Aristotle Capital Management, LLC, an investment management company, released its “Global Equity Strategy” third quarter 2023 investor letter. A copy of the same can be downloaded here. In the third quarter, the fund returned ‐4.06% gross of fees (‐4.13% net of fees), underperforming the MSCI World Index’s ‐3.46% return and the MSCI ACWI Index’s ‐3.40% return. The underperformance of the strategy relative to the MSCI World Index can be attributed to security selection, while allocation effects had a positive impact. At the same time, underperformance relative to the MSCI World Index was due to both allocation effects and security selection. In addition, you can check the top 5 holdings of the fund to know its best picks in 2023.
Aristotle Capital Global Equity Strategy highlighted stocks like Jazz Pharmaceuticals plc (NASDAQ:JAZZ) in the third quarter 2023 investor letter. Headquartered in Dublin, Ireland, Jazz Pharmaceuticals plc (NASDAQ:JAZZ) is a biopharmaceutical company. On October 12, 2023, Jazz Pharmaceuticals plc (NASDAQ:JAZZ) stock closed at $128.02 per share. One-month return of Jazz Pharmaceuticals plc (NASDAQ:JAZZ) was -3.37%, and its shares lost 3.90% of their value over the last 52 weeks. Jazz Pharmaceuticals plc (NASDAQ:JAZZ) has a market capitalization of $8.083 billion.
Aristotle Capital Global Equity Strategy made the following comment about Jazz Pharmaceuticals plc (NASDAQ:JAZZ) in its Q3 2023 investor letter:
“During the quarter, we sold our position in Magna International and invested in a new position, Jazz Pharmaceuticals plc (NASDAQ:JAZZ). Founded in 2003, Jazz Pharmaceuticals is a global biopharmaceutical company headquartered in Ireland. The drugmaker’s portfolio of nine approved products focuses on conditions with limited therapeutic treatments in neuroscience (~75% of 2022 revenue) and oncology (~25%).
Jazz’s drug Xyrem was added to its portfolio in 2005 and was approved for use in patients with narcolepsy. The drug’s strong efficacy propelled it to be the standard of care for this incurable sleep condition and has achieved wide adoption for the treatment of excessive daytime sleepiness and cataplexy (episodes of loss of muscle control)…
Xyrem’s patent exclusivity ended in January 2023, and authorized generic versions of the product have entered the market. To prepare for the patent cliff, the company developed Xywav, a lower‐sodium version of Xyrem, which is touted for its potentially better heart safety. The drug has received FDA approval for the treatment of narcolepsy and idiopathic hypersomnia and has orphan drug exclusivity through 2027…” (Click here to read the full text)
A scientist in a laboratory looking through a microscope, surrounded by petri dishes and beakers while researching new biopharmaceutical advances. Editorial photo for a financial news article. 8k. –ar 16:9
Jazz Pharmaceuticals plc (NASDAQ:JAZZ) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 44 hedge fund portfolios held Jazz Pharmaceuticals plc (NASDAQ:JAZZ) at the end of the second quarter, which was 40 in the previous quarter.
We discussed Jazz Pharmaceuticals plc (NASDAQ:JAZZ) in another article and shared the list of best cancer stocks to buy. 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.
