MQS Management LLC Buys Shares of 2,350 DexCom, Inc. (NASDAQ:DXCM)

MQS Management LLC purchased a new position in shares of DexCom, Inc. (NASDAQ:DXCM) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 2,350 shares of the medical device company’s stock, valued at approximately $266,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Bank of New Hampshire acquired a new stake in DexCom during the 1st quarter worth approximately $1,508,000. Eagle Asset Management Inc. increased its position in shares of DexCom by 21.5% during the fourth quarter. Eagle Asset Management Inc. now owns 1,756,216 shares of the medical device company’s stock worth $217,929,000 after acquiring an additional 310,728 shares during the period. Alberta Investment Management Corp increased its position in shares of DexCom by 27.0% during the fourth quarter. Alberta Investment Management Corp now owns 323,335 shares of the medical device company’s stock worth $40,123,000 after acquiring an additional 68,723 shares during the period. Artisan Partners Limited Partnership raised its stake in shares of DexCom by 164.8% in the fourth quarter. Artisan Partners Limited Partnership now owns 5,900,308 shares of the medical device company’s stock valued at $732,169,000 after acquiring an additional 3,672,471 shares in the last quarter. Finally, Los Angeles Capital Management LLC boosted its holdings in DexCom by 62.5% in the first quarter. Los Angeles Capital Management LLC now owns 357,033 shares of the medical device company’s stock valued at $49,520,000 after purchasing an additional 137,336 shares during the period. Hedge funds and other institutional investors own 97.75% of the company’s stock.

DexCom Stock Down 2.1 %

Shares of NASDAQ:DXCM opened at $70.43 on Friday. DexCom, Inc. has a 1-year low of $62.34 and a 1-year high of $142.00. The company has a debt-to-equity ratio of 1.00, a current ratio of 2.82 and a quick ratio of 2.48. The stock has a market cap of $28.01 billion, a P/E ratio of 45.44, a P/E/G ratio of 2.12 and a beta of 1.18. The firm has a fifty day moving average price of $78.19 and a 200 day moving average price of $109.63.

DexCom (NASDAQ:DXCM) last announced its earnings results on Thursday, July 25th. The medical device company reported $0.43 earnings per share for the quarter, topping the consensus estimate of $0.39 by $0.04. The business had revenue of $1 billion during the quarter, compared to the consensus estimate of $1.04 billion. DexCom had a net margin of 16.95% and a return on equity of 31.41%. The business’s quarterly revenue was up 15.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.34 earnings per share. Sell-side analysts predict that DexCom, Inc. will post 1.69 EPS for the current year.

Insider Activity

In related news, EVP Michael Jon Brown sold 659 shares of the stock in a transaction on Friday, June 28th. The stock was sold at an average price of $114.29, for a total transaction of $75,317.11. Following the completion of the sale, the executive vice president now directly owns 66,901 shares of the company’s stock, valued at $7,646,115.29. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, EVP Sadie Stern sold 426 shares of the stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $69.15, for a total transaction of $29,457.90. Following the completion of the transaction, the executive vice president now directly owns 75,451 shares of the company’s stock, valued at approximately $5,217,436.65. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Michael Jon Brown sold 659 shares of DexCom stock in a transaction that occurred on Friday, June 28th. The shares were sold at an average price of $114.29, for a total value of $75,317.11. Following the completion of the sale, the executive vice president now owns 66,901 shares in the company, valued at $7,646,115.29. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 2,483 shares of company stock valued at $201,708. Company insiders own 0.30% of the company’s stock.

Analyst Ratings Changes

DXCM has been the topic of several recent research reports. Stifel Nicolaus upped their price target on DexCom from $90.00 to $100.00 and gave the stock a “buy” rating in a report on Friday, August 23rd. StockNews.com cut shares of DexCom from a “buy” rating to a “hold” rating in a report on Monday, June 10th. Piper Sandler reiterated an “overweight” rating and set a $90.00 price target on shares of DexCom in a report on Monday, August 26th. Morgan Stanley dropped their price objective on shares of DexCom from $120.00 to $75.00 and set an “equal weight” rating on the stock in a research report on Friday, July 26th. Finally, Wells Fargo & Company decreased their price objective on shares of DexCom from $145.00 to $80.00 and set an “overweight” rating for the company in a research report on Friday, July 26th. Seven research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $112.25.

DexCom Company Profile

DexCom, Inc, a medical device company, focuses on the design, development, and commercialization of continuous glucose monitoring (CGM) systems in the United States and internationally. The company provides its systems for use by people with diabetes, as well as for use by healthcare providers. Its products include Dexcom G6 and Dexcom G7, integrated CGM systems for diabetes management; Dexcom Share, a remote monitoring system; Dexcom Real-Time API, which enables authorized third-party software developers to integrate real-time CGM data into their digital health apps and devices; and Dexcom ONE, that is designed to replace finger stick blood glucose testing for diabetes treatment decisions.