Peregrine Capital Management LLC Raises Position in DexCom, Inc. $DXCM

Key Points

• Peregrine Capital Management increased its stake in DexCom by 23.9% in Q4 to 657,819 shares (about $43.66M), and roughly 97.75% of DexCom is currently owned by hedge funds and other institutional investors.
• DexCom beat Q results (EPS $0.68 vs $0.65, revenue $1.26B, revenue +13.1% YoY); analysts give a consensus rating of "Moderate Buy" with an average price target of $86.50, while the stock trades near $63 with a market cap of about $24.4B.

Peregrine Capital Management LLC raised its position in DexCom, Inc. (NASDAQ:DXCM - Free Report) by 23.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 657,819 shares of the medical device company's stock after acquiring an additional 126,891 shares during the quarter. DexCom accounts for about 1.3% of Peregrine Capital Management LLC's investment portfolio, making the stock its 17th largest holding. Peregrine Capital Management LLC owned approximately 0.17% of DexCom worth $43,659,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in DXCM. SJS Investment Consulting Inc. grew its stake in DexCom by 4,800.0% during the 3rd quarter. SJS Investment Consulting Inc. now owns 392 shares of the medical device company's stock valued at $26,000 after purchasing an additional 384 shares in the last quarter. Financial Consulate Inc. acquired a new stake in shares of DexCom during the third quarter worth approximately $29,000. CVA Family Office LLC increased its stake in shares of DexCom by 48.5% in the fourth quarter. CVA Family Office LLC now owns 450 shares of the medical device company's stock worth $30,000 after buying an additional 147 shares during the last quarter. ORG Partners LLC raised its holdings in DexCom by 124.3% in the fourth quarter. ORG Partners LLC now owns 507 shares of the medical device company's stock valued at $34,000 after acquiring an additional 281 shares in the last quarter. Finally, Spire Wealth Management boosted its stake in DexCom by 113.8% during the 4th quarter. Spire Wealth Management now owns 573 shares of the medical device company's stock valued at $38,000 after acquiring an additional 305 shares during the last quarter. 97.75% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. Barclays reaffirmed an "underweight" rating and set a $72.00 price target (up from $71.00) on shares of DexCom in a research report on Friday, February 13th. Canaccord Genuity Group set a $95.00 price objective on DexCom and gave the company a "buy" rating in a research note on Friday, February 13th. Sanford C. Bernstein reaffirmed an "outperform" rating and set a $86.00 target price (up from $84.00) on shares of DexCom in a report on Friday, January 9th. Morgan Stanley reissued an "overweight" rating on shares of DexCom in a research report on Monday, January 12th. Finally, Weiss Ratings raised shares of DexCom from a "sell (d+)" rating to a "hold (c-)" rating in a report on Wednesday, March 4th. Two analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, DexCom presently has an average rating of "Moderate Buy" and a consensus price target of $86.50.

DexCom Stock Performance

NASDAQ:DXCM traded down $0.10 during midday trading on Thursday, reaching $63.31. 118,793 shares of the company traded hands, compared to its average volume of 4,829,706. DexCom, Inc. has a twelve month low of $54.11 and a twelve month high of $89.98. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.88 and a quick ratio of 1.59. The company has a fifty day moving average price of $67.04 and a 200 day moving average price of $66.67. The firm has a market capitalization of $24.43 billion, a price-to-earnings ratio of 30.26, a price-to-earnings-growth ratio of 1.22 and a beta of 1.55.

DexCom (NASDAQ:DXCM - Get Free Report) last posted its earnings results on Thursday, February 12th. The medical device company reported $0.68 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.65 by $0.03. The company had revenue of $1.26 billion for the quarter, compared to analysts' expectations of $1.25 billion. DexCom had a return on equity of 32.12% and a net margin of 17.94%.The firm's quarterly revenue was up 13.1% compared to the same quarter last year. During the same period last year, the business posted $0.45 earnings per share. On average, analysts expect that DexCom, Inc. will post 2.49 EPS for the current fiscal year.

Insider Buying and Selling

In other DexCom news, EVP Michael Jon Brown sold 1,700 shares of the firm's 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 sale, the executive vice president owned 111,204 shares in the company, valued at approximately $7,010,300.16. This trade represents a 1.51% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.32% of the company's stock.

DexCom Profile

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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