Bamco Inc. NY Reduces Stock Position in DexCom, Inc. $DXCM

Bamco Inc. NY decreased its holdings in DexCom, Inc. (NASDAQ:DXCM) by 18.0% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 272,500 shares of the medical device company’s stock after selling 60,000 shares during the period. Bamco Inc. NY owned about 0.07% of DexCom worth $18,337,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in DXCM. Banco Bilbao Vizcaya Argentaria S.A. lifted its holdings in DexCom by 71.7% during the 3rd quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 15,050 shares of the medical device company’s stock valued at $1,011,000 after buying an additional 6,287 shares in the last quarter. California Public Employees Retirement System grew its stake in DexCom by 34.1% in the 3rd quarter. California Public Employees Retirement System now owns 663,053 shares of the medical device company’s stock worth $44,617,000 after acquiring an additional 168,639 shares in the last quarter. Boothbay Fund Management LLC purchased a new position in shares of DexCom during the third quarter worth approximately $216,000. Aristotle Atlantic Partners LLC purchased a new position in shares of DexCom during the third quarter worth approximately $13,006,000. Finally, Algert Global LLC bought a new stake in shares of DexCom during the third quarter valued at approximately $344,000. 97.75% of the stock is currently owned by institutional investors.

DexCom Stock Performance

Shares of NASDAQ:DXCM opened at $64.24 on Monday. The firm has a 50 day moving average of $70.66 and a 200 day moving average of $68.34. The company has a quick ratio of 1.59, a current ratio of 1.88 and a debt-to-equity ratio of 0.45. The company has a market capitalization of $24.72 billion, a price-to-earnings ratio of 30.59, a price-to-earnings-growth ratio of 1.25 and a beta of 1.48. DexCom, Inc. has a 52 week low of $54.11 and a 52 week high of $89.98.

DexCom (NASDAQ:DXCM) last announced its earnings results on Thursday, February 12th. The medical device company reported $0.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.65 by $0.03. DexCom had a return on equity of 32.12% and a net margin of 17.94%.The business had revenue of $1.26 billion for the quarter, compared to analysts’ expectations of $1.25 billion. During the same quarter last year, the firm earned $0.45 EPS. The business’s revenue for the quarter was up 13.1% on a year-over-year basis. On average, sell-side analysts predict that DexCom, Inc. will post 2.03 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

DXCM has been the subject of a number of research reports. Citigroup boosted their price target on DexCom from $77.00 to $84.00 and gave the company a “buy” rating in a report on Wednesday, March 11th. Piper Sandler reaffirmed an “overweight” rating on shares of DexCom in a research report on Thursday, February 5th. Wall Street Zen cut DexCom from a “strong-buy” rating to a “buy” rating in a report on Sunday, November 16th. Evercore initiated coverage on DexCom in a research report on Tuesday, November 25th. They set an “in-line” rating and a $68.00 price target on the stock. Finally, Leerink Partners restated an “outperform” rating and set a $92.00 price target on shares of DexCom in a research note on Tuesday, December 16th. Two research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $85.50.

DexCom Company Profile

DexCom, Inc is a medical device company that develops, manufactures and distributes continuous glucose monitoring (CGM) systems for people with diabetes. Its products are designed to provide near real-time glucose readings, trend information and alerts to help patients and clinicians manage insulin dosing and reduce hypoglycemia and hyperglycemia. The company’s offerings combine wearable glucose sensors, wireless transmitters and software applications that deliver data to smartphones, dedicated receivers and cloud-based platforms for remote monitoring.

Founded in 1999 and headquartered in San Diego, California, DexCom has focused its business on advancing CGM technology and expanding clinical use beyond traditional insulin-dependent populations.