Sirios Capital Management L P Acquires 145,682 Shares of DexCom, Inc. $DXCM

Sirios Capital Management L P increased its holdings in shares of DexCom, Inc. (NASDAQ:DXCM) by 74.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 340,170 shares of the medical device company’s stock after purchasing an additional 145,682 shares during the quarter. DexCom makes up approximately 3.0% of Sirios Capital Management L P’s portfolio, making the stock its 10th biggest position. Sirios Capital Management L P owned approximately 0.09% of DexCom worth $22,890,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Brighton Jones LLC boosted its holdings in shares of DexCom by 257.7% in the 4th quarter. Brighton Jones LLC now owns 16,582 shares of the medical device company’s stock valued at $1,290,000 after buying an additional 11,946 shares in the last quarter. Integrated Wealth Concepts LLC raised its stake in DexCom by 6.3% during the 1st quarter. Integrated Wealth Concepts LLC now owns 3,329 shares of the medical device company’s stock worth $227,000 after acquiring an additional 196 shares in the last quarter. Empowered Funds LLC raised its stake in DexCom by 5.4% during the 1st quarter. Empowered Funds LLC now owns 8,446 shares of the medical device company’s stock worth $577,000 after acquiring an additional 436 shares in the last quarter. Focus Partners Wealth lifted its position in DexCom by 13.2% in the first quarter. Focus Partners Wealth now owns 7,218 shares of the medical device company’s stock valued at $493,000 after acquiring an additional 841 shares during the last quarter. Finally, Allworth Financial LP lifted its position in DexCom by 33.8% in the second quarter. Allworth Financial LP now owns 3,807 shares of the medical device company’s stock valued at $332,000 after acquiring an additional 961 shares during the last quarter. 97.75% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

DXCM has been the topic of several research reports. Piper Sandler reaffirmed an “overweight” rating on shares of DexCom in a report on Thursday, February 5th. Robert W. Baird set a $87.00 target price on DexCom in a report on Friday, February 13th. Evercore started coverage on DexCom in a report on Tuesday, November 25th. They issued an “in-line” rating and a $68.00 target price for the company. Morgan Stanley reissued an “overweight” rating on shares of DexCom in a research report on Monday, January 12th. Finally, Citigroup raised their price target on DexCom from $77.00 to $84.00 and gave the stock a “buy” rating in a research note on Wednesday. Two research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $85.50.

DexCom Price Performance

Shares of DXCM opened at $64.24 on Friday. The company has a current ratio of 1.88, a quick ratio of 1.59 and a debt-to-equity ratio of 0.45. The stock’s 50 day moving average is $70.66 and its two-hundred day moving average is $68.45. DexCom, Inc. has a twelve month low of $54.11 and a twelve month high of $89.98. The firm has a market capitalization of $24.72 billion, a PE ratio of 30.59, a P/E/G ratio of 1.27 and a beta of 1.48.

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

DexCom Profile

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.