Core Viewpoint - Mid-cap stocks are currently trading at a significant discount of 30% compared to large-cap stocks, presenting a unique investment opportunity for those willing to explore beyond the popular large-cap market [2]. Valuation and Market Trends - Historically, mid-cap stocks have traded at par or even at a premium to large caps due to their faster growth potential [2]. - The valuation discount has widened recently as large-cap technology stocks, particularly early "AI Enablers," have driven larger gains in the market [2]. Performance Metrics - Over the past 30 years, mid-cap stocks have generated annualized returns of 11.2%, compared to 10.9% for large caps, while maintaining a similar risk-adjusted profile with a Sortino ratio of 0.80 versus 0.90 for large caps [3][4]. Macroeconomic Factors - The Federal Reserve's shift from raising interest rates to cutting them may serve as a catalyst for mid-cap outperformance, as these stocks are considered "long duration" assets that typically benefit during rate-cutting cycles [3]. - Lower interest rates are expected to spur merger and acquisition activity, which tends to favor mid-sized companies [3]. Analyst Coverage and Investment Opportunities - Mid-cap stocks receive less analyst coverage than large caps, with an average of 13.5 analysts per mid-cap stock compared to 24.5 for large caps, creating inefficiencies that active managers can exploit [4]. - There are opportunities in mid-sized companies that are adopting artificial intelligence to enhance margins or boost revenue, which remain largely undiscovered by Wall Street [5]. Investment Strategy - The Alger Mid Cap 40 ETF (FRTY) employs a concentrated approach with approximately 40 holdings and an active share of 78%, focusing on companies undergoing "Positive Dynamic Change" through factors like new management or product innovation [6].

Group 1 - The document does not contain any relevant information regarding companies or industries [2][3][5][6]

Core Insights - Fiserv, Inc. (FISV) is a global provider of payments and financial services technology solutions with a market cap of $37.5 billion, operating through Merchant Solutions and Financial Solutions segments [1] - The company serves a diverse client base, including businesses, banks, credit unions, fintechs, public sector entities, and software providers [2] Stock Performance - FISV shares have declined 71.3% from their 52-week high of $238.59 and dropped 48.5% over the past three months, underperforming the Nasdaq Composite's 3.3% rise [3] - Year-to-date, FISV stock is down 66.7%, lagging behind the Nasdaq's 19.5% gain, and has decreased 66.4% over the past 52 weeks compared to the Nasdaq's 14.4% return [4] - The stock has been trading below its 50-day moving average since early March and below its 200-day moving average since late April [4] Recent Financial Results - Fiserv reported weaker-than-expected Q3 2025 results, with adjusted EPS of $2.04 and revenue of $4.92 billion, leading to a 44% drop in shares on October 29 [5] - The company cut its full-year outlook for the second consecutive quarter, reducing revenue growth expectations to 3.5% - 4% from 10% and lowering adjusted EPS guidance to $8.50 - $8.60 [5] Analyst Sentiment - Analysts remain cautious on Fiserv due to its weak stock performance, with a consensus rating of "Hold" from 34 analysts and a mean price target of $82.10, representing a 21% premium to current levels [6]

Core Insights - Regency Centers Corporation (REG) is a leading REIT focused on grocery-anchored shopping centers in affluent suburban areas, with a market cap of $12.4 billion and a portfolio of over 480 properties [1][2] Financial Performance - REG stock reached a three-year high of $78.18 on March 4 but is currently trading 12.7% below that peak, with a 3.8% decline over the past three months, slightly underperforming the Real Estate Select Sector SPDR Fund (XLRE) which dipped 3.3% [3] - Year-to-date, REG stock has dropped 7.7% and 9.5% over the past 52 weeks, contrasting with XLRE's slight uptick of 59 basis points in 2025 and a 4.5% decline over the past year [4] - Following the release of Q3 results on October 28, despite better-than-expected revenues, REG stock prices fell 3.1% [5] Revenue and Growth - Regency reported a 7.7% year-over-year increase in overall revenues for Q3, totaling $387.6 million, surpassing consensus estimates by 60 basis points [5] - The company's Nariet FFO per share grew 7.5% year-over-year to $1.15, aligning with market expectations, and the increase in same property NOI led to an upward revision of full-year earnings growth guidance [6] - The company has made over $750 million in capital investments year-to-date, enhancing its property portfolio [5]

