Cinctive Capital Management LP Buys Shares of 66,148 DexCom, Inc. $DXCM

Cinctive Capital Management LP purchased a new position in shares of DexCom, Inc. (NASDAQ:DXCM) in the 3rd quarter, HoldingsChannel reports. The firm purchased 66,148 shares of the medical device company’s stock, valued at approximately $4,451,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Marshall Wace LLP lifted its stake in DexCom by 260.7% in the second quarter. Marshall Wace LLP now owns 3,822,085 shares of the medical device company’s stock valued at $333,630,000 after buying an additional 2,762,504 shares during the period. E. Ohman J or Asset Management AB raised its holdings in DexCom by 400.2% during the third quarter. E. Ohman J or Asset Management AB now owns 77,492 shares of the medical device company’s stock worth $5,214,000 after buying an additional 62,000 shares during the last quarter. Zevenbergen Capital Investments LLC lifted its stake in shares of DexCom by 10.0% in the third quarter. Zevenbergen Capital Investments LLC now owns 685,433 shares of the medical device company’s stock valued at $46,123,000 after buying an additional 62,098 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of DexCom by 11.2% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 212,045 shares of the medical device company’s stock valued at $14,269,000 after buying an additional 21,352 shares in the last quarter. Finally, NEOS Investment Management LLC grew its holdings in shares of DexCom by 58.7% during the third quarter. NEOS Investment Management LLC now owns 175,982 shares of the medical device company’s stock valued at $11,842,000 after buying an additional 65,066 shares during the last quarter. 97.75% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on DXCM shares. Robert W. Baird set a $87.00 target price on shares of DexCom in a research report on Friday, February 13th. Canaccord Genuity Group set a $95.00 price target on DexCom and gave the company a “buy” rating in a research note on Friday, February 13th. Leerink Partners reissued an “outperform” rating and set a $92.00 price objective on shares of DexCom in a report on Tuesday, December 16th. Evercore assumed coverage on DexCom in a research note on Tuesday, November 25th. They issued an “in-line” rating and a $68.00 price objective for the company. Finally, Mizuho raised their target price on DexCom from $78.00 to $90.00 and gave the company an “outperform” rating in a report on Friday, February 13th. Two research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $85.50.

DexCom Stock Down 1.6%

DXCM opened at $64.24 on Monday. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.88 and a quick ratio of 1.59. The company’s 50-day moving average is $70.66 and its 200 day moving average is $68.34. DexCom, Inc. has a fifty-two week low of $54.11 and a fifty-two week high of $89.98. The firm has a market capitalization of $24.72 billion, a P/E ratio of 30.59, a PEG ratio of 1.25 and a beta of 1.48.

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