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Here’s Why Artisan Partners Mid Cap Fund Harvested Agilent Technologies (A)

Artisan Partners, an investment management company, released its “Artisan Mid Cap Fund” third quarter 2023 investor letter. A copy of the same can be downloaded here. Inflation remained on a downward trend in the quarter and the fund’s Investor Class fund ARTMX returned -2.95%, Advisor Class fund APDMX posted a return of -2.92%, and Institutional Class fund APHMX returned -2.90%, compared to a -5.22% return for the Russell Midcap Growth Index. In addition, please check the fund’s top five holdings to know its best picks in 2023.

Artisan Mid Cap Fund highlighted stocks like Agilent Technologies, Inc. (NYSE:A) in the Q3 2023 investor letter. Headquartered in Santa Clara, California, Agilent Technologies, Inc. (NYSE:A) is an application-focused solutions provider for life sciences, diagnostics, and applied chemical markets. On December 5, 2023, Agilent Technologies, Inc. (NYSE:A) stock closed at $127.88 per share. One-month return of Agilent Technologies, Inc. (NYSE:A) was 16.90%, and its shares lost 16.82% of their value over the last 52 weeks. Agilent Technologies, Inc. (NYSE:A) has a market capitalization of $37.649 billion.

Artisan Mid Cap Fund made the following comment about Agilent Technologies, Inc. (NYSE:A) in its Q3 2023 investor letter:

"We ended our investment campaigns in Agilent Technologies, Inc. (NYSE:A), Teledyne and Envista during the quarter. Agilent is an analytical technology provider with strength in the life sciences industry. While its management continues to execute well, we believe several important end markets have entered extended periods of slower growth, including pharmaceutical small molecule research and China. Therefore, we decided to harvest the position in favor of accelerating profit cycle opportunities elsewhere in the portfolio."

A scientist working with a microscope in a laboratory, using the companys life science platform.

Agilent Technologies, Inc. (NYSE:A) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 45 hedge fund portfolios held Agilent Technologies, Inc. (NYSE:A) at the end of third quarter which was 46 in the previous quarter.

We discussed Agilent Technologies, Inc. (NYSE:A) in another article and shared Madison Investors Fund's views on the company. In addition, please check out our hedge fund investor letters Q3 2023 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.