Twinbeech Capital LP Purchases 466,312 Shares of DexCom, Inc. (NASDAQ:DXCM)

Twinbeech Capital LP grew its position in shares of DexCom, Inc. (NASDAQ:DXCM) by 742.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 529,151 shares of the medical device company’s stock after buying an additional 466,312 shares during the period. Twinbeech Capital LP owned approximately 0.14% of DexCom worth $41,152,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in DXCM. Norges Bank bought a new position in DexCom during the 4th quarter worth $385,367,000. Congress Asset Management Co. increased its position in DexCom by 5,456.9% during the 4th quarter. Congress Asset Management Co. now owns 1,356,941 shares of the medical device company’s stock worth $105,529,000 after buying an additional 1,332,522 shares during the period. Fisher Funds Management LTD bought a new position in DexCom during the 4th quarter worth $96,507,000. Northern Trust Corp increased its position in DexCom by 22.2% during the 4th quarter. Northern Trust Corp now owns 4,146,249 shares of the medical device company’s stock worth $322,454,000 after buying an additional 753,857 shares during the period. Finally, Jennison Associates LLC increased its position in DexCom by 10.3% during the 4th quarter. Jennison Associates LLC now owns 7,643,757 shares of the medical device company’s stock worth $594,455,000 after buying an additional 710,858 shares during the period. Institutional investors own 97.75% of the company’s stock.

DexCom Stock Performance

NASDAQ:DXCM opened at $85.48 on Monday. The stock has a market cap of $33.52 billion, a P/E ratio of 59.78, a price-to-earnings-growth ratio of 2.30 and a beta of 1.43. The company has a current ratio of 1.47, a quick ratio of 1.28 and a debt-to-equity ratio of 0.59. The stock’s 50-day moving average is $72.01 and its 200-day moving average is $77.69. DexCom, Inc. has a 1-year low of $57.52 and a 1-year high of $132.09.

DexCom (NASDAQ:DXCM) last released its quarterly 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). The firm had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1.02 billion. DexCom had a return on equity of 30.14% and a net margin of 14.29%. The business’s revenue for the quarter was up 12.5% on a year-over-year basis. During the same quarter last year, the firm posted $0.32 earnings per share. Equities research analysts anticipate that DexCom, Inc. will post 2.03 earnings per share for the current year.

Analyst Ratings Changes

Several research analysts have weighed in on the company. Canaccord Genuity Group increased their price objective on DexCom from $103.00 to $106.00 and gave the stock a “buy” rating in a research report on Friday, May 2nd. Citigroup raised their price target on DexCom from $101.00 to $104.00 and gave the stock a “buy” rating in a research report on Tuesday, March 4th. Robert W. Baird decreased their price target on DexCom from $115.00 to $105.00 and set an “outperform” rating on the stock in a research report on Friday, May 2nd. Piper Sandler decreased their price target on DexCom from $100.00 to $90.00 and set an “overweight” rating on the stock in a research report on Friday, May 2nd. Finally, Cfra Research upgraded DexCom to a “hold” rating in a research report on Friday, March 21st. Five equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $98.11.

Insider Transactions at DexCom

In related news, EVP Jereme M. Sylvain sold 7,000 shares of DexCom stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $73.83, for a total value of $516,810.00. Following the transaction, the executive vice president now directly owns 135,482 shares of the company’s stock, valued at $10,002,636.06. The trade was a 4.91% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Michael Jon Brown sold 13,000 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 value of $914,940.00. Following the completion of the transaction, the executive vice president now directly owns 105,602 shares in the company, valued at approximately $7,432,268.76. This represents a 10.96% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 66,926 shares of company stock worth $4,734,384. Insiders own 0.32% of the company’s stock.

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.