Kennedy Capital Management LLC Acquires 62,077 Shares of DexCom, Inc. $DXCM

Key Points

• Kennedy Capital Management LLC increased its DexCom stake by 593.1% in the fourth quarter, buying 62,077 additional shares to bring its total holding to 72,544 shares worth about $4.8 million.
• Analysts remain largely constructive on DexCom, with a consensus rating of Moderate Buy and an average price target of $84.83. Several firms recently reiterated or raised bullish ratings, though some trimmed their target prices.
• DexCom reported strong quarterly results, posting EPS of $0.56 versus expectations of $0.47 and revenue of $1.19 billion, up 15% year over year. Despite the gains, insiders have recently sold shares, including CEO Kevin R. Sayer.

Kennedy Capital Management LLC boosted its holdings in DexCom, Inc. (NASDAQ:DXCM - Free Report) by 593.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 72,544 shares of the medical device company's stock after purchasing an additional 62,077 shares during the period. Kennedy Capital Management LLC's holdings in DexCom were worth $4,815,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the business. Eventide Asset Management LLC bought a new position in DexCom in the fourth quarter valued at $31,482,000. Entropy Technologies LP bought a new position in DexCom in the fourth quarter valued at $724,000. Aurora Investment Counsel grew its position in DexCom by 7.9% in the fourth quarter. Aurora Investment Counsel now owns 36,665 shares of the medical device company's stock valued at $2,433,000 after purchasing an additional 2,671 shares in the last quarter. Brown Advisory Inc. grew its position in DexCom by 1.2% in the fourth quarter. Brown Advisory Inc. now owns 286,509 shares of the medical device company's stock valued at $19,016,000 after purchasing an additional 3,470 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership grew its position in DexCom by 219.7% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,269,961 shares of the medical device company's stock valued at $84,287,000 after purchasing an additional 872,743 shares in the last quarter. Institutional investors own 97.75% of the company's stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on DXCM. Mizuho set a $85.00 target price on shares of DexCom and gave the company an "outperform" rating in a research report on Tuesday, June 9th. Bank of America decreased their target price on shares of DexCom from $100.00 to $80.00 and set a "buy" rating for the company in a research report on Monday, May 18th. Evercore upgraded shares of DexCom from an "in-line" rating to an "outperform" rating and set a $90.00 price target for the company in a research note on Tuesday, March 24th. Truist Financial reiterated a "buy" rating and issued a $80.00 price target (down from $82.00) on shares of DexCom in a research note on Tuesday, February 17th. Finally, Weiss Ratings reiterated a "hold (c-)" rating on shares of DexCom in a research note on Monday, June 1st. Three equities research analysts have rated the stock with a Strong Buy rating, nineteen have issued 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, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $84.83.

DexCom Stock Performance

DXCM opened at $74.22 on Tuesday. DexCom, Inc. has a 12-month low of $54.11 and a 12-month high of $89.98. The stock has a market cap of $28.64 billion, a price-to-earnings ratio of 31.72, a PEG ratio of 1.18 and a beta of 1.45. The business has a 50 day moving average of $66.37 and a 200-day moving average of $67.68. The company has a quick ratio of 1.64, a current ratio of 1.95 and a debt-to-equity ratio of 0.42.

DexCom (NASDAQ:DXCM - Get Free Report) last released 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. 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 analysts' expectations of $1.17 billion. During the same period last year, the firm posted $0.32 earnings per share. The business's revenue was up 15.0% on a year-over-year basis. On average, equities research analysts expect that DexCom, Inc. will post 2.58 earnings per share for the current year.

Insider Activity at DexCom

In related news, insider Kevin R. Sayer sold 26,759 shares of DexCom stock in a transaction dated Thursday, May 21st. The shares were sold at an average price of $72.00, for a total transaction of $1,926,648.00. Following the completion of the sale, the insider owned 382,482 shares of the company's stock, valued at approximately $27,538,704. The trade was a 6.54% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Bridgette P. Heller sold 1,012 shares of DexCom stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $60.01, for a total transaction of $60,730.12. Following the sale, the director directly owned 25,007 shares of the company's stock, valued at $1,500,670.07. The trade was a 3.89% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 40,994 shares of company stock worth $2,919,022. 0.28% of the stock is currently owned by corporate insiders.

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.

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