Should You Hold DexCom (DXCM)?

TimesSquare Capital Management, an equity investment management company, released its “U.S. Mid Cap Growth Strategy” fourth-quarter investor letter. A copy of the same can be downloaded here. In the fourth quarter, the strategy underperformed the Russell Midcap Growth Index and returned 13.66% (gross) and 13.44% (net) while the index return was -14.55%. In addition, please check the fund’s top five holdings to know its best picks in 2023.

TimesSquare Capital U.S. Mid Cap Growth Strategy featured stocks like 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 March 28, 2024, DexCom, Inc. (NASDAQ:DXCM) stock closed at $138.70 per share. One-month return of DexCom, Inc. (NASDAQ:DXCM) was 20.54%, and its shares gained 21.24% of their value over the last 52 weeks. DexCom, Inc. (NASDAQ:DXCM) has a market capitalization of $53.471 billion.

TimesSquare Capital U.S. Mid Cap Growth Strategy stated the following regarding DexCom, Inc. (NASDAQ:DXCM) in its fourth quarter 2023 investor letter:

“Our preference within Health Care is for novel therapies to address unmet medical needs, specialized providers, and innovators. DexCom, Inc. (NASDAQ:DXCM) is a producer of glucose monitoring systems for people with diabetes. Third quarter revenues surpassed Street estimates and that lifted the stock by 33%. The company continues to see increased growth and insurance coverage across wider populations and is also benefiting from the ongoing G7 product launch.”

A pharmacy worker placing wireless handheld personal diabetes managers against the light.

DexCom, Inc. (NASDAQ:DXCM) is not on our list of 30 Most Popular Stocks Among Hedge Funds. At the end of the fourth quarter, DexCom, Inc. (NASDAQ:DXCM) was held by 69 hedge fund portfolios, compared to 78 in the previous quarter, according to our database.

We discussed DexCom, Inc. (NASDAQ:DXCM) in another article and shared the list of healthcare stocks insiders are dumping. 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.