Woodline Partners LP Takes Position in DexCom, Inc. (NASDAQ:DXCM)

Woodline Partners LP acquired a new stake in DexCom, Inc. (NASDAQ:DXCM - Free Report) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor acquired 814,422 shares of the medical device company's stock, valued at approximately $63,338,000. Woodline Partners LP owned 0.21% of DexCom at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Congress Asset Management Co. grew its stake in shares of DexCom by 5,456.9% in the 4th quarter. Congress Asset Management Co. now owns 1,356,941 shares of the medical device company's stock valued at $105,529,000 after purchasing an additional 1,332,522 shares during the period. Janney Montgomery Scott LLC grew its stake in shares of DexCom by 2,226.6% in the 4th quarter. Janney Montgomery Scott LLC now owns 232,543 shares of the medical device company's stock valued at $18,085,000 after purchasing an additional 222,548 shares during the period. Proficio Capital Partners LLC bought a new stake in shares of DexCom in the 4th quarter valued at approximately $5,812,000. Mitsubishi UFJ Asset Management UK Ltd. grew its stake in shares of DexCom by 500.0% in the 4th quarter. Mitsubishi UFJ Asset Management UK Ltd. now owns 6,000 shares of the medical device company's stock valued at $467,000 after purchasing an additional 5,000 shares during the period. Finally, Merit Financial Group LLC bought a new stake in shares of DexCom in the 4th quarter valued at approximately $228,000. 97.75% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on DXCM shares. Cfra Research raised DexCom to a "hold" rating in a report on Friday, March 21st. Piper Sandler reduced their target price on DexCom from $100.00 to $90.00 and set an "overweight" rating on the stock in a report on Friday, May 2nd. Robert W. Baird reduced their target price on DexCom from $115.00 to $105.00 and set an "outperform" rating on the stock in a report on Friday, May 2nd. Morgan Stanley boosted their target price on DexCom from $75.00 to $82.00 and gave the stock an "equal weight" rating in a report on Friday, February 14th. Finally, Canaccord Genuity Group boosted their target price on DexCom from $103.00 to $106.00 and gave the stock a "buy" rating in a report on Friday, May 2nd. Five equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $98.11.

DexCom Stock Performance

Shares of DexCom stock opened at $86.96 on Tuesday. The firm has a fifty day moving average of $72.33 and a two-hundred day moving average of $77.80. The stock has a market capitalization of $34.10 billion, a price-to-earnings ratio of 60.81, a PEG ratio of 2.30 and a beta of 1.43. DexCom, Inc. has a 52 week low of $57.52 and a 52 week high of $132.09. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.28 and a current ratio of 1.47.

DexCom (NASDAQ:DXCM - Get Free Report) last issued its earnings results on Thursday, May 1st. The medical device company reported $0.32 EPS for the quarter, missing the consensus estimate of $0.33 by ($0.01). The business had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1.02 billion. DexCom had a net margin of 14.29% and a return on equity of 30.14%. The business's revenue was up 12.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.32 EPS. As a group, equities research analysts predict that DexCom, Inc. will post 2.03 EPS for the current year.

Insider Activity at DexCom

In related news, CEO Kevin R. Sayer sold 32,498 shares of the company's stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $70.38, for a total value of $2,287,209.24. Following the completion of the sale, the chief executive officer now owns 372,029 shares in the company, valued at $26,183,401.02. This represents a 8.03% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Michael Jon Brown sold 13,000 shares of the stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $70.38, for a total value of $914,940.00. Following the transaction, the executive vice president now owns 105,602 shares of the company's stock, valued at approximately $7,432,268.76. This trade represents a 10.96% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 66,926 shares of company stock worth $4,734,384 in the last quarter. Corporate insiders own 0.32% of the company's stock.

DexCom Profile

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.

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