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Natera (NTRA) Rose on Momentum in the Oncology Market

Baron Funds, an investment management company, released its “Baron Health Care Fund” first quarter 2024 investor letter. A copy of the same can be downloaded here. The fund advanced 8.92% (Institutional Shares) in the quarter compared to an 8.52% gain for the Russell 3000 Health Care Index (benchmark) and a 10.56% increase for the S&P 500 Index. The fund rose 13.61% on an annualized basis since its inception on April 30, 2018, compared to an 11.45% gain for the benchmark and a 14.24% gain for the index. In addition, please check the fund’s top five holdings to know its best picks in 2024.

Baron Health Care Fund featured stocks like Natera, Inc. (NASDAQ:NTRA) in the Q1 2024 investor letter. Headquartered in Austin, Texas, Natera, Inc. (NASDAQ:NTRA) is a diagnostics company. On April 23, 2024, Natera, Inc. (NASDAQ:NTRA) stock closed at $91.04 per share. One-month return of Natera, Inc. (NASDAQ:NTRA) was 0.64%, and its shares gained 82.92% of their value over the last 52 weeks. Natera, Inc. (NASDAQ:NTRA) has a market capitalization of $10.994 billion.

Baron Health Care Fund stated the following regarding Natera, Inc. (NASDAQ:NTRA) in its first quarter 2024 investor letter:

"Solid stock selection in life sciences tools & services was mainly due to double-digit gains from clinical genetic testing company Natera, Inc. (NASDAQ:NTRA) and global contract research organization ICON Plc. Natera’s stock was bolstered by significant momentum in the oncology market, where its personalized blood-based DNA test Signatera is driving strong testing volume growth. The test detects and quantifies how much residual cancer DNA remains in the body after surgery. Signatera helps physicians determine whether chemotherapy is necessary after surgery and monitor for cancer recurrence before the cancer is detectable with standard imaging. We think Natera has a long runway for growth with expanding margins and profitability."

A laboratory environment with technicians in lab coats conducting molecular testing services.


Natera, Inc. (NASDAQ:NTRA) is not on our list of 30 Most Popular Stocks Among Hedge Funds. At the end of the fourth quarter, Natera, Inc. (NASDAQ:NTRA) was held by 50 hedge fund portfolios, up from 49 in the previous quarter, according to our database.

We discussed Natera, Inc. (NASDAQ:NTRA) in another article where we shared the list of stocks receiving a massive vote of approval from Wall Street analysts. In addition, please check out our hedge fund investor letters Q1 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.