5 High Growth Non-Tech Stocks That Are Profitable

1. DexCom, Inc. (NASDAQ:DXCM)

Number of Hedge Fund Investors: 78

Healthcare company DexCom, Inc. (NASDAQ:DXCM) in October posted Q3 results. Adjusted EPS in the period came in at $0.50, beating estimates by $0.17.  Revenue in the quarter jumped about 26.7% year over year to $975 million, surpassing estimates by $37.38 million.

In its fourth quarter 2023 investor letter, ClearBridge Large Cap Growth Strategy stated the following regarding DexCom, Inc. (NASDAQ:DXCM):

“Evolving our fundamental research and portfolio monitoring process to promote better ongoing collaboration with ClearBridge’s Sector Analyst Team has enabled us to identify opportunities and risks more efficiently and take decisive actions in a timely manner. We exited our position in DexCom, Inc. (NASDAQ:DXCM), for example, during the quarter by looking past the broadly negative noise about GLP-1 impacts on medical devices and understanding that our assumptions about DexCom’s long-term growth rate, particularly in the Type-2 diabetes market, now seem more aggressive than we had previously thought.”

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