Carillon Tower Advisers, an investment management company, released its “Carillon Eagle Mid Cap Growth Fund” third quarter 2023 investor letter. A copy of the same can be downloaded here. In the third quarter, mid-cap stocks had negative returns, reversing their positive returns in the first half of the year. The Russell Midcap Growth Index was down 5.22% slightly trailing the Russell Midcap Value Index which was down 4.46%. In addition, you can check the top 5 holdings of the fund to know its best picks in 2023.
Carillon Eagle Mid Cap Growth Fund highlighted stocks like DexCom, Inc. (NASDAQ:DXCM) in the third quarter 2023 investor letter. Headquartered in San Diego, California, DexCom, Inc. (NASDAQ:DXCM) is a medical device company. On October 23, 2023, DexCom, Inc. (NASDAQ:DXCM) stock closed at $84.35 per share. One-month return of DexCom, Inc. (NASDAQ:DXCM) was -11.64%, and its shares lost 16.69% of their value over the last 52 weeks. DexCom, Inc. (NASDAQ:DXCM) has a market capitalization of $32.717 billion.
Carillon Eagle Mid Cap Growth Fund made the following comment about DexCom, Inc. (NASDAQ:DXCM) in its Q3 2023 investor letter:
“DexCom, Inc. (NASDAQ:DXCM) develops and manufactures continuous glucose monitors (CGMs) for people with diabetes. This stock was off significantly in the third quarter after posting solid second-quarter results. The selloff in the stock started with the release of clinical trial results on Aug. 8 showing that patients who took another company’s glucagon-like peptide 1 (GLP-1) agonist drug for diabetes and weight loss experienced significant weight loss that appeared to lead to a notable reduction in cardiovascular events, including death, heart attack, and stroke. Investors viewed this as a threat because the GLP-1 agonist drugs can potentially reduce the incidence of obesity. In theory, this could lower demand for insulin, insulin pumps, and CGMs, of which Dexcom is a market leader.”
A pharmacy worker placing wireless handheld personal diabetes managers against the light. Editorial photo for a financial news article. 8k. –ar 16:9
DexCom, Inc. (NASDAQ:DXCM) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 58 hedge fund portfolios held DexCom, Inc. (NASDAQ:DXCM) at the end of second quarter which was 66 in the previous quarter.
We discussed DexCom, Inc. (NASDAQ:DXCM) in another article and shared the list of Aristotle Large Cap Growth Strategy’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.
