Renaissance Technologies LLC Acquires 138,200 Shares of DexCom, Inc. $DXCM

Renaissance Technologies LLC boosted its holdings in shares of DexCom, Inc. (NASDAQ:DXCM) by 9.6% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,582,996 shares of the medical device company’s stock after purchasing an additional 138,200 shares during the period. Renaissance Technologies LLC owned about 0.41% of DexCom worth $99,412,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Geode Capital Management LLC lifted its position in shares of DexCom by 0.4% in the 4th quarter. Geode Capital Management LLC now owns 11,006,183 shares of the medical device company’s stock worth $727,842,000 after purchasing an additional 42,411 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of DexCom by 6.9% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 7,999,057 shares of the medical device company’s stock valued at $530,897,000 after buying an additional 516,526 shares during the period. Norges Bank purchased a new position in shares of DexCom during the fourth quarter valued at about $483,356,000. Invesco Ltd. raised its stake in DexCom by 14.8% in the fourth quarter. Invesco Ltd. now owns 5,315,367 shares of the medical device company’s stock worth $352,781,000 after buying an additional 686,228 shares in the last quarter. Finally, CIBC Private Wealth Group LLC raised its stake in DexCom by 7.6% in the fourth quarter. CIBC Private Wealth Group LLC now owns 3,128,114 shares of the medical device company’s stock worth $207,613,000 after buying an additional 220,313 shares in the last quarter. Institutional investors own 97.75% of the company’s stock.

Insider Activity at DexCom

In other DexCom news, EVP Jon Coleman sold 4,911 shares of the company’s stock in a transaction dated Thursday, June 4th. The shares were sold at an average price of $74.13, for a total transaction of $364,052.43. Following the transaction, the executive vice president owned 95,450 shares in the company, valued at approximately $7,075,708.50. This represents a 4.89% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Mark G. Foletta sold 4,000 shares of the firm’s stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $74.13, for a total transaction of $296,520.00. Following the sale, the director directly owned 52,852 shares in the company, valued at approximately $3,917,918.76. The trade was a 7.04% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 71,750 shares of company stock valued at $5,163,241 over the last three months. 0.28% of the stock is owned by insiders.

DexCom Price Performance

Shares of NASDAQ DXCM opened at $71.54 on Friday. The firm has a market cap of $27.61 billion, a P/E ratio of 30.57, a PEG ratio of 1.18 and a beta of 1.45. DexCom, Inc. has a twelve month low of $54.11 and a twelve month high of $89.98. The company has a quick ratio of 1.64, a current ratio of 1.95 and a debt-to-equity ratio of 0.42. The company has a 50 day moving average of $72.46 and a 200 day moving average of $68.94.

DexCom (NASDAQ:DXCM) last issued its earnings results on Thursday, April 30th. The medical device company reported $0.56 EPS for the quarter, beating the consensus estimate of $0.47 by $0.09. DexCom had a return on equity of 33.33% and a net margin of 19.31%.The business had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.17 billion. During the same period last year, the business posted $0.32 EPS. The company’s revenue was up 15.0% compared to the same quarter last year. As a group, research analysts expect that DexCom, Inc. will post 2.57 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Mizuho raised their price objective on shares of DexCom from $85.00 to $90.00 and gave the stock an “outperform” rating in a report on Wednesday, July 15th. Stifel Nicolaus set a $90.00 target price on DexCom and gave the stock a “buy” rating in a report on Friday, June 5th. Weiss Ratings raised DexCom from a “hold (c-)” rating to a “hold (c)” rating in a research report on Wednesday, July 8th. Truist Financial raised their target price on DexCom from $80.00 to $87.00 and gave the company a “buy” rating in a research note on Thursday, July 16th. Finally, Canaccord Genuity Group set a $82.00 price target on DexCom and gave the company a “buy” rating in a research report on Monday, May 18th. Two analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $85.36.

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.