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Baron Health Care Fund offloads Option Care Health.

Baron Health Care Fund offloads Option Care Health.

Baron Funds Second Quarter 2023 Investor Letter Highlights

Baron Funds, an investment management company, recently released its second quarter 2023 investor letter for the Baron Health Care Fund. The quarterly performance showed a 9.22% advancement for Institutional Shares, outperforming both the Russell 3000 Health Care Index (3.44% gain) and the S&P 500 Index (8.74% gain). Since its inception on April 30, 2018, the fund has gained 13.58% on an annualized basis, surpassing the benchmark’s 10.85% gain and the S&P 500 Index’s 12.54% return.

Stock selection played a significant role in the fund’s outperformance during the quarter. Investments in biotechnology, pharmaceuticals, and healthcare equipment contributed to most of the relative gains. For a detailed analysis of the fund’s top five holdings and its best picks in 2023, the investor letter can be downloaded here.

Option Care Health, Inc.: Featured Stock in Q2 2023 Letter

Option Care Health, Inc. (NASDAQ:OPCH) was highlighted in the second quarter 2023 investor letter of the Baron Health Care Fund. Option Care Health, Inc., based in Bannockburn, Illinois, provides home and alternate site infusion services. As of July 24, 2023, the stock closed at $32.78 per share with a one-month return of 2.86%. Over the last 52 weeks, its shares have gained 1.36% in value. Option Care Health, Inc. currently holds a market capitalization of $5.896 billion.

Baron Health Care Fund’s Comment on Option Care Health, Inc.

“We sold Option Care Health, Inc. (NASDAQ:OPCH) after the company announced its decision to acquire Amedisys, a publicly traded home health operator, because the acquisition would have increased the company’s exposure to Medicare reimbursement, which has been under pressure.”

17 Countries With Universal Health Care in 2017
17 Countries With Universal Health Care in 2017

GagliardiImages/Shutterstock.com

Option Care Health, Inc. (NASDAQ:OPCH) does not appear on our list of 30 Most Popular Stocks Among Hedge Funds. However, our database shows that 36 hedge fund portfolios held Option Care Health, Inc. (NASDAQ:OPCH) at the end of the first quarter, compared to 35 in the previous quarter.

To learn more about Option Care Health, Inc. (NASDAQ:OPCH) and other medical stocks favored by analysts, you can refer to our previous article. Additionally, our hedge fund investor letters Q2 2023 page provides access to more investor letters from leading hedge funds and investors.

For more investment-related articles, visit Insider Monkey.

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