TimesSquare Capital Management, an equity investment management company, released its “U.S. Mid Cap Growth Strategy” fourth-quarter investor letter. A copy of the same can be downloaded here. In the fourth quarter, the strategy returned 4.18% (net), compared to 6.90% for the Russell Midcap Growth Index. For the calendar year, the strategy returned -22.13% (net) compared to the benchmark’s return of -26.72%. Weakness in Consumer Staples, Energy, Health Care, Information Technology, and Real Estate holdings led to the underperformance of the portfolio in the quarter. In addition, please check the fund’s top five holdings to know its best picks in 2022.
TimesSquare U.S. Mid Cap Growth Strategy highlighted stocks like IDEXX Laboratories, Inc. (NASDAQ:IDXX) in the Q4 2022 investor letter. Headquartered in Westbrook, Maine, IDEXX Laboratories, Inc. (NASDAQ:IDXX) engages in the development and manufacturing of products and services for animal veterinary, livestock and poultry, dairy, and water testing. On March 30, 2023, IDEXX Laboratories, Inc. (NASDAQ:IDXX) stock closed at $493.55 per share. One-month return of IDEXX Laboratories, Inc. (NASDAQ:IDXX) was 1.14%, and its shares lost 10.82% of their value over the last 52 weeks. IDEXX Laboratories, Inc. (NASDAQ:IDXX) has a market capitalization of $40.917 billion.
TimesSquare U.S. Mid Cap Growth Strategy made the following comment about IDEXX Laboratories, Inc. (NASDAQ:IDXX) in its Q4 2022 investor letter:
“IDEXX Laboratories, Inc. (NASDAQ:IDXX) develops and manufactures products for the animal veterinary, livestock, poultry, and dairy markets. Their stock climbed 25% as the third quarter results were largely ahead of Street expectations. Management narrowed short-term guidance as they continue to experience solid, yet somewhat moderated growth due to capacity constraints in U.S. markets and some macro-related volatility in its international business.”
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IDEXX Laboratories, Inc. (NASDAQ:IDXX) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 37 hedge fund portfolios held IDEXX Laboratories, Inc. (NASDAQ:IDXX) at the end of the fourth quarter which was 45 in the previous quarter.
We discussed IDEXX Laboratories, Inc. (NASDAQ:IDXX) in another article and shared Baron Asset Fund’s views on the company. 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.
