Meridiem Capital Partners LP Raises Stock Holdings in DexCom, Inc. $DXCM

Meridiem Capital Partners LP grew its position in shares of DexCom, Inc. (NASDAQ:DXCM) by 38.2% in the third quarter, according to its most recent filing with the SEC. The fund owned 269,926 shares of the medical device company’s stock after acquiring an additional 74,577 shares during the quarter. Meridiem Capital Partners LP’s holdings in DexCom were worth $18,163,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Vanguard Group Inc. increased its position in DexCom by 2.3% in the third quarter. Vanguard Group Inc. now owns 49,456,043 shares of the medical device company’s stock worth $3,327,897,000 after purchasing an additional 1,133,638 shares during the last quarter. Geode Capital Management LLC lifted its position in DexCom by 3.4% during the second quarter. Geode Capital Management LLC now owns 10,766,356 shares of the medical device company’s stock valued at $936,100,000 after purchasing an additional 358,617 shares during the last quarter. Massachusetts Financial Services Co. MA grew 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 buying an additional 3,410,858 shares in the last quarter. Norges Bank bought a new stake in shares of DexCom in the 2nd quarter worth about $453,279,000. Finally, Groupama Asset Managment increased its holdings in shares of DexCom by 79,043.1% in the 2nd quarter. Groupama Asset Managment now owns 4,016,513 shares of the medical device company’s stock worth $350,601,000 after buying an additional 4,011,438 shares during the last quarter. 97.75% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts recently commented on DXCM shares. Citigroup increased their price target on shares of DexCom from $77.00 to $84.00 and gave the company a “buy” rating in a report on Wednesday. Canaccord Genuity Group set a $95.00 price objective on DexCom and gave the company a “buy” rating in a research report on Friday, February 13th. Weiss Ratings raised DexCom from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Wednesday, March 4th. Wall Street Zen cut DexCom from a “strong-buy” rating to a “buy” rating in a report on Sunday, November 16th. Finally, Evercore assumed coverage on DexCom in a research report on Tuesday, November 25th. They set an “in-line” rating and a $68.00 target price on the stock. Two research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, DexCom presently has a consensus rating of “Moderate Buy” and an average target price of $85.50.

DexCom Trading Down 0.4%

Shares of DXCM stock traded down $0.27 on Friday, reaching $64.99. 375,737 shares of the company’s stock were exchanged, compared to its average volume of 5,202,254. The company’s fifty day simple moving average is $70.71 and its 200 day simple moving average is $68.53. DexCom, Inc. has a 52 week low of $54.11 and a 52 week high of $89.98. 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 has a market capitalization of $25.01 billion, a PE ratio of 30.93, a P/E/G ratio of 1.29 and a beta of 1.48.

DexCom (NASDAQ:DXCM) last released its earnings results on Thursday, February 12th. The medical device company reported $0.68 earnings per share for the quarter, topping 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 for the quarter, compared to analyst estimates of $1.25 billion. During the same quarter last year, the firm posted $0.45 earnings per share. The business’s revenue was up 13.1% compared to the same quarter last year. As a group, 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.