Here’s Why ShockWave Medical (SWAV) Outperformed in the Third Quarter

Carillon Tower Advisers, an investment management company, released its “Carillon Eagle Small Cap Growth Fund” third quarter 2022 investor letter. A copy of the same can be downloaded here. The fund delivered negative returns in the third quarter. The portfolio recorded impressive gains at the beginning of the quarter. In contrast, there was a disappointing selloff at the end of the quarter. The Russell 2000 Growth Index was 0.26% up compared to a 4.60% decline for its counterpart, the Russell 2000 Value Index. In addition, you can check the top 5 holdings of the fund to know its best picks in 2022.

In the third-quarter letter, Carillon Tower Advisers discussed stocks like ShockWave Medical, Inc. (NASDAQ:SWAV). Headquartered in Santa Clara, California, ShockWave Medical, Inc. (NASDAQ:SWAV) is a medical device company. On October 27, 2022, ShockWave Medical, Inc. (NASDAQ:SWAV) stock closed at $273.12 per share. One-month return of ShockWave Medical, Inc. (NASDAQ:SWAV) was -1.78% and its shares gained 27.81% of their value over the last 52 weeks. ShockWave Medical, Inc. (NASDAQ:SWAV) has a market capitalization of $9.813 billion.

Carillon Tower Advisers made the following comment about ShockWave Medical, Inc. (NASDAQ:SWAV) in its Q3 2022 investor letter:

ShockWave Medical, Inc. (NASDAQ:SWAV) is a medical device company focused on developing products to treat calcified cardiovascular disease. The company continues to make gains in the adoption of intravascular lithotripsy and recently received approval from the Japanese Ministry of Health to begin marketing its catheters in Japan. Shockwave has been able to consistently surpass earnings expectations and subsequently raise future guidance, and continues to achieve noteworthy revenue growth. These factors have contributed to the stock’s outperformance since becoming a public company.”

ShockWave Medical, Inc. (NASDAQ:SWAV) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 27 hedge fund portfolios held ShockWave Medical, Inc. (NASDAQ:SWAV) at the end of the second quarter which was 31 in the previous quarter.

We discussed ShockWave Medical, Inc. (NASDAQ:SWAV) in another article and shared Baron Funds’ views on the company. In addition, please check out our hedge fund investor letters Q3 2022 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.