Fred Alger Management, an investment management company, released its “Alger Small Cap Focus Fund” first quarter 2023 investor letter. A copy of the same can be downloaded here. In the first quarter, the fund underperformed the Russell 2000 Growth Index. The Health Care and Energy sectors contributed to the fund’s relative performance in the quarter, while Information Technology and Industrials detracted from performance. In addition, you can check the top 5 holdings of the fund to know its best picks in 2023.
Alger Small Cap Focus Fund highlighted stocks like Heska Corporation (NASDAQ:HSKA) in the first quarter 2023 investor letter. Based in Loveland, Colorado, Heska Corporation (NASDAQ:HSKA) manufactures and sells veterinary diagnostic and specialty products and solutions. On May 8, 2023, Heska Corporation (NASDAQ:HSKA) stock closed at $116.81 per share. One-month return of Heska Corporation (NASDAQ:HSKA) was -0.43%, and its shares gained 30.67% of their value over the last 52 weeks. Heska Corporation (NASDAQ:HSKA) has a market capitalization of $1.269 billion.
Alger Small Cap Focus Fund made the following comment about Heska Corporation (NASDAQ:HSKA) in its Q1 2023 investor letter:
"Heska Corporation (NASDAQ:HSKA) sells diagnostic tools and specialty products to the animal health market. Specifically, Heska sells blood testing and supplies, digital imaging products, software and single-use products primarily for cats and dogs. The company also offers private label vaccines and pharmaceutical produces primarily for cattle and other small mammals. Shares contributed to performance after the company reported strong fiscal fourth quarter results, where better-than-expected revenues were driven mainly by the consumables segment, as strong global analyzer placement growth, premium chemistry placement growth, and general price strength helped offset inflation. Additionally, management initiated a 2023 revenue outlook ahead of consensus. On April 3, 2023, Heska announced that private company Mars, Incorporated had agreed to take it private at $120 per share."
Heska Corporation (NASDAQ:HSKA) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 14 hedge fund portfolios held Heska Corporation (NASDAQ:HSKA) at the end of the fourth quarter which was 14 in the previous quarter.
We discussed Heska Corporation (NASDAQ:HSKA) in another article and shared the list of stocks that recently received ratings cut from analysts. In addition, please check out our hedge fund investor letters Q1 2023 page for more investor letters from hedge funds and other leading investors.
Disclosure: None. This article is originally published at Insider Monkey.