Scout Investments, Inc, an affiliate of Carillon Tower Advisers, Inc, released the “Carillon Scout Mid Cap Fund” third quarter 2023 investor letter. A copy of the same can be downloaded here. Major equity indices began the quarter on a positive note, but as the quarter progressed, they succumbed to increased interest rates and economic concerns. Large caps outperformed mid and small caps in a restricted market driven by a number of giant tech and media businesses that controlled the performance of the S&P 500 Index. In addition, please check the fund’s top five holdings to know its best picks in 2023.
Carillon Scout Mid Cap Fund highlighted stocks like Edwards Lifesciences Corporation (NYSE:EW) in the third quarter 2023 investor letter. Headquartered in Irvine, California, Edwards Lifesciences Corporation (NYSE:EW) is a medical technology company. On December 19, 2023, Edwards Lifesciences Corporation (NYSE:EW) stock closed at $75.31 per share. One-month return of Edwards Lifesciences Corporation (NYSE:EW) was 12.30%, and its shares gained 0.74% of their value over the last 52 weeks. Edwards Lifesciences Corporation (NYSE:EW) has a market capitalization of $45.676 billion.
Carillon Scout Mid Cap Fund made the following comment about Edwards Lifesciences Corporation (NYSE:EW) in its Q3 2023 investor letter:
“Edwards Lifesciences Corporation (NYSE:EW) was the bottom contributor for the quarter. The company’s relatively large position in the portfolio hurt performance as the stock slid on fears of negative clinical trial results for low-risk transcatheter aortic valve replacement (TAVR) patients. The company’s stock price may have also been affected by concerns about the popularity of glucagon-like peptide 1 (GLP-1) agonists for treating diabetes and weight loss, which may impact the demand for heart valve replacement over the longer term. Only about 1% of the U.S. population takes GLP-1 medication, but it is a rapidly growing trend.”
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Edwards Lifesciences Corporation (NYSE:EW) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 48 hedge fund portfolios held Edwards Lifesciences Corporation (NYSE:EW) at the end of third quarter which was 51 in the previous quarter.
We discussed Edwards Lifesciences Corporation (NYSE:EW) in another article and shared the list of best medical device stocks to buy. 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.
