Rock Springs Capital Management LP Buys 8,300 Shares of DexCom, Inc. $DXCM

Rock Springs Capital Management LP lifted its stake in shares of DexCom, Inc. (NASDAQ:DXCM) by 2.4% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 355,600 shares of the medical device company’s stock after purchasing an additional 8,300 shares during the quarter. DexCom accounts for 1.3% of Rock Springs Capital Management LP’s holdings, making the stock its 24th biggest holding. Rock Springs Capital Management LP’s holdings in DexCom were worth $22,332,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of the stock. Reflection Asset Management bought a new stake in DexCom during the fourth quarter worth about $25,000. Ascentis Independent Advisors acquired a new stake in DexCom during the first quarter worth about $25,000. MCF Advisors LLC bought a new position in DexCom in the 4th quarter valued at about $32,000. ORG Partners LLC increased its holdings in DexCom by 124.3% in the 4th 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 during the period. Finally, DV Equities LLC acquired a new position in shares of DexCom in the 4th quarter valued at approximately $36,000. Institutional investors own 97.75% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Truist Financial upped their price target on shares of DexCom from $80.00 to $87.00 and gave the stock a “buy” rating in a report on Thursday, July 16th. Benchmark restated a “buy” rating on shares of DexCom in a research report on Tuesday, June 23rd. William Blair upgraded DexCom to a “strong-buy” rating in a research note on Friday, May 15th. Wall Street Zen cut DexCom from a “strong-buy” rating to a “buy” rating in a research note on Sunday, May 10th. Finally, Canaccord Genuity Group set a $82.00 target price on DexCom and gave the company a “buy” rating in a report on Monday, May 18th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $85.36.

Insiders Place Their Bets

In other DexCom news, Director Bridgette P. Heller sold 1,012 shares of the firm’s stock in a transaction that occurred 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 sale, the director owned 25,007 shares in the company, valued at $1,500,670.07. This trade represents a 3.89% decrease in their ownership of the stock. 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, EVP Jon Coleman sold 4,912 shares of the stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of $73.00, for a total value of $358,576.00. Following the completion of the transaction, the executive vice president owned 100,361 shares of the company’s stock, valued at $7,326,353. The trade was a 4.67% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 71,750 shares of company stock worth $5,163,241 over the last 90 days. Insiders own 0.28% of the company’s stock.

DexCom Stock Up 2.6%

DXCM stock opened at $73.37 on Tuesday. The stock has a market capitalization of $28.31 billion, a P/E ratio of 31.35, a price-to-earnings-growth ratio of 1.18 and a beta of 1.45. The company has a current ratio of 1.95, a quick ratio of 1.64 and a debt-to-equity ratio of 0.42. DexCom, Inc. has a 12 month low of $54.11 and a 12 month high of $89.98. The firm has a 50-day moving average price of $72.63 and a 200-day moving average price of $68.97.

DexCom (NASDAQ:DXCM) last posted its quarterly earnings results on Thursday, April 30th. The medical device company reported $0.56 earnings per share for the quarter, beating analysts’ consensus estimates of $0.47 by $0.09. The company had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.17 billion. DexCom had a net margin of 19.31% and a return on equity of 33.33%. The firm’s quarterly revenue was up 15.0% compared to the same quarter last year. During the same period last year, the company posted $0.32 EPS. As a group, equities research analysts anticipate that DexCom, Inc. will post 2.57 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.