SummitTX Capital L.P. Boosts Stock Position in DexCom, Inc. $DXCM

SummitTX Capital L.P. boosted its stake in shares of DexCom, Inc. (NASDAQ:DXCM) by 1,125.7% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 43,560 shares of the medical device company’s stock after acquiring an additional 40,006 shares during the quarter. SummitTX Capital L.P.’s holdings in DexCom were worth $2,736,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Reflection Asset Management acquired a new position in shares of DexCom in the fourth quarter valued at approximately $25,000. Ascentis Independent Advisors purchased a new stake in shares of DexCom during the first quarter worth approximately $25,000. MCF Advisors LLC acquired a new stake in shares of DexCom during the fourth quarter worth $32,000. ORG Partners LLC lifted its holdings in shares of DexCom by 124.3% during the fourth quarter. ORG Partners LLC now owns 507 shares of the medical device company’s stock worth $34,000 after purchasing an additional 281 shares during the period. Finally, DV Equities LLC purchased a new position in DexCom in the 4th quarter valued at $36,000. 97.75% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at DexCom

In related news, EVP Jon Coleman sold 4,912 shares of the business’s stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $73.00, for a total transaction of $358,576.00. Following the sale, the executive vice president owned 100,361 shares of the company’s stock, valued at approximately $7,326,353. The trade was a 4.67% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Michael Jon Brown sold 1,700 shares of the business’s stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $75.55, for a total transaction of $128,435.00. Following the sale, the executive vice president directly owned 106,353 shares in the company, valued at approximately $8,034,969.15. This represents a 1.57% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 98,506 shares of company stock worth $7,205,258. Company insiders own 0.28% of the company’s stock.

DexCom Trading Up 2.0%

Shares of DXCM stock opened at $74.85 on Wednesday. The business’s fifty day moving average price is $72.79 and its 200 day moving average price is $69.01. DexCom, Inc. has a 1-year low of $54.11 and a 1-year high of $89.98. The firm has a market capitalization of $28.88 billion, a PE ratio of 31.99, a P/E/G ratio of 1.21 and a beta of 1.45. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.95 and a quick ratio of 1.64.

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

Analyst Ratings Changes

DXCM has been the topic of several recent research reports. Canaccord Genuity Group set a $82.00 price objective on shares of DexCom and gave the company a “buy” rating in a research note on Monday, May 18th. Citigroup restated a “buy” rating and issued a $84.00 target price (up from $79.00) on shares of DexCom in a research note on Thursday, May 28th. Bank of America lowered their target price on shares of DexCom from $100.00 to $80.00 and set a “buy” rating on the stock in a report on Monday, May 18th. Truist Financial boosted 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, TD Cowen reissued a “buy” rating and set a $95.00 price target (up from $75.00) on shares of DexCom in a report on Wednesday, June 10th. Two analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, DexCom presently has an average rating of “Moderate Buy” and an average target price of $85.40.

About DexCom

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.