Summers Value Partners, an investment management company, released its fourth quarter 2024 investor letter. A copy of the letter can be downloaded here. The Summers Value Fund LP returned a net1 return of 27.4% in 2024 outperforming 11.3% return for its primary benchmark, the Russell 2000 Index ETF (IWM). The fund also outperformed its secondary benchmark, the Russell 2000 Value Index ETF (IWN), which returned 7.7% for the year. The Fund achieved profitability on both the long and short positions in its portfolio throughout the year. In addition, you can check the fund’s top 5 holdings to find out its best picks for 2024.
Summers Value Partners highlighted stocks like Utah Medical Products, Inc. (NASDAQ:UTMD) in the fourth quarter 2024 investor letter. Utah Medical Products, Inc. (NASDAQ:UTMD) is a global provider of medical devices for the healthcare industry. The one-month return of Utah Medical Products, Inc. (NASDAQ:UTMD) was -0.21%, and its shares lost 20.47% of their value over the last 52 weeks. On January 30, 2024, Utah Medical Products, Inc. (NASDAQ:UTMD) stock closed at $61.22 per share with a market capitalization of $207.63 million.
Summers Value Partners stated the following regarding Utah Medical Products, Inc. (NASDAQ:UTMD) in its Q4 2024 investor letter:
“Utah Medical Products, Inc. (NASDAQ:UTMD): Utah Medical is also on our detractor list for the second year in a row. The company’s business prospects continued to deteriorate in 2024, falling short of our expectations. The business was negatively impacted by a class action lawsuit related to its Filshie Clip product and the loss of a major customer in the OEM segment. While Utah Medical has a history of generating strong cash flow and maintaining a rock-solid balance sheet, its future earnings prospects face significant uncertainty. We exited our position during the year, realizing a manageable loss on the investment.”
A doctor in a medical facility demonstrating a procedure with a state-of-the-art medical device.
Utah Medical Products, Inc. (NASDAQ:UTMD) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 12 hedge fund portfolios held Utah Medical Products, Inc. (NASDAQ:UTMD) at the end of the third quarter which was 9 in the previous quarter. While we acknowledge the potential of Utah Medical Products, Inc. (NASDAQ:UTMD) 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 Q3 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.