Prosight Management LP Acquires 125,217 Shares of DexCom, Inc. $DXCM

Prosight Management LP grew its holdings in DexCom, Inc. (NASDAQ:DXCM) by 178.9% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 195,217 shares of the medical device company’s stock after buying an additional 125,217 shares during the quarter. DexCom makes up 3.1% of Prosight Management LP’s portfolio, making the stock its 13th largest position. Prosight Management LP owned 0.05% of DexCom worth $13,136,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in DXCM. Twin Peaks Wealth Advisors LLC bought a new stake in DexCom during the 2nd quarter worth about $26,000. SJS Investment Consulting Inc. lifted its position in shares of DexCom by 4,800.0% during the third quarter. SJS Investment Consulting Inc. now owns 392 shares of the medical device company’s stock worth $26,000 after purchasing an additional 384 shares in the last quarter. Financial Consulate Inc. acquired a new position in shares of DexCom during the third quarter worth approximately $29,000. Sound Income Strategies LLC grew its stake in shares of DexCom by 83.8% during the third quarter. Sound Income Strategies LLC now owns 625 shares of the medical device company’s stock valued at $43,000 after purchasing an additional 285 shares during the last quarter. Finally, Rothschild Investment LLC increased its holdings in shares of DexCom by 59.9% in the third quarter. Rothschild Investment LLC now owns 654 shares of the medical device company’s stock valued at $44,000 after purchasing an additional 245 shares in the last quarter. Institutional investors and hedge funds own 97.75% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently weighed in on DXCM shares. Robert W. Baird set a $87.00 price objective on shares of DexCom in a research report on Friday, February 13th. Citigroup lifted their target price on DexCom from $77.00 to $84.00 and gave the company a “buy” rating in a research note on Wednesday. Piper Sandler reaffirmed an “overweight” rating on shares of DexCom in a research note on Thursday, February 5th. Weiss Ratings upgraded DexCom from a “sell (d+)” rating to a “hold (c-)” rating in a report on Wednesday, March 4th. Finally, Evercore initiated coverage on DexCom in a research report on Tuesday, November 25th. They issued an “in-line” rating and a $68.00 price objective for the company. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $85.50.

DexCom Stock Performance

DXCM stock opened at $64.24 on Friday. The company has a quick ratio of 1.59, a current ratio of 1.88 and a debt-to-equity ratio of 0.45. DexCom, Inc. has a twelve month low of $54.11 and a twelve month high of $89.98. The business’s fifty day moving average is $70.66 and its 200-day moving average is $68.45. The company has a market cap of $24.72 billion, a P/E ratio of 30.59, a price-to-earnings-growth ratio of 1.27 and a beta of 1.48.

DexCom (NASDAQ:DXCM) last released its quarterly earnings data on Thursday, February 12th. The medical device company reported $0.68 EPS for the quarter, beating analysts’ consensus estimates of $0.65 by $0.03. DexCom had a return on equity of 32.12% and a net margin of 17.94%.The business had revenue of $1.26 billion during the quarter, compared to the consensus estimate of $1.25 billion. During the same quarter in the prior year, the company posted $0.45 earnings per share. The firm’s revenue was up 13.1% on a year-over-year basis. Equities research analysts forecast that DexCom, Inc. will post 2.03 EPS for the current year.

About DexCom

DexCom, Inc is a medical device company that develops, manufactures and distributes continuous glucose monitoring (CGM) systems for people with diabetes. Its products are designed to provide near real-time glucose readings, trend information and alerts to help patients and clinicians manage insulin dosing and reduce hypoglycemia and hyperglycemia. The company’s offerings combine wearable glucose sensors, wireless transmitters and software applications that deliver data to smartphones, dedicated receivers and cloud-based platforms for remote monitoring.

Founded in 1999 and headquartered in San Diego, California, DexCom has focused its business on advancing CGM technology and expanding clinical use beyond traditional insulin-dependent populations.