DexCom, Inc. (NASDAQ:DXCM) Shares Purchased by Avidity Partners Management LP

Avidity Partners Management LP increased its stake in DexCom, Inc. (NASDAQ:DXCM - Free Report) by 32.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 318,000 shares of the medical device company's stock after purchasing an additional 78,000 shares during the quarter. DexCom accounts for 2.4% of Avidity Partners Management LP's portfolio, making the stock its 16th largest position. Avidity Partners Management LP owned about 0.08% of DexCom worth $24,731,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently made changes to their positions in DXCM. Watts Gwilliam & Co. LLC bought a new position in shares of DexCom during the fourth quarter valued at approximately $3,334,000. Congress Asset Management Co. boosted its position in DexCom by 5,456.9% during the fourth quarter. Congress Asset Management Co. now owns 1,356,941 shares of the medical device company's stock worth $105,529,000 after purchasing an additional 1,332,522 shares in the last quarter. Janney Montgomery Scott LLC grew its position in shares of DexCom by 2,226.6% in the fourth quarter. Janney Montgomery Scott LLC now owns 232,543 shares of the medical device company's stock valued at $18,085,000 after purchasing an additional 222,548 shares during the period. First Hawaiian Bank increased its position in shares of DexCom by 556.1% during the fourth quarter. First Hawaiian Bank now owns 23,159 shares of the medical device company's stock worth $1,801,000 after purchasing an additional 19,629 shares in the last quarter. Finally, Proficio Capital Partners LLC purchased a new stake in shares of DexCom during the fourth quarter worth $5,812,000. Institutional investors own 97.75% of the company's stock.

Insider Activity

In other news, EVP Jereme M. Sylvain sold 7,000 shares of the company's stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $73.83, for a total value of $516,810.00. Following the completion of the sale, the executive vice president now owns 135,482 shares of the company's stock, valued at approximately $10,002,636.06. This represents a 4.91 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Jacob Steven Leach sold 14,076 shares of the firm's stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $70.38, for a total transaction of $990,668.88. Following the completion of the sale, the chief operating officer now owns 313,497 shares of the company's stock, valued at approximately $22,063,918.86. This trade represents a 4.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 66,926 shares of company stock valued at $4,734,384 in the last ninety days. 0.32% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on DXCM shares. Wells Fargo & Company reiterated an "overweight" rating on shares of DexCom in a report on Saturday, March 8th. Mizuho assumed coverage on DexCom in a research note on Thursday, April 10th. They issued an "outperform" rating and a $85.00 price objective on the stock. Barclays boosted their price target on shares of DexCom from $90.00 to $93.00 and gave the stock an "equal weight" rating in a report on Monday. Piper Sandler cut their target price on DexCom from $100.00 to $90.00 and set an "overweight" rating on the stock in a research report on Friday, May 2nd. Finally, Redburn Atlantic upgraded shares of DexCom from a "neutral" rating to a "buy" rating and upped their price objective for the company from $85.00 to $115.00 in a research note on Monday, February 3rd. Five equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have given a strong buy rating to the company's stock. According to MarketBeat.com, DexCom presently has an average rating of "Moderate Buy" and an average target price of $98.11.

DexCom Price Performance

NASDAQ:DXCM traded down $0.52 during mid-day trading on Friday, reaching $84.82. The stock had a trading volume of 2,498,237 shares, compared to its average volume of 4,309,392. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.28 and a current ratio of 1.47. The firm has a 50 day moving average price of $71.03 and a two-hundred day moving average price of $77.09. The stock has a market capitalization of $33.26 billion, a P/E ratio of 59.31, a P/E/G ratio of 2.30 and a beta of 1.43. DexCom, Inc. has a one year low of $57.52 and a one year high of $132.26.

DexCom (NASDAQ:DXCM - Get Free Report) last announced its earnings results on Thursday, May 1st. The medical device company reported $0.32 earnings per share for the quarter, missing analysts' consensus estimates of $0.33 by ($0.01). The company had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1.02 billion. DexCom had a net margin of 14.29% and a return on equity of 30.14%. The company's revenue for the quarter was up 12.5% on a year-over-year basis. During the same period in the previous year, the firm posted $0.32 EPS. As a group, analysts expect that DexCom, Inc. will post 2.03 earnings per share for the current year.

About DexCom

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.