Invesco Distributors, Inc., an investment management firm, released its “Invesco Small Cap Value Fund” third quarter 2024 investor letter. A copy of the letter can be downloaded here. In the third quarter, the fund underperformed the benchmark due to stock selection and an overweight in industrials. A lack of exposure to real estate also detracted from relative performance. In addition, you can check the fund’s top 5 holdings to determine its best picks for 2024.
Invesco Small Cap Value Fund highlighted stocks like Integra LifeSciences Holdings Corporation (NASDAQ:IART) in the third quarter 2024 investor letter. Integra LifeSciences Holdings Corporation (NASDAQ:IART) manufacturers and distributes surgical instruments, neurosurgical products, and wound care products. The one-month return of Integra LifeSciences Holdings Corporation (NASDAQ:IART) was -3.65%, and its shares lost 50.05% of their value over the last 52 weeks. On December 18, 2024, Integra LifeSciences Holdings Corporation (NASDAQ:IART) stock closed at $22.16 per share with a market capitalization of $1.71 billion.
Invesco Small Cap Value Fund stated the following regarding Integra LifeSciences Holdings Corporation (NASDAQ:IART) in its Q3 2024 investor letter:
“Integra LifeSciences Holdings Corporation (NASDAQ:IART): The company manufactures and sells surgical instruments, neurosurgical products and wound care products for use in a variety of medical specialties. The company lowered guidance for 2024 because a decision to optimize its manufacturing processes apparently created a temporary headwind but should in our view better position the company for the long term.”
A close-up of a surgeon’s hands manipulating a medical instrument during a surgery.
Integra LifeSciences Holdings Corporation (NASDAQ:IART) is not on our list of 31 Most Popular Stocks Among Hedge Funds. As per our database, 22 hedge fund portfolios held Integra LifeSciences Holdings Corporation (NASDAQ:IART) at the end of the third quarter which was 21 in the previous quarter. Integra LifeSciences Holdings Corporation’s (NASDAQ:IART) third quarter total revenues were around $381 million, which was approximately flat on a reported basis and down 8.6% on an organic basis compared Q3 2023. While we acknowledge the potential of Integra LifeSciences Holdings Corporation (NASDAQ:IART) as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns, and doing so within a shorter timeframe. If you are looking for an AI stock that is as promising as NVIDIA but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.
In addition, please check out our hedge fund investor letters Q3 2024 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.