5 Best Weight Loss Stocks to Buy Now

3. DexCom, Inc. (NASDAQ: DXCM)

Number of Hedge Fund Holders: 56 

DexCom, Inc. (NASDAQ: DXCM) is a medical device company that develops continuous glucose monitor (CGM) systems in the US and internationally. The company’s CGMs can be used for glucose monitoring for diabetics, which can also help users monitor weight loss and gain goals. The company ranks 3rd on our list of the best weight loss stocks to buy now.

On June 14th, Piper Sandler retained DexCom, Inc. (NASDAQ: DXCM) as a top pick alongside its Overweight rating and $500 price target on the stock. This May, Wells Fargo upgraded the stock to Equal Weight with a $380 price target. In the first quarter of 2021, DexCom, Inc. (NASDAQ: DXCM) had an EPS of $0.33, beating estimates by $0.04, while its $505 million revenue represented a 24.66% increase year over year and beat estimates by $20.19 million. DexCom, Inc. (NASDAQ: DXCM) has a gross profit margin of 67.48% and has gained 18.36% in the past 6 months and 19.87% year to date.

By the end of the first quarter of 2021, 56 hedge funds out of the 866 tracked by Insider Monkey held stakes in DexCom, Inc. (NASDAQ: DXCM). The total value of their stakes was roughly $1.67 billion. This is compared to 52 hedge funds in the previous quarter, with a total stake value of about $1.66 billion.

Carillon Tower Advisers, an investment management firm, mentioned DexCom, Inc. (NASDAQ: DXCM) in their fourth-quarter 2020 investor letter. Here‘s what they said:

“DexCom, a developer and manufacturer of continuous glucose monitors (CGMs) for people with diabetes, saw its share price suffer in the quarter after an announcement from its largest competitor that it had finally developed a CGM that appears to be competitive with Dexcom’s flagship G6 sensor. Until the competitive dynamics are sorted out, we feel as though the firm’s shares could remain range-bound, leading us to exit the position.”