Baron Funds, an investment management company, released its “Baron Health Care Fund” third quarter 2023 investor letter. A copy of the same can be downloaded here. The fund declined 6.05% (Institutional Shares) in the quarter compared to a 3.88% loss for the Russell 3000 Health Care Index and a 3.27% loss for the S&P 500 Index. Year-to-date through September 30, 2023, the fund declined 1.17%, compared to a 3.83% decline for the Russell 3000 Health Care Index and a 13.07% increase for the S&P 500 Index. The combination of stock selection and active sub-industry weights drove the underperformance of the fund in the quarter. In addition, please check the fund’s top five holdings to know its best picks in 2023.
Baron Health Care Fund highlighted stocks like Danaher Corporation (NYSE:DHR) in the third quarter 2023 investor letter. Headquartered in Washington, the District of Columbia, Danaher Corporation (NYSE:DHR) designs, manufactures, and markets professional, medical, industrial, and commercial products and services. On October 19, 2023, Danaher Corporation (NYSE:DHR) stock closed at $207.30 per share. One-month return of Danaher Corporation (NYSE:DHR) was -5.84%, and its shares lost 4.38% of their value over the last 52 weeks. Danaher Corporation (NYSE:DHR) has a market capitalization of $153.06 billion.
Baron Health Care Fund made the following comment about Danaher Corporation (NYSE:DHR) in its Q3 2023 investor letter:
“We added to Danaher Corporation (NYSE:DHR), which recently completed the spinoff of its non-life sciences businesses to become a pure-play life sciences tools company. Although near-term trends in the bioprocessing market remain challenging, we like the long-term growth drivers in this business and think Danaher is well positioned.”
A healthcare professional in a lab coat holding a microscope and looking at a slide under the lens. Editorial photo for a financial news article. 8k. –ar 16:9
Danaher Corporation (NYSE:DHR) is in 29th position on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 89 hedge fund portfolios held Danaher Corporation (NYSE:DHR) at the end of the second quarter, which was 90 in the previous quarter.
We discussed Danaher Corporation (NYSE:DHR) in another article and shared the list of Bill Gates’ investment company’s newest stock picks. In addition, please check out our hedge fund investor letters Q3 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.
