Meridiem Capital Partners LP Acquires Shares of 413,498 DexCom, Inc. (NASDAQ:DXCM)

Meridiem Capital Partners LP acquired a new position in shares of DexCom, Inc. (NASDAQ:DXCM - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 413,498 shares of the medical device company's stock, valued at approximately $32,158,000. DexCom makes up about 2.8% of Meridiem Capital Partners LP's investment portfolio, making the stock its 10th biggest position. Meridiem Capital Partners LP owned 0.11% of DexCom at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of the stock. Private Trust Co. NA lifted its holdings in DexCom by 266.3% in the 4th quarter. Private Trust Co. NA now owns 337 shares of the medical device company's stock worth $26,000 after buying an additional 245 shares in the last quarter. Optiver Holding B.V. acquired a new position in shares of DexCom in the fourth quarter worth about $33,000. TD Private Client Wealth LLC lifted its stake in shares of DexCom by 62.8% in the fourth quarter. TD Private Client Wealth LLC now owns 433 shares of the medical device company's stock worth $34,000 after acquiring an additional 167 shares in the last quarter. Larson Financial Group LLC boosted its holdings in DexCom by 40.5% in the fourth quarter. Larson Financial Group LLC now owns 475 shares of the medical device company's stock valued at $37,000 after purchasing an additional 137 shares during the last quarter. Finally, Heck Capital Advisors LLC acquired a new stake in DexCom during the 4th quarter valued at approximately $38,000. Hedge funds and other institutional investors own 97.75% of the company's stock.

DexCom Stock Performance

NASDAQ DXCM traded down $0.19 on Friday, hitting $85.48. The stock had a trading volume of 3,397,377 shares, compared to its average volume of 4,356,519. The company's 50-day moving average is $71.70 and its two-hundred day moving average is $77.51. The stock has a market cap of $33.52 billion, a price-to-earnings ratio of 59.78, a P/E/G ratio of 2.30 and a beta of 1.43. The company has a quick ratio of 1.28, a current ratio of 1.47 and a debt-to-equity ratio of 0.59. DexCom, Inc. has a one year low of $57.52 and a one year high of $132.26.

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

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Canaccord Genuity Group upped their target price on DexCom from $103.00 to $106.00 and gave the company a "buy" rating in a research report on Friday, May 2nd. Robert W. Baird decreased their price objective on shares of DexCom from $115.00 to $105.00 and set an "outperform" rating for the company in a report on Friday, May 2nd. Redburn Atlantic upgraded shares of DexCom from a "neutral" rating to a "buy" rating and upped their target price for the company from $85.00 to $115.00 in a research note on Monday, February 3rd. Wells Fargo & Company reaffirmed an "overweight" rating on shares of DexCom in a research report on Saturday, March 8th. Finally, Piper Sandler lowered their price objective on DexCom from $100.00 to $90.00 and set an "overweight" rating for the company in a report on Friday, May 2nd. Five analysts have rated the stock with a hold rating, thirteen have given a buy rating and three have given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $98.11.

Insider Buying and Selling

In other news, CEO Kevin R. Sayer sold 32,498 shares of DexCom stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $70.38, for a total transaction of $2,287,209.24. Following the transaction, the chief executive officer now directly owns 372,029 shares in the company, valued at approximately $26,183,401.02. This trade represents a 8.03% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Jacob Steven Leach sold 14,076 shares of the firm's stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $70.38, for a total value of $990,668.88. Following the transaction, the chief operating officer now directly owns 313,497 shares of the company's stock, valued at $22,063,918.86. This represents a 4.30% decrease in their position. The disclosure for this sale can be found here. Insiders sold 66,926 shares of company stock valued at $4,734,384 over the last 90 days. 0.32% of the stock is currently owned by company insiders.

About DexCom

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.