Artisan Partners, an investment management company, released its “Artisan Small Cap Fund” fourth quarter 2022 investor letter. A copy of the same can be downloaded here. In the fourth quarter, its Investor Class fund ARTSX returned 6.27%, Advisor Class fund APDSX posted a return of 6.31%, and Institutional Class fund APHSX returned 6.38%, compared to a return of 4.13% for the Russell 2000 Growth Index. Security selection, especially strong holdings in the healthcare sector, drove the fund’s outperformance in the quarter. In addition, please check the fund’s top five holdings to know its best picks in 2022.
Artisan Small Cap Fund highlighted stocks like ShockWave Medical, Inc. (NASDAQ:SWAV) in the Q4 2022 investor letter. Headquartered in Santa Clara, California, ShockWave Medical, Inc. (NASDAQ:SWAV) is a medical device company. On March 1, 2023, ShockWave Medical, Inc. (NASDAQ:SWAV) stock closed at $189.29 per share. One-month return of ShockWave Medical, Inc. (NASDAQ:SWAV) was -0.11%, and its shares gained 6.21% of their value over the last 52 weeks. ShockWave Medical, Inc. (NASDAQ:SWAV) has a market capitalization of $6.908 billion.
Artisan Small Cap Fund made the following comment about ShockWave Medical, Inc. (NASDAQ:SWAV) in its Q4 2022 investor letter:
“Among our bottom contributors were ShockWave Medical, Inc. (NASDAQ:SWAV), Advanced Drainage Systems and Wolfspeed. From a fundamental standpoint, we believe it was a good quarter for Shockwave. The company received FDA approval for its C2 Plus intravascular lithotripsy (IVL) device for coronary procedures much earlier than expected. Its C2 Plus product provides a 50% increase in treatment capacity versus the current C2 device and is currently in limited launch in Europe. Shockwave believes it will likely launch in the US in the second half of 2023, but it now has increased flexibility with this approval. Despite the positive catalyst, the company sold off in the quarter as it appears investors took profits after a year of material outperformance.”
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ShockWave Medical, Inc. (NASDAQ:SWAV) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 38 hedge fund portfolios held ShockWave Medical, Inc. (NASDAQ:SWAV) at the end of the fourth quarter which was 34 in the previous quarter.
We discussed ShockWave Medical, Inc. (NASDAQ:SWAV) in another article and shared the list of most promising medical stocks according to analysts. 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.
