Twinbeech Capital LP Has $41.15 Million Holdings in DexCom, Inc. (NASDAQ:DXCM)

Twinbeech Capital LP raised its holdings in DexCom, Inc. (NASDAQ:DXCM) by 742.1% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 529,151 shares of the medical device company’s stock after buying an additional 466,312 shares during the quarter. Twinbeech Capital LP’s holdings in DexCom were worth $41,152,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in DXCM. Norges Bank acquired a new position in DexCom in the fourth quarter valued at approximately $385,367,000. Congress Asset Management Co. lifted its stake in DexCom by 5,456.9% in the fourth quarter. Congress Asset Management Co. now owns 1,356,941 shares of the medical device company’s stock valued at $105,529,000 after buying an additional 1,332,522 shares during the period. Fisher Funds Management LTD acquired a new position in DexCom in the fourth quarter valued at approximately $96,507,000. Northern Trust Corp lifted its stake in DexCom by 22.2% in the fourth quarter. Northern Trust Corp now owns 4,146,249 shares of the medical device company’s stock valued at $322,454,000 after buying an additional 753,857 shares during the period. Finally, Jennison Associates LLC lifted its stake in DexCom by 10.3% in 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 period. 97.75% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at DexCom

In other DexCom news, CEO Kevin R. Sayer sold 32,498 shares of the company’s stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $70.38, for a total value of $2,287,209.24. Following the completion of the transaction, the chief executive officer now owns 372,029 shares in the company, valued at $26,183,401.02. This represents a 8.03% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Jacob Steven Leach sold 14,076 shares of the company’s stock in a transaction on 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 transaction, the chief operating officer now owns 313,497 shares of the company’s stock, valued at $22,063,918.86. This trade represents a 4.30% decrease in their position. The disclosure for this sale can be found here. Insiders sold 66,926 shares of company stock worth $4,734,384 in the last quarter. 0.32% of the stock is currently owned by company insiders.

DexCom Trading Down 0.2%

Shares of DexCom stock opened at $85.48 on Monday. The stock has a fifty day simple moving average of $72.01 and a 200 day simple moving average of $77.69. DexCom, Inc. has a 12-month low of $57.52 and a 12-month high of $132.09. The company has a market capitalization 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.

DexCom (NASDAQ:DXCM) last announced its quarterly earnings results on Thursday, May 1st. The medical device company reported $0.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.33 by ($0.01). DexCom had a return on equity of 30.14% and a net margin of 14.29%. The company had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1.02 billion. During the same quarter last year, the company posted $0.32 EPS. The company’s quarterly revenue was up 12.5% compared to the same quarter last year. 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

Several equities analysts have issued reports on the company. Canaccord Genuity Group boosted their price target on DexCom from $103.00 to $106.00 and gave the company a “buy” rating in a research note on Friday, May 2nd. Piper Sandler decreased their price objective on DexCom from $100.00 to $90.00 and set an “overweight” rating for the company in a report on Friday, May 2nd. Robert W. Baird decreased their price objective on DexCom from $115.00 to $105.00 and set an “outperform” rating for the company in a report on Friday, May 2nd. Morgan Stanley boosted their price objective on DexCom from $75.00 to $82.00 and gave the company an “equal weight” rating in a report on Friday, February 14th. Finally, Cfra Research upgraded DexCom to a “hold” rating in a report on Friday, March 21st. Five research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $98.11.

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.