Tri Locum Partners LP Buys 276,558 Shares of DexCom, Inc. $DXCM

Key Points

• Tri Locum Partners increased its DexCom stake by 65.6% in the first quarter, buying 276,558 shares to hold 698,158 shares valued at approximately $43.8 million. Institutional investors collectively own 97.75% of DXCM.
• Analysts maintain a generally positive outlook, with DexCom receiving a “Moderate Buy” consensus rating and an average price target of $85.40, despite some target-price reductions.
• DexCom recently reported better-than-expected quarterly results, including EPS of $0.56 versus estimates of $0.47 and revenue of $1.19 billion, up 15% year over year. Shares opened at $75.14, while insiders sold approximately $7.2 million of stock over the past three months.

Tri Locum Partners LP boosted its stake in shares of DexCom, Inc. (NASDAQ:DXCM - Free Report) by 65.6% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 698,158 shares of the medical device company's stock after purchasing an additional 276,558 shares during the period. DexCom accounts for about 6.2% of Tri Locum Partners LP's investment portfolio, making the stock its 8th biggest holding. Tri Locum Partners LP owned 0.18% of DexCom worth $43,844,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Geode Capital Management LLC grew its stake in shares of DexCom by 0.4% in the fourth quarter. Geode Capital Management LLC now owns 11,006,183 shares of the medical device company's stock valued at $727,842,000 after buying an additional 42,411 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of DexCom by 6.9% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 7,999,057 shares of the medical device company's stock valued at $530,897,000 after acquiring an additional 516,526 shares during the period. Norges Bank acquired a new position in shares of DexCom during the 4th quarter worth about $483,356,000. Invesco Ltd. raised its holdings in shares of DexCom by 14.8% in the 4th quarter. Invesco Ltd. now owns 5,315,367 shares of the medical device company's stock valued at $352,781,000 after purchasing an additional 686,228 shares during the period. Finally, CIBC Private Wealth Group LLC lifted its stake in DexCom by 7.6% in the 4th quarter. CIBC Private Wealth Group LLC now owns 3,128,114 shares of the medical device company's stock valued at $207,613,000 after purchasing an additional 220,313 shares during the last quarter. Institutional investors own 97.75% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on DXCM. Bank of America lowered their price target on DexCom from $100.00 to $80.00 and set a "buy" rating on the stock in a research report on Monday, May 18th. TD Cowen reaffirmed a "buy" rating and set a $95.00 price objective (up from $75.00) on shares of DexCom in a research report on Wednesday, June 10th. Wall Street Zen lowered shares of DexCom from a "strong-buy" rating to a "buy" rating in a research report on Sunday, May 10th. Sanford C. Bernstein set a $77.00 price target on shares of DexCom in a report on Friday, May 1st. Finally, Canaccord Genuity Group set a $82.00 target price on DexCom and gave the company a "buy" rating in a research report on Monday, May 18th. Three research analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, DexCom has an average rating of "Moderate Buy" and an average target price of $85.40.

DexCom Stock Up 0.4%

Shares of DXCM opened at $75.14 on Thursday. The company has a current ratio of 1.95, a quick ratio of 1.64 and a debt-to-equity ratio of 0.42. DexCom, Inc. has a 12 month low of $54.11 and a 12 month high of $89.98. The firm's 50 day moving average is $72.86 and its 200-day moving average is $69.05. The stock has a market capitalization of $28.99 billion, a PE ratio of 32.11, a P/E/G ratio of 1.23 and a beta of 1.45.

DexCom (NASDAQ:DXCM - Get Free Report) last issued its quarterly earnings results on Thursday, April 30th. The medical device company reported $0.56 earnings per share (EPS) for the quarter, topping 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 business had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.17 billion. During the same quarter in the prior year, the business posted $0.32 earnings per share. The firm's quarterly revenue was up 15.0% compared to the same quarter last year. Equities research analysts forecast that DexCom, Inc. will post 2.57 EPS for the current year.

Insider Transactions at DexCom

In related news, Director Mark G. Foletta sold 4,000 shares of the firm's stock in a transaction on Monday, June 15th. The stock was sold at an average price of $74.13, for a total value of $296,520.00. Following the transaction, the director owned 52,852 shares in the company, valued at approximately $3,917,918.76. This trade represents a 7.04% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Jon Coleman sold 4,912 shares of the business's stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $73.00, for a total value of $358,576.00. Following the completion of the transaction, the executive vice president directly owned 100,361 shares of the company's stock, valued at approximately $7,326,353. This trade represents a 4.67% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 98,506 shares of company stock worth $7,205,258. Corporate insiders own 0.28% of the company's stock.

DexCom Company 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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