Meridiem Capital Partners LP Takes Position in DexCom, Inc. (NASDAQ:DXCM)

Meridiem Capital Partners LP purchased a new stake in DexCom, Inc. (NASDAQ:DXCM) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm purchased 413,498 shares of the medical device company’s stock, valued at approximately $32,158,000. DexCom makes up about 2.8% of Meridiem Capital Partners LP’s investment portfolio, making the stock its 10th biggest holding. Meridiem Capital Partners LP owned 0.11% of DexCom at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. LMR Partners LLP acquired a new stake in DexCom in the 4th quarter valued at about $11,924,000. LRI Investments LLC grew its stake in DexCom by 17.2% in the 4th quarter. LRI Investments LLC now owns 9,910 shares of the medical device company’s stock valued at $771,000 after acquiring an additional 1,456 shares during the last quarter. Laird Norton Wetherby Wealth Management LLC grew its stake in DexCom by 16.2% in the 4th quarter. Laird Norton Wetherby Wealth Management LLC now owns 7,456 shares of the medical device company’s stock valued at $580,000 after acquiring an additional 1,040 shares during the last quarter. Integral Health Asset Management LLC grew its stake in DexCom by 25.0% in the 4th quarter. Integral Health Asset Management LLC now owns 150,000 shares of the medical device company’s stock valued at $11,666,000 after acquiring an additional 30,000 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. grew its stake in DexCom by 123.6% in the 4th quarter. Jacobs Levy Equity Management Inc. now owns 77,401 shares of the medical device company’s stock valued at $6,019,000 after acquiring an additional 42,792 shares during the last quarter. Hedge funds and other institutional investors own 97.75% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on DXCM. Wells Fargo & Company reissued an “overweight” rating on shares of DexCom in a research note on Saturday, March 8th. Citigroup raised their price target on shares of DexCom from $101.00 to $104.00 and gave the stock a “buy” rating in a research note on Tuesday, March 4th. Cfra Research raised shares of DexCom to a “hold” rating in a research note on Friday, March 21st. Barclays raised their price target on shares of DexCom from $90.00 to $93.00 and gave the stock an “equal weight” rating in a research note on Monday, May 5th. Finally, Piper Sandler decreased their price target on shares of DexCom from $100.00 to $90.00 and set an “overweight” rating on the stock in a research note on Friday, May 2nd. Five research analysts have rated the stock with a hold rating, thirteen have given a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat, DexCom has a consensus rating of “Moderate Buy” and a consensus target price of $98.11.

DexCom Trading Up 0.4%

DXCM opened at $85.05 on Tuesday. DexCom, Inc. has a 52-week low of $57.52 and a 52-week high of $132.26. The company has a quick ratio of 1.28, a current ratio of 1.47 and a debt-to-equity ratio of 0.59. The firm has a market capitalization of $33.35 billion, a P/E ratio of 59.48, a P/E/G ratio of 2.30 and a beta of 1.43. The firm’s 50 day moving average is $71.14 and its 200-day moving average is $77.30.

DexCom (NASDAQ:DXCM) last released its quarterly earnings results on Thursday, May 1st. The medical device company reported $0.32 earnings per share for the quarter, missing analysts’ consensus estimates 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 analyst estimates of $1.02 billion. During the same period in the previous year, the business posted $0.32 EPS. The firm’s quarterly revenue was up 12.5% compared to the same quarter last year. Analysts expect that DexCom, Inc. will post 2.03 EPS for the current fiscal year.

Insider Transactions at DexCom

In other DexCom news, EVP Michael Jon Brown sold 13,000 shares of DexCom stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $70.38, for a total value of $914,940.00. Following the completion of the transaction, the executive vice president now owns 105,602 shares of the company’s stock, valued at $7,432,268.76. The trade was a 10.96% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Kevin R. Sayer sold 32,498 shares of DexCom stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $70.38, for a total transaction of $2,287,209.24. Following the completion of the transaction, the chief executive officer now directly owns 372,029 shares of the company’s stock, valued at approximately $26,183,401.02. This represents a 8.03% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 66,926 shares of company stock valued at $4,734,384. 0.32% of the stock is currently owned by corporate insiders.

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.