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# The Round Trip: ResMed and DexCom Cross Back Into Tier 2
- URL: https://www.altamiraequity.com/scorecard-tier-roundtrip-2026-11-12/
- Published: 2026-11-13T18:13:38.000Z
- Updated: 2026-11-13T18:13:38.000Z
- Description: One day after falling out of Tier 2, ResMed (69.5 to 71.8, QC a perfect 13 of 13) and DexCom (69.9 to 70.2, gate dissenting at 8 of 13, no margin of safety) are back in it, Williams-Sonoma joins them, Tier 2 widens 22 to 25 — and Arista climbs to 77.0, first overall, still below its $230 fair value.
- Author: Altamira Capital
- Tags: Research, #qc-review

One day after falling out of Tier 2, ResMed and DexCom are back in it. The 12 November edition of the scorecard (prices of 11 November) lifts Tier 2 from 22 names to 25, and the two returnees tell opposite stories about what the tier line actually measures — one name the quality gate fully endorses, and one it pointedly does not.

## The returnees

![The three names that crossed into Tier 2 in the 12 November edition, total score before and after: ResMed 69.5 to 71.8, DexCom 69.9 to 70.2, Williams-Sonoma 69.8 to 70.0](https://www.altamiraequity.com/content/images/2026/11/scorecard-tier-roundtrip-2026-11-12-crossings.png)

The three names that crossed into Tier 2 in the 12 November edition, total score before and after: ResMed 69.5 to 71.8, DexCom 69.9 to 70.2, Williams-Sonoma 69.8 to 70.0\. Source: External 516 KPI Scorecard dataset.

**ResMed (RMD)** rose 69.5 to 71.8, the cleanest crossing of the day. Its fundamental composite is 77.9, and the QC gate is a perfect 13 of 13 — QUALIFIED, the same verdict it held on the way down. Yesterday's exit, in other words, was the technical half slipping, not the business deteriorating; today's recovery is the tape agreeing with the gate again. No external fair value is published for ResMed in this edition, so the note makes no margin-of-safety claim for it — the crossing stands on the score and the gate alone.

**DexCom (DXCM)** edged 69.9 to 70.2 in a PULLBACK state. The score says Tier 2; the QC gate says NOT QUALIFIED at 8 of 13\. Its external fair value is $79 against a price of $80.34 — a margin of safety of roughly −2%, which is to say none. DexCom is the mirror image of ResMed: a name the composite admits and the gate refuses to confirm, priced at no discount to fair value. Both facts belong in the same sentence, which is exactly why the site publishes the gate next to the score.

**Williams-Sonoma (WSM)** is the genuinely new entrant, 69.8 to 70.0 on the back of a technical score of 87.4 in an UPTREND state — and it, too, arrives with the gate dissenting (NOT QUALIFIED, 11 of 13) and a fundamental composite of just 62.5 doing none of the lifting. Three crossings, three different machines driving them.

## The top of the board moved too

Arista Networks (ANET) climbed 73.4 to 77.0 and now sits first overall in the 515-name universe — fundamental composite 72.9, technical score 86.4, QC QUALIFIED at 11 of 13\. Its external fair value is $230 against a price of $196.68, a margin of safety of about +14.5%: the rare configuration where the highest-ranked name in the universe is also priced below fair value rather than above it. TSMC, yesterday's crossing story, consolidated at 72.5 (from 70.4) with its own 13-of-13 QUALIFIED gate intact and the same $534 fair value against a $413.35 price.

Breadth was mildly positive — 252 names rose, 220 fell — and the QC QUALIFIED count held at 13\. Tier 3 was unchanged at 106 names: AMD's 57.9-to-62.1 jump led six names up from Tier 4, while Host Hotels, Johnson & Johnson and Honeywell slipped the other way.

## What it means

![The QC gate beside the tier: ResMed passes 13 of 13, Arista and Williams-Sonoma 11 of 13, DexCom 8 of 13, which is why a crossing starts the questions rather than settling them](https://www.altamiraequity.com/content/images/2026/11/scorecard-tier-roundtrip-2026-11-12-gate.png)

The QC gate beside the tier: ResMed passes 13 of 13, Arista and Williams-Sonoma 11 of 13, DexCom 8 of 13, which is why a crossing starts the questions rather than settling them. Source: External 516 KPI Scorecard dataset.

A tier line crossed twice in two days is not a signal by itself; it is the scorecard showing its seams. ResMed's round trip says the fundamental story never changed. DexCom's says a total can clear 70 while the gate and the price both argue for patience. The discipline the scorecard is built for is reading the three columns together — score, gate, and margin of safety — and letting a crossing start the questions rather than settle them.

*Sources: External 516 KPI Scorecard, edition of 12 November 2026 (prices of 11 November), full 515-name dataset — totals, tiers, trend states, pillar composites, QC gate verdicts and external fair values as published there. Research for information only, not investment advice.*