Carillon Tower Advisers, an investment management company, released its “Carillon Eagle Small Cap Growth Fund” second quarter 2024 investor letter. A copy of the letter can be downloaded here. Small-cap stocks were unable to sustain the positive gains made in the first quarter and finished the second quarter in negative territory. Among the style indexes, the Russell 2000® Growth Index outperformed the Russell 2000® Value Index by a modest margin, with a decrease of 2.92% compared to a decrease of 3.75%. In addition, please check the fund’s top five holdings to know its best picks in 2024.
Carillon Eagle Small Cap Growth Fund highlighted stocks like TransMedics Group, Inc. (NASDAQ:TMDX) in the Q2 2024 investor letter. TransMedics Group, Inc. (NASDAQ:TMDX) is a commercial-stage medical technology company. The one-month return of TransMedics Group, Inc. (NASDAQ:TMDX) was 11.54%, and its shares gained 157.50% of their value over the last 52 weeks. On August 28, 2024, TransMedics Group, Inc. (NASDAQ:TMDX) stock closed at $169.00 per share with a market capitalization of $5.63 billion.
Carillon Eagle Small Cap Growth Fund stated the following regarding TransMedics Group, Inc. (NASDAQ:TMDX) in its Q2 2024 investor letter:
“TransMedics Group, Inc. (NASDAQ:TMDX) has rapidly established itself as a leader in organ procurement and logistics for donor organ transplants. Through its innovative organ care system and custom-designed jet fleet for organ transport, TransMedics helps to increase the supply of donor organs, improve their viability, and reduce post-operative complications through its proprietary perfusion technology while increasing the financial benefit for hospitals as the related procedures can be very lucrative. The end markets are large as a notable mismatch exists between demand for donor organs and the available supply.”
A surgeon in a modern operating theatre performing a transplant surgery with medical technology.
TransMedics Group, Inc. (NASDAQ:TMDX) is not on our list of 31 Most Popular Stocks Among Hedge Funds. As per our database, 29 hedge fund portfolios held TransMedics Group, Inc. (NASDAQ:TMDX) at the end of the second quarter which was 21 in the previous quarter. TransMedics Group, Inc.’s (NASDAQ:TMDX) total revenue in the second quarter of 2024 was $114.3 million, up 11.8% from Q1 2024 and 118% from Q2 2023. While we acknowledge the potential of TransMedics Group, Inc. (NASDAQ:TMDX) as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns, and doing so within a shorter timeframe. If you are looking for an AI stock that is as promising as NVIDIA but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.
In another article, we discussed TransMedics Group, Inc. (NASDAQ:TMDX) and shared the list of best organ transplant and diagnosis stocks to buy. TransMedics Group, Inc. (NASDAQ:TMDX) significantly contributed to the performance of Headwaters Capital Management in Q2 2024. In addition, please check out our hedge fund investor letters Q2 2024 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.
