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 likePenumbra, Inc. (NYSE:PEN) in the third quarter 2023 investor letter. Headquartered in Alameda, California, Penumbra, Inc. (NYSE:PEN) designs and manufactures medical devices. On October 26, 2023, Penumbra, Inc. (NYSE:PEN) stock closed at $193.08 per share. One-month return of Penumbra, Inc. (NYSE:PEN) was -20.19%, and its shares gained 13.92% of their value over the last 52 weeks. Penumbra, Inc. (NYSE:PEN) has a market capitalization of $7.421 billion.
Carillon Eagle Mid Cap Growth Fund made the following comment about Penumbra, Inc. (NYSE:PEN) in its Q3 2023 investor letter:
“Penumbra, Inc. (NYSE:PEN) designs, develops, manufactures, and markets medical devices for patients suffering from stroke and other neurovascular diseases. This stock was off significantly after posting second-quarter earnings that did not meet investor expectations. The results did, however, meet consensus estimates. This, combined with a complete investors’ strike in medical technology stocks driven by concerns over the impact that GLP-1 agonists could have on the demand for certain medical devices tied to chronic conditions such as obesity, diabetes, and cardiovascular disease, maintained pressure on the stock throughout the quarter.”
A neurologist performing a diagnosis on a patient with neuromuscular disorders, using the medical technology company’s device. Editorial photo for a financial news article. 8k. –ar 16:9
Penumbra, Inc. (NYSE:PEN) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 32 hedge fund portfolios held Penumbra, Inc. (NYSE:PEN) at the end of second quarter which was 19 in the previous quarter.
We discussed Penumbra, Inc. (NYSE:PEN) in another article and shared Artisan Small Cap Fund’s views on the company in the previous quarter. In addition, please check out our hedge fund investor letters Q3 2023 page for more investor letters from hedge funds and other leading investors.
Suggested Articles:
- Billionaire Ray Dalio’s 15 Best Stock Picks
- Hedge Fund Manager Louis Bacon’s Top 12 Stock Picks
- 12 Best Performing NASDAQ Stocks in 2023
Disclosure: None. This article is originally published at Insider Monkey.
