Aristotle Atlantic Partners, LLC, an investment advisor, released its “Focus Growth Strategy” fourth quarter 2023 investor letter. A copy of the same can be downloaded here. The market rebounded in the fourth quarter as the S&P 500 Index rose 11.69%. Aristotle Atlantic’s Focus Growth strategy returned 15.02% gross of fees (14.99% net of fees), in the quarter outperforming the Russell 1000 Growth Index’s 14.16% total return. The relative outperformance was due to both allocation effects and security selection. In addition, you can check the top 5 holdings of the fund to know its best picks in 2023.
Aristotle Atlantic Focus Growth Strategy featured stocks such as DexCom, Inc. (NASDAQ:DXCM) in its Q4 2023 investor letter. Headquartered in San Diego, California, DexCom, Inc. (NASDAQ:DXCM) is a medical device company. On February 12, 2024, DexCom, Inc. (NASDAQ:DXCM) stock closed at $118.42 per share. One-month return of DexCom, Inc. (NASDAQ:DXCM) was -4.85%, and its shares lost 0.11% of their value over the last 52 weeks. DexCom, Inc. (NASDAQ:DXCM) has a market capitalization of $45.653 billion.
Aristotle Atlantic Focus Growth Strategy stated the following regarding DexCom, Inc. (NASDAQ:DXCM) in its fourth quarter 2023 investor letter:
“DexCom, Inc. (NASDAQ:DXCM) contributed to portfolio performance during the quarter, following a better-than-expected earnings report and an increase in full-year guidance. The company is benefiting from a new product introduction with the G-7 series and new Medicare reimbursement for basal insulin users. Additionally, Dexcom has been under pressure most of 2023 on the success of GLP-1 companies and the fear that these novel weight loss therapies could hurt the prospects for companies operating in obesity-related comorbidities such as Diabetes. The shares had a broad reversal of this trend in the fourth quarter and many of the affected names rebounded, including Dexcom.”
A doctor demonstrating how to use the medical device to a patient with diabetes.
DexCom, Inc. (NASDAQ:DXCM) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 78 hedge fund portfolios held DexCom, Inc. (NASDAQ:DXCM) at the end of third quarter which was 58 in the previous quarter.
We discussed DexCom, Inc. (NASDAQ:DXCM) in another article and shared Carillon Eagle Mid Cap Growth Fund’s views on the company. In addition, please check out our hedge fund investor letters Q4 2023 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.
