Stevens Capital Management LP Buys Shares of 6,981 DexCom, Inc. $DXCM

Stevens Capital Management LP purchased a new position in DexCom, Inc. (NASDAQ:DXCM) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 6,981 shares of the medical device company’s stock, valued at approximately $470,000.

A number of other hedge funds also recently bought and sold shares of DXCM. Norges Bank bought a new position in DexCom in the second quarter valued at about $453,279,000. Groupama Asset Managment increased its position in shares of DexCom by 79,043.1% during the 2nd quarter. Groupama Asset Managment now owns 4,016,513 shares of the medical device company’s stock valued at $350,601,000 after purchasing an additional 4,011,438 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its stake in shares of DexCom by 106.8% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 6,605,687 shares of the medical device company’s stock worth $576,610,000 after purchasing an additional 3,410,858 shares during the period. Marshall Wace LLP boosted its holdings in shares of DexCom by 260.7% in the second quarter. Marshall Wace LLP now owns 3,822,085 shares of the medical device company’s stock worth $333,630,000 after buying an additional 2,762,504 shares during the last quarter. Finally, Federated Hermes Inc. boosted its holdings in shares of DexCom by 82.1% in the second quarter. Federated Hermes Inc. now owns 3,633,139 shares of the medical device company’s stock worth $317,137,000 after buying an additional 1,638,407 shares during the last quarter. Hedge funds and other institutional investors own 97.75% of the company’s stock.

DexCom Trading Up 1.1%

Shares of DexCom stock opened at $73.08 on Friday. DexCom, Inc. has a fifty-two week low of $54.11 and a fifty-two week high of $91.87. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.59 and a current ratio of 1.88. The company has a market capitalization of $28.13 billion, a P/E ratio of 34.80, a P/E/G ratio of 1.42 and a beta of 1.49. The company has a fifty day moving average of $69.49 and a 200 day moving average of $69.31.

DexCom (NASDAQ:DXCM) last announced its quarterly earnings data on Thursday, February 12th. The medical device company reported $0.68 EPS for the quarter, beating the consensus estimate of $0.65 by $0.03. The business had revenue of $1.26 billion for 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 business’s revenue was up 13.1% on a year-over-year basis. During the same period in the previous year, the business earned $0.45 earnings per share. On average, sell-side analysts anticipate that DexCom, Inc. will post 2.03 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have commented on the stock. BTIG Research reaffirmed a “buy” rating and set a $85.00 target price on shares of DexCom in a report on Friday, February 13th. UBS Group reduced their price objective on DexCom from $106.00 to $95.00 and set a “buy” rating for the company in a research note on Monday, November 3rd. Wall Street Zen cut DexCom from a “strong-buy” rating to a “buy” rating in a report on Sunday, November 16th. Piper Sandler reissued an “overweight” rating on shares of DexCom in a report on Thursday, February 5th. Finally, Barclays restated an “underweight” rating and issued a $72.00 price target (up previously from $71.00) on shares of DexCom in a research report on Friday, February 13th. Two analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating, four have given a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, DexCom currently has a consensus rating of “Moderate Buy” and an average target price of $85.18.

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.