Rafferty Asset Management LLC Grows Holdings in DexCom, Inc. $DXCM

Rafferty Asset Management LLC raised its position in shares of DexCom, Inc. (NASDAQ:DXCM) by 19.3% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 225,033 shares of the medical device company’s stock after purchasing an additional 36,347 shares during the quarter. Rafferty Asset Management LLC owned 0.06% of DexCom worth $15,142,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Andra AP fonden bought a new position in DexCom in the 2nd quarter worth $26,000. Twin Peaks Wealth Advisors LLC purchased a new position in shares of DexCom in the second quarter valued at about $26,000. SJS Investment Consulting Inc. boosted its stake in shares of DexCom by 4,800.0% in the third quarter. SJS Investment Consulting Inc. now owns 392 shares of the medical device company’s stock worth $26,000 after acquiring an additional 384 shares during the period. Financial Consulate Inc. bought a new position in shares of DexCom in the third quarter worth about $29,000. Finally, Sound Income Strategies LLC grew its position in shares of DexCom by 83.8% during the third quarter. Sound Income Strategies LLC now owns 625 shares of the medical device company’s stock worth $43,000 after purchasing an additional 285 shares in the last quarter. 97.75% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on DXCM. Piper Sandler reaffirmed an “overweight” rating on shares of DexCom in a report on Thursday, February 5th. Argus cut their target price on shares of DexCom from $100.00 to $90.00 and set a “buy” rating for the company in a research note on Friday, November 7th. Robert W. Baird set a $87.00 price target on shares of DexCom in a report on Friday, February 13th. Sanford C. Bernstein reissued an “outperform” rating and set a $86.00 price objective (up from $84.00) on shares of DexCom in a report on Friday, January 9th. Finally, Wells Fargo & Company cut their price objective on DexCom from $93.00 to $85.00 and set an “overweight” rating for the company in a research report on Friday, February 13th. Two research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, four have given a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, DexCom currently has an average rating of “Moderate Buy” and a consensus price target of $85.18.

DexCom Stock Down 1.3%

Shares of DXCM opened at $73.43 on Friday. The company has a quick ratio of 1.59, a current ratio of 1.88 and a debt-to-equity ratio of 0.45. The business has a fifty day moving average of $70.24 and a 200 day moving average of $69.15. The company has a market cap of $28.26 billion, a PE ratio of 34.97, a P/E/G ratio of 1.43 and a beta of 1.49. DexCom, Inc. has a 52-week low of $54.11 and a 52-week high of $89.98.

DexCom (NASDAQ:DXCM) last issued its quarterly earnings results on Thursday, February 12th. The medical device company reported $0.68 EPS for the quarter, beating 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 company had revenue of $1.26 billion for the quarter, compared to the consensus estimate of $1.25 billion. During the same period in the prior year, the firm posted $0.45 EPS. The firm’s revenue was up 13.1% compared to the same quarter last year. On average, sell-side analysts expect 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.