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Is DexCom, Inc. (DXCM) A Good Stock To Buy?

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Insider Monkey finished processing more than 700 13F filings made by hedge funds and prominent investors. These filings show these funds’ portfolio positions as of September 30. In this article we are going to take a look at smart money sentiment towards DexCom, Inc. (NASDAQ:DXCM).

DexCom, Inc. (NASDAQ:DXCM) shareholders have witnessed an increase in hedge fund sentiment recently. DXCM was in 26 hedge funds’ portfolios at the end of the third quarter of 2016. There were 25 hedge funds in our database with DXCM positions at the end of the previous quarter. At the end of this article we will also compare DXCM to other stocks including New Oriental Education & Tech Grp (ADR) (NYSE:EDU), Hyatt Hotels Corporation (NYSE:H), and FactSet Research Systems Inc. (NYSE:FDS) to get a better sense of its popularity.

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At Insider Monkey, we’ve developed an investment strategy that has delivered market-beating returns over the past 12 months. Our strategy identifies the 100 best-performing funds of the previous quarter from among the collection of 700+ successful funds that we track in our database, which we accomplish using our returns methodology. We then study the portfolios of those 100 funds using the latest 13F data to uncover the 30 most popular mid-cap stocks (market caps of between $1 billion and $10 billion) among them to hold until the next filing period. This strategy delivered 18% gains over the past 12 months, more than doubling the 8% returns enjoyed by the S&P 500 ETFs.

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What does the smart money think about DexCom, Inc. (NASDAQ:DXCM)?

At the end of the third quarter, a total of 26 of the hedge funds tracked by Insider Monkey were bullish on this stock, a rise of 4% from the second quarter of 2016, though hedge fund ownership remains well beneath its level of 9 months earlier. With hedgies’ sentiment swirling, there exists a select group of key hedge fund managers who were upping their holdings significantly (or already accumulated large positions).

HedgeFundSentimentChart

Of the funds tracked by Insider Monkey, Columbus Circle Investors, managed by Principal Global Investors, holds the number one position in DexCom, Inc. (NASDAQ:DXCM). Columbus Circle Investors has a $124.5 million position in the stock, comprising 1.3% of its 13F portfolio. On Columbus Circle Investors’ heels is Bridger Management, managed by Roberto Mignone, which holds a $47.2 million position; 3.2% of its 13F portfolio is allocated to the company. Some other professional money managers with similar optimism comprise Jerome Pfund and Michael Sjostrom’s Sectoral Asset Management, Steve Cohen’s Point72 Asset Management, and Joseph Edelman’s Perceptive Advisors.

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