ClearBridge Investments, an investment management company, released its “ClearBridge Large Cap Growth Strategy” fourth quarter 2022 investor letter. A copy of the same can be downloaded here. In the fourth quarter, the strategy outperformed its benchmark, the Russell 1000 Growth Index. The strategy gained in seven out of nine sectors it invested in the quarter on an absolute basis. Healthcare and industrials sectors were the primary contributors while the consumer discretionary sector detracted from the performance. Overall stock selection and sector allocation contributed to the strategy’s performance on a relative basis. In addition, please check the fund’s top five holdings to know its best picks in 2022.
ClearBridge Large Cap Growth Strategy highlighted stocks like DexCom, Inc. (NASDAQ:DXCM) in the Q4 2022 investor letter. Headquartered in San Diego, California, DexCom, Inc. (NASDAQ:DXCM) is a medical device company. On March 6, 2023, DexCom, Inc. (NASDAQ:DXCM) stock closed at $113.25 per share. One-month return of DexCom, Inc. (NASDAQ:DXCM) was 6.11%, and its shares gained 7.65% of their value over the last 52 weeks. DexCom, Inc. (NASDAQ:DXCM) has a market capitalization of $43.761 billion.
ClearBridge Large Cap Growth Strategy made the following comment about DexCom, Inc. (NASDAQ:DXCM) in its Q4 2022 investor letter:
“A second way to generate alpha is through ownership of high-quality secular growth companies with countercyclical characteristics. These include several of the health care positions we have added in the last 18 months that were impacted by FX and supply chain headwinds earlier in the year but are now benefiting from the return of elective medical procedures. DexCom, Inc. (NASDAQ:DXCM), a leading developer of continuous glucose monitoring systems for diabetes care, has also seen its shares rerate as new patient additions accelerated in the second half of the year.”
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DexCom, Inc. (NASDAQ:DXCM) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 70 hedge fund portfolios held DexCom, Inc. (NASDAQ:DXCM) at the end of the fourth quarter, which was 62 in the previous quarter.
We discussed DexCom, Inc. (NASDAQ:DXCM) in another article and shared Baron Small Cap Fund’s views on the company. In addition, please check out our hedge fund investor letters Q4 2022 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.
