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Here’s Why Carillon Tower Advisers Sold DexCom Inc. (DXCM)

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Carillon Tower Advisers, an investment management firm, published its fourth quarter 2020 “Carillon Eagle Mid Cap Growth Fund” investor letter – a copy of which can be downloaded here. In the letter, the fund talked about their best and worst securities, together with their outlook for this year from an investment perspective. You can view the fund’s top 5 holdings to have a peek at their top bets for 2021.

Carillon Tower Advisers, in their Q4 2020 investor letter, mentioned DexCom, Inc. (NASDAQ: DXCM) and emphasized their views on the company. DexCom, Inc. is a San Diego, California-based continuous glucose monitoring company that currently has a $34.2 billion market capitalization. Since the beginning of the year, DXCM delivered a -3.78% return, but its 12-month gains are still up by 48.64%. As of March 24, 2021, the stock closed at $355.73 per share.

Here is what Carillon Tower Advisers has to say about DexCom, Inc. in their Q4 2020 investor letter:

"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."

Pixabay/Public Domain

Our calculations show that DexCom, Inc. (NASDAQ: DXCM) does not belong in our list of the 30 Most Popular Stocks Among Hedge Funds. As of the end of the fourth quarter of 2020, DexCom, Inc. was in 52 hedge fund portfolios, compared to 58 funds in the third quarter. DXCM delivered a -0.07% return in the past 3 months.

The top 10 stocks among hedge funds returned 231.2% between 2015 and 2020, and outperformed the S&P 500 Index ETFs by more than 126 percentage points. We know it sounds unbelievable. You have been dismissing our articles about top hedge fund stocks mostly because you were fed biased information by other media outlets about hedge funds’ poor performance. You could have doubled the size of your nest egg by investing in the top hedge fund stocks instead of dumb S&P 500 ETFs. Here you can watch our video about the top 5 hedge fund stocks right now. All of these stocks had positive returns in 2020.

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Disclosure: None. This article is originally published at Insider Monkey.