Weiss Asset Management LP Purchases Shares of 120,760 DexCom, Inc. $DXCM

Weiss Asset Management LP acquired a new stake in shares of DexCom, Inc. (NASDAQ:DXCM) in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 120,760 shares of the medical device company’s stock, valued at approximately $7,584,000.

A number of other institutional investors have also recently made changes to their positions in the company. Reflection Asset Management purchased a new stake in shares of DexCom in the fourth quarter worth about $25,000. Ascentis Independent Advisors purchased a new position in DexCom during the 1st quarter valued at approximately $25,000. CVA Family Office LLC grew its holdings in DexCom by 48.5% during the 4th quarter. CVA Family Office LLC now owns 450 shares of the medical device company’s stock valued at $30,000 after buying an additional 147 shares in the last quarter. MCF Advisors LLC bought a new stake in DexCom in the 4th quarter worth approximately $32,000. Finally, ORG Partners LLC increased its stake in DexCom by 124.3% in the 4th quarter. ORG Partners LLC now owns 507 shares of the medical device company’s stock worth $34,000 after acquiring an additional 281 shares during the last quarter. Hedge funds and other institutional investors own 97.75% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on DXCM shares. Wall Street Zen downgraded shares of DexCom from a “strong-buy” rating to a “buy” rating in a report on Sunday, May 10th. Mizuho increased their price target on shares of DexCom from $85.00 to $90.00 and gave the company an “outperform” rating in a report on Wednesday, July 15th. UBS Group set a $95.00 price target on DexCom in a research report on Wednesday, June 10th. Piper Sandler reissued an “overweight” rating and set a $88.00 price objective (up from $75.00) on shares of DexCom in a research note on Monday, June 15th. Finally, Citigroup restated a “buy” rating and set a $84.00 price objective (up from $79.00) on shares of DexCom in a research report on Thursday, May 28th. Two research 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. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $85.36.

DexCom Trading Up 1.5%

Shares of DXCM opened at $71.54 on Friday. DexCom, Inc. has a twelve month low of $54.11 and a twelve month high of $89.98. The company has a market cap of $27.61 billion, a P/E ratio of 30.57, a P/E/G 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. The company’s fifty day simple moving average is $72.46 and its 200-day simple moving average is $68.94.

DexCom (NASDAQ:DXCM) last released its quarterly earnings results 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 firm had revenue of $1.19 billion during the quarter, compared to analysts’ expectations of $1.17 billion. During the same period in the previous year, the company earned $0.32 EPS. The firm’s revenue for the quarter was up 15.0% compared to the same quarter last year. As a group, analysts expect that DexCom, Inc. will post 2.57 EPS for the current year.

Insider Activity at DexCom

In other news, Director Mark G. Foletta sold 4,000 shares of the company’s stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $74.13, for a total value of $296,520.00. Following the transaction, the director directly owned 52,852 shares in the company, valued at approximately $3,917,918.76. This represents a 7.04% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Kevin R. Sayer sold 26,759 shares of the company’s stock in a transaction dated 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 owned 382,482 shares in the company, valued at $27,538,704. This represents a 6.54% 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 quarter. 0.28% of the stock is owned by insiders.

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.