Cinctive Capital Management LP Takes $4.45 Million Position in DexCom, Inc. $DXCM

Cinctive Capital Management LP purchased a new stake in shares of DexCom, Inc. (NASDAQ:DXCM) during the 3rd quarter, according to its most recent disclosure with the SEC. The fund purchased 66,148 shares of the medical device company’s stock, valued at approximately $4,451,000.

A number of other institutional investors have also added to or reduced their stakes in the stock. Twin Peaks Wealth Advisors LLC bought a new position in DexCom in the 2nd quarter valued at approximately $26,000. SJS Investment Consulting Inc. boosted its position in DexCom by 4,800.0% in the third quarter. SJS Investment Consulting Inc. now owns 392 shares of the medical device company’s stock valued at $26,000 after buying an additional 384 shares in the last quarter. Financial Consulate Inc. bought a new stake in shares of DexCom during the third quarter worth $29,000. Sound Income Strategies LLC increased its holdings in shares of DexCom by 83.8% during the third quarter. Sound Income Strategies LLC now owns 625 shares of the medical device company’s stock worth $43,000 after buying an additional 285 shares in the last quarter. Finally, Rothschild Investment LLC increased its holdings in shares of DexCom by 59.9% during the third quarter. Rothschild Investment LLC now owns 654 shares of the medical device company’s stock worth $44,000 after buying an additional 245 shares in the last quarter. 97.75% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have recently commented on DXCM. BTIG Research reiterated a “buy” rating and issued a $85.00 price target on shares of DexCom in a research note on Monday, March 9th. Truist Financial reaffirmed a “buy” rating and issued a $80.00 target price (down from $82.00) on shares of DexCom in a report on Tuesday, February 17th. Canaccord Genuity Group set a $95.00 target price on DexCom and gave the company a “buy” rating in a research report on Friday, February 13th. Weiss Ratings raised DexCom from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Wednesday, March 4th. Finally, Citigroup boosted their price target on DexCom from $77.00 to $84.00 and gave the stock a “buy” rating in a report on Wednesday, March 11th. Two analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating, five have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, DexCom presently has a consensus rating of “Moderate Buy” and a consensus price target of $85.50.

DexCom Stock Performance

Shares of DexCom stock opened at $64.24 on Monday. The stock has a market cap of $24.72 billion, a price-to-earnings ratio of 30.59, a P/E/G ratio of 1.25 and a beta of 1.48. The company has a quick ratio of 1.59, a current ratio of 1.88 and a debt-to-equity ratio of 0.45. DexCom, Inc. has a twelve month low of $54.11 and a twelve month high of $89.98. The company’s fifty day moving average is $70.66 and its 200 day moving average is $68.34.

DexCom (NASDAQ:DXCM) last announced its earnings results on Thursday, February 12th. The medical device company reported $0.68 EPS for the quarter, topping 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 firm had revenue of $1.26 billion for the quarter, compared to the consensus estimate of $1.25 billion. During the same period in the previous year, the business earned $0.45 EPS. The business’s quarterly revenue was up 13.1% compared to the same quarter last year. Sell-side analysts forecast that DexCom, Inc. will post 2.03 EPS for the current year.

About DexCom

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.