Renaissance Technologies LLC Grows Stake in DexCom, Inc. $DXCM

Renaissance Technologies LLC increased its position in DexCom, Inc. (NASDAQ:DXCM) by 9.6% in the 1st quarter, HoldingsChannel.com reports. The fund owned 1,582,996 shares of the medical device company’s stock after acquiring an additional 138,200 shares during the quarter. Renaissance Technologies LLC’s holdings in DexCom were worth $99,412,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. Reflection Asset Management bought a new position in DexCom in the fourth quarter valued at about $25,000. Ascentis Independent Advisors purchased a new position in DexCom in the first quarter worth about $25,000. CVA Family Office LLC grew its stake in shares of 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 purchasing an additional 147 shares during the period. MCF Advisors LLC bought a new stake in shares of DexCom during the 4th quarter valued at about $32,000. Finally, ORG Partners LLC increased its position in shares of DexCom by 124.3% during the 4th quarter. ORG Partners LLC now owns 507 shares of the medical device company’s stock valued at $34,000 after purchasing an additional 281 shares during the last quarter. Hedge funds and other institutional investors own 97.75% of the company’s stock.

Insider Activity at DexCom

In other DexCom news, insider Kevin R. Sayer sold 26,756 shares of DexCom stock in a transaction that occurred on Monday, July 6th. The shares were sold at an average price of $72.00, for a total transaction of $1,926,432.00. Following the transaction, the insider owned 355,726 shares of the company’s stock, valued at $25,612,272. The trade was a 7.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Jon Coleman sold 4,911 shares of the company’s stock in a transaction that occurred on Thursday, June 4th. The stock was sold at an average price of $74.13, for a total transaction of $364,052.43. Following the completion of the transaction, the executive vice president owned 95,450 shares of the company’s stock, valued at approximately $7,075,708.50. The trade was a 4.89% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 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 in the last 90 days. Insiders own 0.28% of the company’s stock.

DexCom Stock Up 1.5%

NASDAQ DXCM opened at $71.54 on Friday. DexCom, Inc. has a 52 week low of $54.11 and a 52 week high of $89.98. The company has a quick ratio of 1.64, a current ratio of 1.95 and a debt-to-equity ratio of 0.42. The company has a market capitalization of $27.61 billion, a P/E ratio of 30.57, a price-to-earnings-growth ratio of 1.18 and a beta of 1.45. The stock’s 50-day moving average price is $72.46 and its 200-day moving average price is $68.94.

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

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on DXCM shares. Benchmark reiterated a “buy” rating on shares of DexCom in a research note on Tuesday, June 23rd. Barclays restated an “underweight” rating and set a $64.00 target price (down from $67.00) on shares of DexCom in a research report on Monday, May 18th. Robert W. Baird set a $80.00 price target on shares of DexCom in a research report on Friday, May 1st. Truist Financial lifted their price target on shares of DexCom from $80.00 to $87.00 and gave the stock a “buy” rating in a research note on Thursday, July 16th. Finally, Citigroup reiterated a “buy” rating and set a $84.00 price target (up from $79.00) on shares of DexCom in a research note on Thursday, May 28th. Two 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 assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $85.36.

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.