflex Incorporated (NYSE:TFX) stock closed at $252.40 per share. One-month return of Teleflex Incorporated (NYSE:TFX) was 3.54%, and its shares gained 3.05% of their value over the last 52 weeks. Teleflex Incorporated (NYSE:TFX) has a market capitalization of $11.856 billion.
Aristotle Small/Mid Cap Equity Strategy made the following comment about Teleflex Incorporated (NYSE:TFX) in its first quarter 2023 investor letter:
“Teleflex Incorporated (NYSE:TFX), a global provider of primarily single-use medical devices used by hospitals and healthcare providers for common diagnostic, therapeutic procedures, and surgical applications was added to the portfolio on our belief that the company’s diverse portfolio of industry leading brands can drive shareholder value as procedure volumes continue to recover. Furthermore, company specific margin improvement initiatives, product mix shift towards faster growing, more profitable products, and increased penetration internationally should also benefit shareholders over the next several years, in our view.”
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Teleflex Incorporated (NYSE:TFX) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 19 hedge fund portfolios held Teleflex Incorporated (NYSE:TFX)at the end of first quarter 2023 which was 21 in the previous quarter.
We discussed Teleflex Incorporated (NYSE:TFX) in another article and shared Baron Asset Fund’s views on the company. In addition, please check out our hedge fund investor letters Q1 2023 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.
