Polar Asset Management Partners Inc. Invests $3.70 Million in DexCom, Inc. (NASDAQ:DXCM)

Polar Asset Management Partners Inc. purchased a new position in shares of DexCom, Inc. (NASDAQ:DXCM) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 47,564 shares of the medical device company’s stock, valued at approximately $3,699,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Forvis Mazars Wealth Advisors LLC grew its position in shares of DexCom by 0.7% during the 4th quarter. Forvis Mazars Wealth Advisors LLC now owns 17,481 shares of the medical device company’s stock worth $1,359,000 after buying an additional 118 shares in the last quarter. Principal Securities Inc. grew its position in shares of DexCom by 3.4% during the 4th quarter. Principal Securities Inc. now owns 4,069 shares of the medical device company’s stock worth $316,000 after buying an additional 135 shares in the last quarter. Larson Financial Group LLC grew its position in shares of DexCom by 40.5% during the 4th quarter. Larson Financial Group LLC now owns 475 shares of the medical device company’s stock worth $37,000 after buying an additional 137 shares in the last quarter. Nia Impact Advisors LLC grew its position in shares of DexCom by 1.4% during the 4th quarter. Nia Impact Advisors LLC now owns 9,850 shares of the medical device company’s stock worth $766,000 after buying an additional 140 shares in the last quarter. Finally, Level Four Advisory Services LLC boosted its position in DexCom by 1.1% during the fourth quarter. Level Four Advisory Services LLC now owns 13,196 shares of the medical device company’s stock valued at $1,026,000 after purchasing an additional 150 shares in the last quarter. Institutional investors own 97.75% of the company’s stock.

DexCom Trading Down 1.0%

Shares of NASDAQ:DXCM opened at $85.67 on Friday. DexCom, Inc. has a 52-week low of $57.52 and a 52-week high of $132.26. The stock has a market cap of $33.59 billion, a price-to-earnings ratio of 59.91, a PEG 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. The business has a 50-day moving average price of $71.70 and a 200-day moving average price of $77.51.

DexCom (NASDAQ:DXCM) last announced its quarterly earnings data on Thursday, May 1st. The medical device company reported $0.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.33 by ($0.01). DexCom had a return on equity of 30.14% and a net margin of 14.29%. The firm had revenue of $1.04 billion during the quarter, compared to analysts’ expectations of $1.02 billion. During the same quarter in the previous year, the business earned $0.32 earnings per share. The company’s revenue for the quarter was up 12.5% compared to the same quarter last year. Equities analysts predict that DexCom, Inc. will post 2.03 EPS for the current year.

Analyst Ratings Changes

A number of brokerages have commented on DXCM. Citigroup boosted their target price on shares of DexCom from $101.00 to $104.00 and gave the stock a “buy” rating in a report on Tuesday, March 4th. Mizuho initiated coverage on shares of DexCom in a research note on Thursday, April 10th. They set an “outperform” rating and a $85.00 price objective for the company. Wells Fargo & Company reissued an “overweight” rating on shares of DexCom in a research report on Saturday, March 8th. Redburn Atlantic raised shares of DexCom from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $85.00 to $115.00 in a report on Monday, February 3rd. Finally, Cfra Research upgraded DexCom to a “hold” rating in a report on Friday, March 21st. 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. According to MarketBeat, DexCom has a consensus rating of “Moderate Buy” and an average target price of $98.11.

Insider Transactions at DexCom

In related news, CEO Kevin R. Sayer sold 32,498 shares of DexCom stock in a transaction that occurred 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 completion of 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Jacob Steven Leach sold 14,076 shares of DexCom stock in a transaction that occurred on 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 owns 313,497 shares of the company’s stock, valued at approximately $22,063,918.86. This represents a 4.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 66,926 shares of company stock worth $4,734,384 over the last three months. 0.32% of the stock is currently owned by insiders.

DexCom Company 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.