ClearBridge Investments, an investment management firm, released its fourth-quarter 2022 “Mid Cap Growth Strategy” investor letter – a copy of which can be downloaded here. The strategy underperformed the Russell Midcap Growth Index in the fourth quarter. It gained across six of the 10 sectors in which it was invested in the quarter. The industrials, health care, and consumer discretionary sectors were the leading contributors while the IT sector was the primary detractor. In addition, please check the fund’s top five holdings to know its best picks in 2022.
ClearBridge Mid Cap Growth Strategy highlighted stocks like Doximity, Inc. (NYSE:DOCS) in its Q4 2022 investor letter. Headquartered in San Francisco, California, Doximity, Inc. (NYSE:DOCS) provides a cloud platform for medical professionals. On February 16, 2023, Doximity, Inc. (NYSE:DOCS) stock closed at $34.77 per share. One-month return of Doximity, Inc. (NYSE:DOCS) was 9.96% and its shares lost 39.40% of their value over the last 52 weeks. Doximity, Inc. (NYSE:DOCS) has a market capitalization of $6.731 billion.
ClearBridge Mid Cap Growth Strategy made the following comment about Doximity, Inc. (NYSE:DOCS) in its Q4 2022 investor letter:
“We also added to several of our high-conviction holdings like Doximity, Inc. (NYSE:DOCS), whose cloud-based digital platform for medical professionals continues to make strides in penetrating the digital advertising environment while increasing monetization of its telemedicine business offers a strong long-term revenue growth driver. We are confident these companies will be able to push past these near-term challenges and capitalize on them as opportunities to grow.”
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Doximity, Inc. (NYSE:DOCS) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 19 hedge fund portfolios held Doximity, Inc. (NYSE:DOCS) at the end of the third quarter, which was 12 in the previous quarter.
We discussed Doximity, Inc. (NYSE:DOCS) 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 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.