Edgestream Partners L.P. Increases Position in DexCom, Inc. $DXCM

Edgestream Partners L.P. lifted its stake in shares of DexCom, Inc. (NASDAQ:DXCM) by 320.2% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 47,727 shares of the medical device company’s stock after purchasing an additional 36,369 shares during the period. Edgestream Partners L.P.’s holdings in DexCom were worth $4,166,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in DXCM. Nuveen LLC acquired a new position in DexCom during the first quarter worth $554,893,000. Norges Bank purchased a new position in shares of DexCom during the 2nd quarter worth $453,279,000. Groupama Asset Managment boosted its position in shares of DexCom by 79,043.1% during the 2nd quarter. Groupama Asset Managment now owns 4,016,513 shares of the medical device company’s stock valued at $350,601,000 after acquiring an additional 4,011,438 shares during the last quarter. Massachusetts Financial Services Co. MA grew its holdings in shares of DexCom by 106.8% in the second quarter. Massachusetts Financial Services Co. MA now owns 6,605,687 shares of the medical device company’s stock valued at $576,610,000 after purchasing an additional 3,410,858 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of DexCom by 22.6% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 10,123,525 shares of the medical device company’s stock valued at $691,336,000 after purchasing an additional 1,868,241 shares during the period. Institutional investors and hedge funds own 97.75% of the company’s stock.

DexCom Price Performance

DXCM opened at $64.85 on Thursday. The stock’s 50-day moving average price is $64.06 and its 200 day moving average price is $75.38. DexCom, Inc. has a 12-month low of $54.11 and a 12-month high of $93.25. The firm has a market cap of $25.29 billion, a price-to-earnings ratio of 36.03, a PEG ratio of 1.36 and a beta of 1.51. The company has a current ratio of 1.56, a quick ratio of 1.38 and a debt-to-equity ratio of 0.45.

DexCom (NASDAQ:DXCM) last released its earnings results on Thursday, October 30th. The medical device company reported $0.61 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.04. The company had revenue of $1.21 billion during the quarter, compared to the consensus estimate of $1.18 billion. DexCom had a return on equity of 30.65% and a net margin of 15.96%.DexCom’s revenue was up 21.6% compared to the same quarter last year. During the same period in the previous year, the company posted $0.45 EPS. As a group, sell-side analysts expect that DexCom, Inc. will post 2.03 earnings per share for the current year.

Insider Buying and Selling at DexCom

In other DexCom news, Director Richard Alexander Collins sold 2,906 shares of the stock in a transaction that occurred on Friday, November 14th. The shares were sold at an average price of $59.05, for a total transaction of $171,599.30. Following the sale, the director directly owned 35,088 shares in the company, valued at $2,071,946.40. This represents a 7.65% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, COO Jacob Steven Leach purchased 18,200 shares of the firm’s stock in a transaction on Monday, November 10th. The stock was acquired at an average cost of $55.04 per share, with a total value of $1,001,728.00. Following the transaction, the chief operating officer directly owned 331,697 shares in the company, valued at $18,256,602.88. This trade represents a 5.81% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders sold 8,533 shares of company stock valued at $502,111 in the last 90 days. Corporate insiders own 0.32% of the company’s stock.

Analyst Ratings Changes

Several research firms have weighed in on DXCM. TD Cowen decreased their target price on shares of DexCom from $100.00 to $84.00 and set a “buy” rating on the stock in a report on Friday, October 31st. Truist Financial reaffirmed a “buy” rating and set a $82.00 price target (down previously from $94.00) on shares of DexCom in a research report on Monday, November 3rd. Wells Fargo & Company set a $93.00 price objective on DexCom and gave the stock an “overweight” rating in a research report on Friday, October 31st. Morgan Stanley upgraded DexCom from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $63.00 to $75.00 in a research report on Tuesday. Finally, Royal Bank Of Canada lowered their price target on DexCom from $100.00 to $85.00 and set an “outperform” rating for the company in a report on Friday, October 31st. Three equities research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, DexCom has a consensus rating of “Moderate Buy” and an average target price of $87.27.

DexCom Profile

DexCom, Inc, a medical device company, focuses on the design, development, and commercialization of continuous glucose monitoring (CGM) systems in the United States and internationally. The company provides its systems for use by people with diabetes, as well as for use by healthcare providers. Its products include Dexcom G6 and Dexcom G7, integrated CGM systems for diabetes management; Dexcom Share, a remote monitoring system; Dexcom Real-Time API, which enables authorized third-party software developers to integrate real-time CGM data into their digital health apps and devices; and Dexcom ONE, that is designed to replace finger stick blood glucose testing for diabetes treatment decisions.