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Townsquare Capital LLC Has $2.31 Million Holdings in DexCom, Inc. (NASDAQ:DXCM)

DexCom logo with Medical background

Key Points

  • Townsquare Capital LLC reduced its stake in DexCom, Inc. by 8.9%, now holding 33,875 shares valued at approximately $2.31 million.
  • DexCom reported a 15.2% year-over-year growth in revenue, reaching $1.16 billion, with quarterly earnings of $0.48 per share, surpassing analyst expectations.
  • A significant number of institutional investors increased their holdings in DexCom during the first quarter, with some firms seeing substantial percentage increases, such as National Bank of Canada FI, which boosted its position by 139.6%.
  • Looking to export and analyze DexCom data? Unlock 5 Weeks of MarketBeat All Access for Just $5. Claim Your Limited-Time Discount.

Townsquare Capital LLC lessened its position in shares of DexCom, Inc. (NASDAQ:DXCM - Free Report) by 8.9% in the first quarter, according to its most recent filing with the SEC. The firm owned 33,875 shares of the medical device company's stock after selling 3,316 shares during the quarter. Townsquare Capital LLC's holdings in DexCom were worth $2,313,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the company. Forsta AP Fonden increased its position in DexCom by 6.0% during the 1st quarter. Forsta AP Fonden now owns 88,100 shares of the medical device company's stock valued at $6,016,000 after purchasing an additional 5,000 shares during the period. National Bank of Canada FI increased its position in DexCom by 139.6% during the 1st quarter. National Bank of Canada FI now owns 569,011 shares of the medical device company's stock valued at $38,858,000 after purchasing an additional 331,528 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in shares of DexCom by 8.7% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 988,778 shares of the medical device company's stock worth $67,524,000 after buying an additional 79,194 shares in the last quarter. Headlands Technologies LLC boosted its holdings in shares of DexCom by 293.5% during the 1st quarter. Headlands Technologies LLC now owns 24,587 shares of the medical device company's stock worth $1,679,000 after buying an additional 18,339 shares in the last quarter. Finally, Monetta Financial Services Inc. bought a new position in shares of DexCom during the 1st quarter worth approximately $683,000. Institutional investors and hedge funds own 97.75% of the company's stock.

DexCom Trading Up 3.0%

NASDAQ DXCM opened at $80.17 on Wednesday. The stock has a market capitalization of $31.44 billion, a price-to-earnings ratio of 55.67, a PEG ratio of 1.63 and a beta of 1.43. DexCom, Inc. has a one year low of $57.52 and a one year high of $93.25. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.52 and a quick ratio of 1.35. The business's fifty day moving average is $83.40 and its 200-day moving average is $80.19.

DexCom (NASDAQ:DXCM - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The medical device company reported $0.48 earnings per share for the quarter, topping the consensus estimate of $0.45 by $0.03. DexCom had a return on equity of 30.41% and a net margin of 13.29%. The company had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.13 billion. During the same quarter last year, the firm posted $0.43 EPS. The firm's revenue for the quarter was up 15.2% on a year-over-year basis. Equities research analysts predict that DexCom, Inc. will post 2.03 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. William Blair upgraded DexCom to a "strong-buy" rating in a report on Thursday, July 31st. Truist Financial assumed coverage on DexCom in a report on Monday, June 16th. They set a "buy" rating and a $102.00 price target on the stock. Wall Street Zen cut DexCom from a "strong-buy" rating to a "buy" rating in a report on Sunday. Piper Sandler increased their price target on DexCom from $90.00 to $100.00 and gave the stock an "overweight" rating in a report on Thursday, July 31st. Finally, The Goldman Sachs Group started coverage on DexCom in a report on Friday, May 30th. They issued a "buy" rating and a $104.00 target price on the stock. Four analysts have rated the stock with a hold rating, sixteen have given a buy rating and three have given a strong buy rating to the company's stock. According to data from MarketBeat, DexCom presently has an average rating of "Moderate Buy" and an average target price of $99.89.

View Our Latest Stock Analysis on DXCM

Insider Transactions at DexCom

In other DexCom news, Director Nicholas Augustinos sold 3,672 shares of DexCom stock in a transaction dated Monday, June 16th. The stock was sold at an average price of $82.80, for a total transaction of $304,041.60. Following the completion of the transaction, the director owned 33,411 shares of the company's stock, valued at $2,766,430.80. The trade was a 9.90% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Mark G. Foletta sold 2,750 shares of DexCom stock in a transaction dated Monday, June 16th. The shares were sold at an average price of $83.13, for a total value of $228,607.50. Following the transaction, the director directly owned 56,621 shares of the company's stock, valued at $4,706,903.73. The trade was a 4.63% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 28,656 shares of company stock worth $2,412,191. Insiders own 0.32% of the company's stock.

DexCom Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for DexCom (NASDAQ:DXCM)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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