Arrowstreet Capital Limited Partnership Boosts Holdings in DexCom, Inc. $DXCM

Arrowstreet Capital Limited Partnership lifted its position in shares of DexCom, Inc. (NASDAQ:DXCM) by 100.4% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,545,103 shares of the medical device company’s stock after buying an additional 1,275,142 shares during the period. Arrowstreet Capital Limited Partnership owned approximately 0.66% of DexCom worth $159,832,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Reflection Asset Management purchased a new position in shares of DexCom during the 4th quarter worth approximately $25,000. Ascentis Independent Advisors acquired a new position in DexCom during the first quarter worth $25,000. CVA Family Office LLC boosted its position in shares of DexCom by 48.5% during the fourth quarter. CVA Family Office LLC now owns 450 shares of the medical device company’s stock worth $30,000 after buying an additional 147 shares during the period. MCF Advisors LLC acquired a new stake in shares of DexCom in the fourth quarter valued at $32,000. Finally, ORG Partners LLC grew its stake in shares of DexCom by 124.3% in the fourth quarter. ORG Partners LLC now owns 507 shares of the medical device company’s stock valued at $34,000 after buying an additional 281 shares in the last quarter. Institutional investors and hedge funds own 97.75% of the company’s stock.

DexCom Stock Performance

Shares of DXCM opened at $71.54 on Friday. The company has a market capitalization of $27.61 billion, a price-to-earnings ratio of 30.57, a price-to-earnings-growth ratio of 1.18 and a beta of 1.45. DexCom, Inc. has a 52-week low of $54.11 and a 52-week high of $89.98. The company has a quick ratio of 1.64, a current ratio of 1.95 and a debt-to-equity ratio of 0.42. The stock has a 50 day moving average price of $72.46 and a 200 day moving average price of $68.94.

DexCom (NASDAQ:DXCM) last released its quarterly earnings data on Thursday, April 30th. The medical device company reported $0.56 earnings per share for the quarter, topping analysts’ consensus estimates of $0.47 by $0.09. The company had revenue of $1.19 billion for the quarter, compared to analysts’ expectations of $1.17 billion. DexCom had a net margin of 19.31% and a return on equity of 33.33%. The firm’s revenue for the quarter was up 15.0% on a year-over-year basis. During the same quarter last year, the company earned $0.32 earnings per share. Research analysts predict that DexCom, Inc. will post 2.57 EPS for the current fiscal year.

Insider Transactions at DexCom

In related news, EVP Jon Coleman sold 4,911 shares of the firm’s stock in a transaction dated Thursday, June 4th. The stock was sold at an average price of $74.13, for a total transaction of $364,052.43. Following the transaction, the executive vice president owned 95,450 shares of the company’s stock, valued at $7,075,708.50. This trade represents a 4.89% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Mark G. Foletta sold 4,000 shares of the stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $74.13, for a total value of $296,520.00. Following the sale, the director directly owned 52,852 shares of the company’s stock, valued at $3,917,918.76. The trade was a 7.04% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 71,750 shares of company stock worth $5,163,241. Insiders own 0.28% of the company’s stock.

Wall Street Analyst Weigh In

DXCM has been the topic of a number of recent research reports. Deutsche Bank Aktiengesellschaft started coverage on shares of DexCom in a research note on Tuesday, June 23rd. They set a “buy” rating and a $86.00 price target on the stock. Piper Sandler restated an “overweight” rating and issued a $88.00 price objective (up from $75.00) on shares of DexCom in a report on Monday, June 15th. UBS Group set a $95.00 target price on shares of DexCom in a research note on Wednesday, June 10th. Sanford C. Bernstein set a $77.00 target price on shares of DexCom in a report on Friday, May 1st. Finally, Bank of America decreased their price target on shares of DexCom from $100.00 to $80.00 and set a “buy” rating for the company in a research report on Monday, May 18th. Two analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $85.36.

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.