ExodusPoint Capital Management LP Buys 309,714 Shares of DexCom, Inc. (NASDAQ:DXCM)

ExodusPoint Capital Management LP raised its stake in DexCom, Inc. (NASDAQ:DXCM) by 197.6% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 466,414 shares of the medical device company’s stock after acquiring an additional 309,714 shares during the period. ExodusPoint Capital Management LP’s holdings in DexCom were worth $36,273,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the stock. Geode Capital Management LLC grew its position in shares of DexCom by 0.6% during the fourth quarter. Geode Capital Management LLC now owns 9,993,698 shares of the medical device company’s stock valued at $775,256,000 after purchasing an additional 56,094 shares in the last quarter. Jennison Associates LLC boosted its stake in DexCom by 10.3% during the fourth quarter. Jennison Associates LLC now owns 7,643,757 shares of the medical device company’s stock valued at $594,455,000 after buying an additional 710,858 shares during the last quarter. Norges Bank purchased a new position in DexCom during the 4th quarter valued at approximately $385,367,000. Groupama Asset Managment increased its stake in DexCom by 1.1% in the 3rd quarter. Groupama Asset Managment now owns 2,851,556 shares of the medical device company’s stock worth $1,912,000 after acquiring an additional 31,358 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of DexCom by 3.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,825,206 shares of the medical device company’s stock worth $219,716,000 after acquiring an additional 91,051 shares in the last quarter. Hedge funds and other institutional investors own 97.75% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have commented on DXCM. Baird R W upgraded shares of DexCom from a “hold” rating to a “strong-buy” rating in a research report on Thursday, January 16th. Morgan Stanley lifted their price target on DexCom from $75.00 to $82.00 and gave the stock an “equal weight” rating in a research report on Friday, February 14th. Wells Fargo & Company reissued an “overweight” rating on shares of DexCom in a research note on Saturday, March 8th. Robert W. Baird raised DexCom from a “neutral” rating to an “outperform” rating and raised their price objective for the company from $86.00 to $104.00 in a research note on Thursday, January 16th. Finally, Redburn Atlantic raised DexCom from a “neutral” rating to a “buy” rating and boosted their target price for the company from $85.00 to $115.00 in a research report on Monday, February 3rd. Five investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, DexCom has an average rating of “Moderate Buy” and an average target price of $99.82.

DexCom Trading Up 1.2 %

Shares of DXCM opened at $68.14 on Thursday. The firm has a market capitalization of $26.63 billion, a price-to-earnings ratio of 47.65, a PEG ratio of 2.30 and a beta of 1.28. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.47 and a quick ratio of 1.28. DexCom, Inc. has a 1-year low of $62.34 and a 1-year high of $141.99. The company has a 50-day moving average of $81.24 and a 200 day moving average of $77.04.

DexCom (NASDAQ:DXCM) last issued its earnings results on Thursday, February 13th. The medical device company reported $0.45 EPS for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.05). DexCom had a return on equity of 30.14% and a net margin of 14.29%. On average, research analysts expect that DexCom, Inc. will post 2.03 EPS for the current year.

Insiders Place Their Bets

In other news, EVP Jereme M. Sylvain sold 2,090 shares of the stock in a transaction on Wednesday, January 29th. The stock was sold at an average price of $86.91, for a total transaction of $181,641.90. Following the transaction, the executive vice president now owns 83,526 shares of the company’s stock, valued at approximately $7,259,244.66. This represents a 2.44 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Jacob Steven Leach sold 14,076 shares of DexCom 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 completion of the sale, the chief operating officer now owns 313,497 shares of the company’s stock, valued at $22,063,918.86. The trade was a 4.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 105,009 shares of company stock worth $8,044,178 in the last ninety days. 0.30% of the stock is owned by company 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.