Jim Cramer Stock Portfolio: 5 Recent Additions

3. DexCom, Inc. (NASDAQ:DXCM)

Number of Hedge Fund Holders: 49    

DexCom, Inc. (NASDAQ:DXCM) is a California-based healthcare equipment firm. The stock recently touched a 52-week high after the firm posted market-beating earnings for the third quarter, smashing analyst expectations on earnings per share and revenue by $0.24 and $33 million respectively. Piper Sandler, Jefferies, Oppenheimer, and Canaccord have raised their price targets on the stock recently to reflect the positive outlook on the firm.

Cramer recommended DexCom, Inc. (NASDAQ:DXCM) as a Buy during the lightning round of his show. In the round, Cramer usually fields questions from callers and gives his verdict on a stock quickly before moving to the next call. 

At the end of the second quarter of 2021, 49 hedge funds in the database of Insider Monkey held stakes worth $1.63 billion in DexCom, Inc. (NASDAQ:DXCM), down from 56 in the previous quarter worth $1.67 billion.

In its Q4 2020 investor letter, Carillon Tower Advisers, an asset management firm, highlighted a few stocks and DexCom, Inc. (NASDAQ:DXCM) was one of them. Here is what the fund said:

“DexCom, a developer and manufacturer of continuous glucose monitors (CGMs) for people with diabetes, saw its share price suffer in the quarter after an announcement from its largest competitor that it had finally developed a CGM that appears to be competitive with Dexcom’s flagship G6 sensor. Until the competitive dynamics are sorted out, we feel as though the firm’s shares could remain range-bound, leading us to exit the position.”