Medtronic plc (MDT) Declined on Lowered Management Guidance
Carillon Tower Advisers, an investment management company, released its “Carillon Eagle Growth & Income Fund” fourth quarter 2022 investor letter. A copy of the same can be downloaded here. Following three difficult quarters, the market, as defined by the S&P 500 Index, rebounded well in the fourth quarter, rising 7.6%. For the full year, the market returned -18.1%. The fund delivered positive returns in the quarter. In addition, you can check the top 5 holdings of the fund to know its best picks in 2022.
Carillon Eagle Growth & Income Fund highlighted stocks like Medtronic plc (NYSE:MDT) in the Q4 2022 investor letter. Headquartered in Dublin, Ireland, Medtronic plc (NYSE:MDT) develops and manufactures device-based medical therapies. On March 7, 2023, Medtronic plc (NYSE:MDT) stock closed at $79.74 per share. One-month return of Medtronic plc (NYSE:MDT) was -7.45%, and its shares lost 23.02% of their value over the last 52 weeks. Medtronic plc (NYSE:MDT) has a market capitalization of $106.088 billion.
Carillon Eagle Growth & Income Fund made the following comment about Medtronic plc (NYSE:MDT) in its Q4 2022 investor letter:
"Medtronic plc (NYSE:MDT) announced disappointing clinical trial results for a new product in its pipeline and lowered its fiscal 2023 financial guidance due to lingering supply chain issues and slower than expected medical procedure recovery."
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Medtronic plc (NYSE:MDT) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 58 hedge fund portfolios held Medtronic plc (NYSE:MDT) at the end of the fourth quarter which was 55 in the previous quarter.
We discussed Medtronic plc (NYSE:MDT) in another article and shared Artisan Value Fund's views on the company. In addition, please check out our hedge fund investor letters Q4 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.
