Holocene Advisors LP Makes New $163.96 Million Investment in DexCom, Inc. $DXCM

Holocene Advisors LP bought a new stake in DexCom, Inc. (NASDAQ:DXCM) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 2,436,672 shares of the medical device company’s stock, valued at approximately $163,964,000. Holocene Advisors LP owned 0.62% of DexCom at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in DXCM. Humankind Investments LLC grew its stake in shares of DexCom by 10.2% during the 3rd quarter. Humankind Investments LLC now owns 3,370 shares of the medical device company’s stock worth $227,000 after acquiring an additional 313 shares during the period. Brevan Howard Capital Management LP lifted its holdings in DexCom by 437.2% during the third quarter. Brevan Howard Capital Management LP now owns 26,531 shares of the medical device company’s stock valued at $1,785,000 after purchasing an additional 21,592 shares during the last quarter. Cinctive Capital Management LP purchased a new stake in DexCom during the third quarter valued at about $4,451,000. Banco Bilbao Vizcaya Argentaria S.A. boosted its position in DexCom by 71.7% during the third quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 15,050 shares of the medical device company’s stock worth $1,011,000 after purchasing an additional 6,287 shares during the period. Finally, California Public Employees Retirement System boosted its position in DexCom by 34.1% during the third quarter. California Public Employees Retirement System now owns 663,053 shares of the medical device company’s stock worth $44,617,000 after purchasing an additional 168,639 shares during the period. Hedge funds and other institutional investors own 97.75% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on DXCM shares. Wells Fargo & Company lowered their price target on shares of DexCom from $93.00 to $85.00 and set an “overweight” rating on the stock in a research report on Friday, February 13th. Weiss Ratings raised shares of DexCom from a “sell (d+)” rating to a “hold (c-)” rating in a report on Wednesday, March 4th. Leerink Partners reiterated an “outperform” rating and issued a $92.00 price objective on shares of DexCom in a research note on Tuesday, December 16th. Barclays reissued an “underweight” rating and set a $72.00 target price (up from $71.00) on shares of DexCom in a report on Friday, February 13th. Finally, Sanford C. Bernstein reaffirmed an “outperform” rating and issued a $86.00 price target (up from $84.00) on shares of DexCom in a report on Friday, January 9th. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $85.50.

DexCom Price Performance

DXCM stock opened at $64.24 on Monday. The firm has a 50 day moving average of $70.66 and a 200-day moving average of $68.34. The company has a current ratio of 1.88, a quick ratio of 1.59 and a debt-to-equity ratio of 0.45. DexCom, Inc. has a 12 month low of $54.11 and a 12 month high of $89.98. The firm has a market capitalization of $24.72 billion, a P/E ratio of 30.59, a price-to-earnings-growth ratio of 1.25 and a beta of 1.48.

DexCom (NASDAQ:DXCM) last posted 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 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 analyst estimates of $1.25 billion. During the same quarter in the prior year, the firm posted $0.45 EPS. DexCom’s revenue was up 13.1% on a year-over-year basis. As a group, sell-side analysts predict that DexCom, Inc. will post 2.03 earnings per share for the current fiscal year.

DexCom Company 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.