Armistice Capital LLC Takes $21.44 Million Position in DexCom, Inc. $DXCM

Armistice Capital LLC acquired a new stake in shares of DexCom, Inc. (NASDAQ:DXCM) during the 4th quarter, Holdings Channel reports. The fund acquired 323,052 shares of the medical device company’s stock, valued at approximately $21,441,000.

Several other institutional investors and hedge funds have also recently modified their holdings of DXCM. Norges Bank bought a new stake in shares of DexCom during the 4th quarter valued at $483,356,000. AQR Capital Management LLC raised its position in shares of DexCom by 597.8% during the 4th quarter. AQR Capital Management LLC now owns 3,102,789 shares of the medical device company’s stock valued at $205,932,000 after purchasing an additional 2,658,158 shares during the period. Holocene Advisors LP bought a new stake in shares of DexCom during the 3rd quarter valued at $163,964,000. CIBC Private Wealth Group LLC raised its position in shares of DexCom by 374.3% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 2,907,801 shares of the medical device company’s stock valued at $195,666,000 after purchasing an additional 2,294,709 shares during the period. Finally, J. Stern & Co. LLP raised its position in shares of DexCom by 2,114.8% during the 4th quarter. J. Stern & Co. LLP now owns 1,601,973 shares of the medical device company’s stock valued at $106,323,000 after purchasing an additional 1,529,641 shares during the period. 97.75% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other DexCom news, Director Bridgette P. Heller sold 1,012 shares of DexCom stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $60.01, for a total value of $60,730.12. Following the completion of the transaction, the director directly owned 25,007 shares of the company’s stock, valued at $1,500,670.07. This trade represents a 3.89% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Kevin R. Sayer sold 26,759 shares of DexCom stock in a transaction on Thursday, May 21st. The stock was sold at an average price of $72.00, for a total transaction of $1,926,648.00. Following the completion of the transaction, the insider directly owned 382,482 shares of the company’s stock, valued at $27,538,704. The trade was a 6.54% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 46,694 shares of company stock worth $3,343,977. Insiders own 0.28% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on DXCM shares. Canaccord Genuity Group set a $82.00 price target on shares of DexCom and gave the company a “buy” rating in a report on Monday, May 18th. BTIG Research reiterated a “buy” rating and issued a $85.00 price target on shares of DexCom in a report on Monday, March 9th. William Blair upgraded shares of DexCom to a “strong-buy” rating in a report on Friday, May 15th. Robert W. Baird set a $80.00 price target on shares of DexCom in a report on Friday, May 1st. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of DexCom in a report on Monday, June 1st. Three research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, DexCom currently has an average rating of “Moderate Buy” and an average price target of $84.83.

DexCom Stock Performance

Shares of NASDAQ DXCM opened at $71.23 on Thursday. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.64 and a current ratio of 1.95. The company has a market cap of $27.49 billion, a P/E ratio of 30.44, a P/E/G ratio of 1.14 and a beta of 1.45. The firm’s fifty day moving average is $66.75 and its two-hundred day moving average is $67.82. DexCom, Inc. has a 52-week low of $54.11 and a 52-week high of $89.98.

DexCom (NASDAQ:DXCM) last issued its quarterly earnings data on Thursday, April 30th. The medical device company reported $0.56 EPS for the quarter, topping analysts’ consensus estimates of $0.47 by $0.09. DexCom had a net margin of 19.31% and a return on equity of 33.33%. The business had revenue of $1.19 billion during the quarter, compared to analysts’ expectations of $1.17 billion. During the same period last year, the company posted $0.32 EPS. The business’s revenue was up 15.0% on a year-over-year basis. As a group, analysts anticipate that DexCom, Inc. will post 2.58 EPS for the current fiscal year.

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.