Here’s What Alger Capital Said About Definitive Healthcare Corp. (DH)
Alger Capital, an investment management company, released its “Alger Weatherbie Specialized Growth Fund” third quarter 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 Information technology and Industrials sectors contributed to the fund’s relative performance in the quarter, while Health Care and Energy sectors detracted from performance. In addition, you can check the top 5 holdings of the fund to know its best picks in 2022.
Alger Capital highlighted stocks like Definitive Healthcare Corp. (NASDAQ:DH) in the Q3 2022 investor letter. Headquartered in Framingham, Massachusetts, Definitive Healthcare Corp. (NASDAQ:DH) is a healthcare information provider. On November 30, 2022, Definitive Healthcare Corp. (NASDAQ:DH) stock closed at $11.37 per share. One-month return of Definitive Healthcare Corp. (NASDAQ:DH) was -17.79%, and its shares lost 60.29% of their value over the last 52 weeks. Definitive Healthcare Corp. (NASDAQ:DH) has a market capitalization of $1.195 billion.
Alger Capital made the following comment about Definitive Healthcare Corp. (NASDAQ:DH) in its Q3 2022 investor letter:
"Definitive Healthcare Corp. (NASDAQ:DH) engages in the provision of healthcare commercial intelligence. Its solution offers information on healthcare providers and their activities to help its customers optimize their business from product development to go-to- market planning, sales, and marketing execution. Shares underperformed during the period. During the company's fiscal second quarter results earnings call, management noted some lengthening of sales cycles towards the end of the quarter for new logos tied to uncertainty in the broader economy. We believe this issue is not company-specific, as the elongating sales cycle theme due to macroeconomic concerns was highlighted by several other software companies during the quarter. Despite these challenges, demand in their sales pipeline remains strong moreover, up selling to existing customers has seen minimal sales cycle disruptions, as existing clients understand the value of the definitive modules they provide."
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Definitive Healthcare Corp. (NASDAQ:DH) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 11 hedge fund portfolios held Definitive Healthcare Corp. (NASDAQ:DH) at the end of the third quarter, which was 7 in the previous quarter.
We discussed Definitive Healthcare Corp. (NASDAQ:DH) in another article and shared Baron Funds’ views on the company. In addition, please check out our hedge fund investor letters Q3 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.
