Aristotle Atlantic Partners, an investment management firm, released its “Aristotle Atlantic Large Cap Growth Fund” second quarter 2023 investor letter, a copy of which can be downloaded here. For the second quarter of 2023, Aristotle Atlantic’s Large Cap Growth Composite posted a total return of 13.28% gross of fees (13.19% net of fees), outperforming the 12.81% return of the Russell 1000 Growth Index. Spare some time to check the fund’s top 5 holdings to know more about their top bets for 2023.
In its Q2 2023 investor letter, Aristotle Large Cap Growth mentioned Thermo Fisher Scientific Inc. (NYSE:TMO) and explained its insights for the company. Founded in 1956, Thermo Fisher Scientific Inc. (NYSE:TMO) is a Waltham, Massachusetts-based biotechnology company with a $213.5 billion market capitalization. Thermo Fisher Scientific Inc. (NYSE:TMO) delivered a 0.56% return since the beginning of the year, while its 12-month returns are down by -6.14%. The stock closed at $553.76 per share on August 02, 2023.
Here is what Aristotle Large Cap Growth has to say about Thermo Fisher Scientific Inc. (NYSE:TMO) in its Q2 2023 investor letter:
“Shares of Thermo Fisher were weak during the second quarter, following an inline earnings report where the company maintained full-year guidance. There were some concerns after the CEO referred to the guidance as ”ambitious” on the earnings call and concerns grew as several bioprocessing suppliers warned of sluggish sales. The company is more diversified than its peers; however, the warnings affected the entire life science and tools sector. In addition, the company conveyed a moderately more cautious tone on the most recent earnings call, stating that the macroeconomic backdrop was beginning to cause customers to exercise more caution. We believe Thermo Fisher is well-positioned to continue to gain market share.”
Photo by National Cancer Institute on Unsplash
Our calculations show that Thermo Fisher Scientific Inc. (NYSE:TMO) ranks 21st on our list of the 30 Most Popular Stocks Among Hedge Funds. Thermo Fisher Scientific Inc. (NYSE:TMO) was in 98 hedge fund portfolios at the end of the first quarter of 2023, compared to 92 funds in the previous quarter. Thermo Fisher Scientific Inc. (NYSE:TMO) delivered a 1.49% return in the past 3 months.
We also discussed Thermo Fisher Scientific Inc. (NYSE:TMO) in another article. You can find other investor letters from hedge funds and prominent investors on our hedge fund investor letters Q2 2023 page.
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Disclosure: None. This article is originally published at Insider Monkey.