Core Insights - EMCOR Group, Inc. is a leading provider in mechanical and electrical construction, industrial and energy infrastructure, and building services, with a market cap of $27.9 billion [1][2] Financial Performance - EMCOR's stock reached an all-time high of $778.64 on October 29, but is currently trading 19.8% below that peak [3] - Over the past three months, EME stock has seen a marginal decline of 74 basis points, underperforming the S&P 500 Index, which increased by 3% during the same period [3] - Year-to-date, EME stock prices have increased by 37.5%, and over the past 52 weeks, they have risen by 30.2%, outperforming the S&P 500's gains of 15.9% and 12.7%, respectively [4] - Following the release of Q3 results on October 30, which showed a 16.4% year-over-year revenue increase to $4.3 billion, EME stock prices fell by 16.6% despite a 13.3% growth in EPS to $6.57 [5] - The company has a record $12.6 billion in remaining performance obligations, indicating a strong future growth trajectory [6]

Core Insights - Universal Health Services, Inc. (UHS) is a significant player in the healthcare sector, operating acute care hospitals, behavioral health facilities, and outpatient services, with a market capitalization of $13.9 billion [1][2] Company Performance - UHS is classified as a large-cap stock, reflecting its substantial size and influence in the medical care facilities industry, benefiting from operational expertise and steady demand [2] - The company's stock is currently trading 9.6% below its 52-week high of $246.33, but has gained 16.1% over the past three months, outperforming the S&P 500 Index's 3.7% increase during the same period [3] - Over the past 52 weeks, UHS shares have increased by 19.4%, surpassing the S&P 500's 12.8% rise, and are up 24.1% year-to-date compared to the S&P 500's 16.1% return [4] Recent Financial Results - UHS reported better-than-expected Q3 earnings, with a 13.4% year-over-year revenue increase to $4.5 billion, exceeding consensus estimates by 4.4% [5] - The adjusted EPS rose by 53.4% from the previous year to $5.69, significantly above analyst expectations of $4.66 [5] - The company has raised its fiscal 2025 revenue and earnings guidance, indicating strong operational momentum [5] Competitive Landscape - UHS has underperformed compared to its rival HCA Healthcare, which has seen a 55.4% increase over the past 52 weeks and a 61.5% rise year-to-date [6]

Company Overview - Incyte Corporation, based in Wilmington, Delaware, has a market cap of $18.7 billion and focuses on the discovery, development, and commercialization of innovative therapeutics across the U.S., Europe, Canada, and Japan [1] - The company is classified as a "large-cap" stock, with a strong clinical-stage pipeline supported by internal research and strategic collaborations [2] Stock Performance - Incyte's shares are down 12.7% from their 52-week high of $109.28, but have risen 14.8% over the past three months, outperforming the Nasdaq Composite's 4.8% gain during the same period [3] - Year-to-date, INCY stock is up 38.1%, exceeding the Nasdaq's 20.1% increase, and has gained 34.7% over the past 52 weeks compared to the Nasdaq's 16.5% return [4] Financial Results - Incyte reported Q3 2025 results on October 28, with adjusted EPS of $2.26 and total revenue of $1.37 billion, reflecting a 20% year-over-year increase [5] - The company reported strong product performance, with Jakafi revenue at $791 million, Opzelura at $188 million, and early uptake of Niktimvo generating $46 million in sales [5] - Incyte raised its full-year 2025 net product revenue guidance to between $4.23 billion and $4.32 billion, although the stock fell 1.5% on the day of the announcement [5] Analyst Sentiment - Compared to rival Exelixis, which has gained 22.8% year-to-date and 16.2% over the past 52 weeks, Incyte's performance has been stronger [6] - Analysts maintain a consensus rating of "Moderate Buy" for Incyte, with a mean price target of $101, indicating a potential premium of 5.9% to current levels [6]

