5 Internet of Things (IoT) Stocks Billionaires Are Loading Up On

2. DexCom, Inc. (NASDAQ:DXCM)

Number of Billionaire Investors: 11

DexCom, Inc. (NASDAQ:DXCM) is a healthcare device manufacturer headquartered in San Diego, California. It is targeting the medical industry with its IoT devices that primarily serve the needs of diabetics by enabling continuous glucose monitoring and enabling patients to connect their devices with a smartphone or a smartwatch to ensure no untoward event.

As of Q1 2023, 66 of the 943 hedge funds part of Insider Monkey’s database had bought the firm’s shares. DexCom, Inc. (NASDAQ:DXCM)’s largest hedge fund investor is Ken Griffin’s Citadel Investment Group with a $469 million stake.

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