5 Stocks That Rebounded This Week

3. DexCom, Inc. (NASDAQ:DXCM)

Number of Hedge Fund Holders: 56

DexCom, Inc. (NASDAQ:DXCM) is next on the list of 5 stocks that rebounded this week. The company’s shares rallied over 25 percent this week. The surge was primarily driven by the launch of DexCom’s continuous glucose monitor (CGM).

Earlier this week, DexCom, Inc. (NASDAQ:DXCM) rolled out the Dexcom G7 CGM in several European countries, including the U.K. and Germany. The company intends to launch the device in additional countries in the coming weeks.

Meanwhile, asset management firm Baron Funds also shared its views about DexCom, Inc. (NASDAQ:DXCM) in its second-quarter 2022 investor letter, stating:

“DexCom, Inc. is the leading provider of continuous glucose monitoring systems for patients with diabetes. The stock fell along with other premium valuation growth stocks, primarily on multiple contraction. Concern about price competition from Abbott Labs’ Libre product also played a role. Results for the first quarter were solid. Sales increased 22% organically, margins expanded 350 basis points, and the company maintained guidance for continued strong results.

An important new and revolutionary product, the G7, was approved and launched in Europe, and the company expects it to be approved in the U.S. soon. The product is 60% smaller, fully disposable, and designed for extended wear. We remain excited that CGM will become the standard of care for Type 1 diabetics and will be used extensively for Type 2 diabetics as well, which we think will be a major driver of continued sales and profit growth well into the future.”