Company Overview - Hologic, Inc. is based in Marlborough, Massachusetts and specializes in developing, manufacturing, and supplying diagnostic products, imaging systems, and surgical products for women's health, focusing on early detection and treatment globally [1] - The company has a market capitalization of $16.7 billion, categorizing it as a large-cap stock within the medical instruments and supplies industry [2] Stock Performance - Hologic's stock reached a 52-week high of $76.29 on December 12, 2024, and is currently trading 1.9% below this peak [3] - Over the past three months, Hologic's stock has increased by 12.7%, outperforming the Nasdaq Composite's 7% gains during the same period [3] - Year-to-date, Hologic's stock prices have gained 3.8%, but have decreased by 93 basis points over the past 52 weeks, significantly lagging behind the Nasdaq's 22.2% surge in 2025 and 17.8% returns over the past year [4] Financial Performance - Following the release of better-than-expected Q3 results on November 3, Hologic's stock saw a marginal uptick [5] - The company reported a 6.2% year-over-year growth in overall topline revenue, reaching $1.1 billion, driven by a 5.2% increase in US revenues and a 9.4% surge in international revenues, exceeding market expectations by 1.5% [5] - Despite facing challenges with gross margins due to product mix and increased tariff expenses, Hologic's non-GAAP operating margins improved by 120 basis points year-over-year to 31.2% [6] - The company's non-GAAP EPS rose by 11.9% year-over-year to $1.13, surpassing consensus estimates by 2.7% [6] Competitive Position - Hologic has outperformed its peer, Align Technology, Inc., which experienced a 21.4% decline year-to-date and a 31.6% plunge over the past 52 weeks [7]

Company Overview - Best Buy Co., Inc. (BBY) has a market cap of $15.5 billion and is a leading multinational specialty retailer of consumer electronics, appliances, and related services, operating in the U.S. and Canada [1] - The company serves customers through various brands including Best Buy, Geek Squad, Lively, and Pacific Kitchen and Home [1][2] Stock Performance - Shares of Best Buy have declined 19.2% from their 52-week high of $91.68, and over the past three months, the shares have decreased 5.5%, underperforming the State Street SPDR S&P Retail ETF (XRT) [3][4] - Year-to-date, BBY stock is down 13.6%, while XRT has gained 10.4%, and over the past 52 weeks, BBY shares have dipped 14.9%, compared to XRT's 4.2% rise [4] - Despite this underperformance, BBY stock has risen above its 200-day moving average since late September [4] Recent Financial Results - On November 25, shares of Best Buy jumped 5.3% following better-than-expected Q3 2026 results, reporting adjusted EPS of $1.40 and revenue of $9.67 billion [5] - The company experienced enterprise comparable-sales growth of 2.7%, driven by strength in computing, gaming, and mobile phones [5] - Best Buy raised its 2026 adjusted EPS guidance to a range of $6.25 - $6.35, further boosting investor confidence [5] Analyst Sentiment - Despite underperformance compared to rivals like Ulta Beauty, which has returned 38.1% YTD, analysts maintain a moderately optimistic outlook for Best Buy [6] - The stock has a consensus rating of "Moderate Buy" from 24 analysts, with a mean price target of $83.68, representing an 11.8% premium to current levels [6]

Company Overview - Omnicom Group Inc. (OMC) is valued at a market cap of $14.9 billion and is based in New York, providing services in advertising, marketing, and corporate communications [1] - The company is classified as a "large-cap stock" due to its market cap exceeding $10 billion, highlighting its size and influence in the advertising agencies industry [2] Performance Metrics - OMC's shares have slipped 17.1% below its 52-week high of $93.42, reached on December 11, 2024, and have gained 1.9% over the past three months, underperforming the Dow Jones Industrial Average's 5.6% rise [3] - Year-to-date, OMC shares are down 10%, while the Dow Jones Industrial Average has returned 13%. Over the past 52 weeks, OMC has fallen 16.3%, significantly lagging behind the Dow's 8.6% increase [4] Recent Earnings Report - On October 21, OMC reported Q3 earnings that exceeded expectations, with overall revenue climbing 4% year-over-year to $4 billion, surpassing consensus estimates [5] - The adjusted EPS advanced 10.3% from the previous year to $2.24, exceeding analyst expectations of $2.15 [5] - OMC has outperformed its rival WPP plc, which has seen a decline of 61.3% over the past 52 weeks and 57.6% year-to-date [5] Market Position - OMC works with many of the world's largest brands, offering integrated, data-driven marketing solutions through well-known agency networks like BBDO, DDB, TBWA, OMD, and FleishmanHillard [2] - The company is recognized for its creative excellence and global scale, effectively combining strategy, media, and analytics to enhance brand presence and customer engagement [2] Technical Indicators - OMC has recently started trading above its 200-day and 50-day moving averages since early December, indicating a potential bullish trend [4]