NEOS Investment Management LLC Boosts Position in DexCom, Inc. $DXCM

NEOS Investment Management LLC grew its holdings in shares of DexCom, Inc. (NASDAQ:DXCM) by 58.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 175,982 shares of the medical device company’s stock after buying an additional 65,066 shares during the quarter. NEOS Investment Management LLC’s holdings in DexCom were worth $11,842,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in DXCM. Jennison Associates LLC grew its stake in DexCom by 9.4% during the 2nd quarter. Jennison Associates LLC now owns 11,517,546 shares of the medical device company’s stock valued at $1,005,367,000 after purchasing an additional 994,300 shares in the last quarter. Marshall Wace LLP boosted its stake in shares of DexCom by 260.7% during the 2nd quarter. Marshall Wace LLP now owns 3,822,085 shares of the medical device company’s stock valued at $333,630,000 after buying an additional 2,762,504 shares during the last quarter. E. Ohman J or Asset Management AB grew its position in shares of DexCom by 400.2% during the third quarter. E. Ohman J or Asset Management AB now owns 77,492 shares of the medical device company’s stock worth $5,214,000 after buying an additional 62,000 shares in the last quarter. Zevenbergen Capital Investments LLC increased its stake in shares of DexCom by 10.0% in the third quarter. Zevenbergen Capital Investments LLC now owns 685,433 shares of the medical device company’s stock worth $46,123,000 after buying an additional 62,098 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. raised its holdings in DexCom by 11.2% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 212,045 shares of the medical device company’s stock valued at $14,269,000 after acquiring an additional 21,352 shares in the last quarter. Institutional investors and hedge funds own 97.75% of the company’s stock.

DexCom Stock Up 0.6%

Shares of DexCom stock opened at $70.43 on Wednesday. DexCom, Inc. has a twelve month low of $54.11 and a twelve month high of $93.25. The stock has a market capitalization of $27.11 billion, a price-to-earnings ratio of 33.54, a PEG ratio of 1.25 and a beta of 1.49. The company has a current ratio of 1.88, a quick ratio of 1.59 and a debt-to-equity ratio of 0.45. The business’s 50 day simple moving average is $69.20 and its 200-day simple moving average is $69.33.

DexCom (NASDAQ:DXCM) last issued its earnings results on Thursday, February 12th. The medical device company reported $0.68 earnings per share 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 analyst estimates of $1.25 billion. During the same period last year, the company earned $0.45 earnings per share. The firm’s revenue for the quarter was up 13.1% on a year-over-year basis. Equities research analysts forecast that DexCom, Inc. will post 2.03 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on DXCM shares. Wall Street Zen lowered shares of DexCom from a “strong-buy” rating to a “buy” rating in a report on Sunday, November 16th. Stifel Nicolaus began coverage on DexCom in a research note on Tuesday, October 21st. They issued a “buy” rating and a $85.00 price target for the company. Morgan Stanley restated an “overweight” rating on shares of DexCom in a research note on Monday, January 12th. Citigroup reiterated a “buy” rating and issued a $77.00 target price (up previously from $75.00) on shares of DexCom in a research report on Thursday, December 11th. Finally, TD Cowen dropped their price target on DexCom from $100.00 to $84.00 and set a “buy” rating on the stock in a research report on Friday, October 31st. Two analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $85.18.

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.