Aristotle Atlantic Focus Growth Sold Horizon Therapeutics Public Limited Company (HZNP) on Acquisition News

Aristotle Atlantic Partners, LLC, an investment advisor, released its “Focus Growth Strategy” first quarter 2023 investor letter. A copy of the same can be downloaded here. In the first quarter, Aristotle Atlantic’s Focus Growth strategy returned 13.05% (net) underperforming the Russell 1000 Growth Index’s return of 14.37%. Allocation effects led the portfolio to underperform in the quarter relative to its benchmark, while security selection modestly contributed. Security selection in Information Technology, Financials, and Health Care contributed to the relative performance of the strategy in the quarter, while holdings in Consumer Discretionary and Consumer Staples, as well as overweight exposure in Health Care, detracted. In addition, you can check the top 5 holdings of the fund to know its best picks in 2023.

Aristotle Atlantic Focus Growth Strategy highlighted stocks like Horizon Therapeutics Public Limited Company (NASDAQ:HZNP) in the first quarter 2023 investor letter. Headquartered in Dublin, Ireland, Horizon Therapeutics Public Limited Company (NASDAQ:HZNP) is a biotechnology company. On April 26, 2023, Horizon Therapeutics Public Limited Company (NASDAQ:HZNP) stock closed at $110.53 per share. One-month return of Horizon Therapeutics Public Limited Company (NASDAQ:HZNP) was 1.18%, and its shares gained 8.13% of their value over the last 52 weeks. Horizon Therapeutics Public Limited Company (NASDAQ:HZNP) has a market capitalization of $25.25 billion.

Aristotle Atlantic Focus Growth Strategy made the following comment about Horizon Therapeutics Public Limited Company (NASDAQ:HZNP)  in its Q1 2023 investor letter:

“We sold Horizon Therapeutics Public Limited Company (NASDAQ:HZNP) after Amgen announced their intention to acquire Horizon for $116.50 per share. The deal is expected to close in mid-year 2023.”

Horizon Therapeutics Public Limited Company (NASDAQ:HZNP) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 75 hedge fund portfolios held Horizon Therapeutics Public Limited Company (NASDAQ:HZNP) at the end of the fourth quarter which was 57 in the previous quarter.

We discussed Horizon Therapeutics Public Limited Company (NASDAQ:HZNP) in another article and shared Aristotle Atlantic Focus Growth Strategy’s views on the company in the previous quarter. 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.