Alger Capital, an investment management company, released its “Alger Weatherbie Specialized Growth Fund” fourth quarter 2022 investor letter. A copy of the same can be downloaded here. During the quarter, Class A shares of the fund underperformed the Russell 2500 Growth Index. The fund returned 3.01% (without sales charges) compared to 4.72% for the benchmark. The Energy and Industrials sectors contributed to the fund’s relative performance in the quarter, while Information Technology and Health Care sectors detracted from performance. In addition, you can check the top 5 holdings of the fund to know its best picks in 2022.
Alger Weatherbie Specialized Growth Fund highlighted stocks like Glaukos Corporation (NYSE:GKOS) in the Q4 2022 investor letter. Headquartered in San Clemente, California, Glaukos Corporation (NYSE:GKOS) is an ophthalmic medical technology and pharmaceutical company. On February 24, 2023, Glaukos Corporation (NYSE:GKOS) stock closed at $47.60 per share. One-month return of Glaukos Corporation (NYSE:GKOS) was -1.41%, and its shares lost 13.94% of their value over the last 52 weeks. Glaukos Corporation (NYSE:GKOS) has a market capitalization of $2.273 billion.
Alger Weatherbie Specialized Growth Fund made the following comment about Glaukos Corporation (NYSE:GKOS) in its Q4 2022 investor letter:
“Glaukos Corporation (NYSE:GKOS) is an ophthalmic medical technology and pharmaceutical company, which focuses on novel therapies for the treatment of glaucoma. corneal disorders and retinal diseases. The company engages in the development and commercialization of therapies across several end markets within ophthalmology During the quarter, Glaukos reported that the underlying core US. glaucoma business, which is about 52% of sales as of fiscal third quarter, remains stable where new products are set to drive additional growth in the second half of 2023. However, shares fell as their international business reported meaningful foreign currency headwinds that they expect to persist into 2023.”
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Glaukos Corporation (NYSE:GKOS) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 21 hedge fund portfolios held Glaukos Corporation (NYSE:GKOS) at the end of the fourth quarter which was 26 in the previous quarter.
We discussed Glaukos Corporation (NYSE:GKOS) in another article and shared the list of small innovative companies according to the media. In addition, please check out our hedge fund investor letters Q4 2022 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.
