Lecap Asset Management Ltd. Acquires New Position in DexCom, Inc. $DXCM

Key Points

• Lecap Asset Management opened a new position in DexCom by buying 33,086 shares worth about $2.20 million, making DXCM ~0.9% of its portfolio and its 10th largest holding.
• DexCom beat expectations in its latest quarter (EPS $0.68 vs. $0.65 consensus; revenue $1.26B vs. $1.25B), with revenue up 13.1% year-over-year and a market cap of roughly $24.7 billion.
• Analyst sentiment is largely positive — consensus rating is a Moderate Buy with an average price target of $86.50 and several upgrades — while institutional investors own 97.75% of the stock and insiders hold 0.32% (an EVP sold 1,700 shares under a 10b5-1 plan).

Lecap Asset Management Ltd. acquired a new stake in DexCom, Inc. (NASDAQ:DXCM - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 33,086 shares of the medical device company's stock, valued at approximately $2,196,000. DexCom accounts for about 0.9% of Lecap Asset Management Ltd.'s investment portfolio, making the stock its 10th largest holding.

Other hedge funds have also recently added to or reduced their stakes in the company. Brighton Jones LLC lifted its position in shares of DexCom by 257.7% during the 4th quarter. Brighton Jones LLC now owns 16,582 shares of the medical device company's stock valued at $1,290,000 after acquiring an additional 11,946 shares during the period. Integrated Wealth Concepts LLC lifted its position in shares of DexCom by 6.3% during the 1st quarter. Integrated Wealth Concepts LLC now owns 3,329 shares of the medical device company's stock valued at $227,000 after acquiring an additional 196 shares during the period. Empowered Funds LLC lifted its position in shares of DexCom by 5.4% during the 1st quarter. Empowered Funds LLC now owns 8,446 shares of the medical device company's stock valued at $577,000 after acquiring an additional 436 shares during the period. Focus Partners Wealth lifted its position in shares of DexCom by 13.2% during the 1st quarter. Focus Partners Wealth now owns 7,218 shares of the medical device company's stock valued at $493,000 after acquiring an additional 841 shares during the period. Finally, NewEdge Advisors LLC lifted its position in shares of DexCom by 1.4% during the 2nd quarter. NewEdge Advisors LLC now owns 19,253 shares of the medical device company's stock valued at $1,681,000 after acquiring an additional 258 shares during the period. Institutional investors and hedge funds own 97.75% of the company's stock.

Insider Buying and Selling

In other DexCom news, EVP Michael Jon Brown sold 1,700 shares of DexCom stock in a transaction that occurred on Wednesday, April 15th. The shares were sold at an average price of $63.04, for a total value of $107,168.00. Following the completion of the sale, the executive vice president directly owned 111,204 shares of the company's stock, valued at approximately $7,010,300.16. The trade was a 1.51% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.32% of the company's stock.

Analyst Ratings Changes

Several research analysts recently issued reports on DXCM shares. Truist Financial restated a "buy" rating and set a $80.00 price objective (down from $82.00) on shares of DexCom in a research report on Tuesday, February 17th. Piper Sandler restated an "overweight" rating on shares of DexCom in a research report on Thursday, February 5th. BTIG Research restated a "buy" rating and set a $85.00 price objective on shares of DexCom in a research report on Monday, March 9th. Evercore upgraded DexCom from an "in-line" rating to an "outperform" rating and set a $90.00 price objective for the company in a research report on Tuesday, March 24th. Finally, Citigroup lifted their price objective on DexCom from $77.00 to $84.00 and gave the stock a "buy" rating in a research report on Wednesday, March 11th. Two analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, DexCom presently has a consensus rating of "Moderate Buy" and an average price target of $86.50.

DexCom Stock Up 4.5%

DXCM stock opened at $63.98 on Friday. The stock has a market capitalization of $24.69 billion, a P/E ratio of 30.47, a PEG ratio of 1.19 and a beta of 1.55. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.59 and a current ratio of 1.88. DexCom, Inc. has a one year low of $54.11 and a one year high of $89.98. The company has a 50 day moving average price of $67.36 and a two-hundred day moving average price of $66.73.

DexCom (NASDAQ:DXCM - Get Free Report) last released its earnings results on Thursday, February 12th. The medical device company reported $0.68 EPS for the quarter, topping the consensus estimate of $0.65 by $0.03. The firm had revenue of $1.26 billion during the quarter, compared to analysts' expectations of $1.25 billion. DexCom had a net margin of 17.94% and a return on equity of 32.12%. DexCom's revenue for the quarter was up 13.1% on a year-over-year basis. During the same period in the previous year, the company earned $0.45 EPS. As a group, sell-side analysts expect that DexCom, Inc. will post 2.03 EPS for the current year.

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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