Y Intercept Hong Kong Ltd Takes $3.38 Million Position in DexCom, Inc. $DXCM

Y Intercept Hong Kong Ltd acquired a new stake in shares of DexCom, Inc. (NASDAQ:DXCM) in the third quarter, HoldingsChannel reports. The fund acquired 50,185 shares of the medical device company’s stock, valued at approximately $3,377,000.

Several other institutional investors have also recently added to or reduced their stakes in DXCM. Norges Bank bought a new position in shares of DexCom during the second quarter valued at approximately $453,279,000. Groupama Asset Managment increased its position in shares of DexCom by 79,043.1% during the 2nd quarter. Groupama Asset Managment now owns 4,016,513 shares of the medical device company’s stock valued at $350,601,000 after purchasing an additional 4,011,438 shares during the period. Massachusetts Financial Services Co. MA raised its position in DexCom by 106.8% in the second quarter. Massachusetts Financial Services Co. MA now owns 6,605,687 shares of the medical device company’s stock worth $576,610,000 after acquiring an additional 3,410,858 shares in the last quarter. Marshall Wace LLP boosted its holdings in DexCom by 260.7% during the second quarter. Marshall Wace LLP now owns 3,822,085 shares of the medical device company’s stock worth $333,630,000 after buying an additional 2,762,504 shares in the last quarter. Finally, Federated Hermes Inc. increased its stake in DexCom by 82.1% in the 2nd quarter. Federated Hermes Inc. now owns 3,633,139 shares of the medical device company’s stock worth $317,137,000 after purchasing an additional 1,638,407 shares in the last quarter. Institutional investors own 97.75% of the company’s stock.

DexCom Stock Down 0.3%

DexCom stock opened at $73.15 on Tuesday. The company has a current ratio of 1.56, a quick ratio of 1.38 and a debt-to-equity ratio of 0.45. The company has a fifty day simple moving average of $66.71 and a 200 day simple moving average of $70.98. The company has a market cap of $28.53 billion, a P/E ratio of 40.64, a price-to-earnings-growth ratio of 1.31 and a beta of 1.48. DexCom, Inc. has a 1-year low of $54.11 and a 1-year high of $93.25.

DexCom (NASDAQ:DXCM) last issued its quarterly earnings results on Thursday, October 30th. The medical device company reported $0.61 EPS for the quarter, beating the consensus estimate of $0.57 by $0.04. DexCom had a return on equity of 30.65% and a net margin of 15.96%.The firm had revenue of $1.21 billion during the quarter, compared to analysts’ expectations of $1.18 billion. During the same period in the prior year, the firm posted $0.45 earnings per share. The business’s quarterly revenue was up 21.6% compared to the same quarter last year. Research analysts anticipate that DexCom, Inc. will post 2.03 earnings per share for the current fiscal year.

Insider Buying and Selling

In other DexCom news, COO Jacob Steven Leach purchased 18,200 shares of the stock in a transaction on Monday, November 10th. The shares were purchased at an average price of $55.04 per share, with a total value of $1,001,728.00. Following the completion of the transaction, the chief operating officer directly owned 331,697 shares in the company, valued at $18,256,602.88. This represents a 5.81% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Richard Alexander Collins sold 3,948 shares of the stock in a transaction on Monday, November 10th. The shares were sold at an average price of $55.17, for a total value of $217,811.16. Following the completion of the sale, the director owned 37,994 shares in the company, valued at approximately $2,096,128.98. This trade represents a 9.41% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 7,866 shares of company stock worth $448,177. Company insiders own 0.32% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. Robert W. Baird set a $82.00 price target on shares of DexCom in a report on Friday, October 31st. Canaccord Genuity Group set a $99.00 price objective on shares of DexCom and gave the company a “buy” rating in a research report on Friday, October 31st. Truist Financial restated a “buy” rating and set a $82.00 price target (down previously from $94.00) on shares of DexCom in a research note on Monday, November 3rd. Barclays downgraded shares of DexCom from an “equal weight” rating to an “underweight” rating and cut their price target for the company from $80.00 to $71.00 in a report on Monday, January 12th. Finally, BTIG Research reduced their price target on shares of DexCom from $109.00 to $85.00 and set a “buy” rating on the stock in a research report on Friday, October 31st. Two research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $86.30.

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.