Prosight Management LP Has $13.14 Million Position in DexCom, Inc. $DXCM

Prosight Management LP raised its position in DexCom, Inc. (NASDAQ:DXCM) by 178.9% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 195,217 shares of the medical device company’s stock after purchasing an additional 125,217 shares during the period. DexCom makes up about 3.1% of Prosight Management LP’s investment portfolio, making the stock its 13th biggest holding. Prosight Management LP’s holdings in DexCom were worth $13,136,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of DXCM. Sirios Capital Management L P grew its holdings in shares of DexCom by 74.9% in the 3rd quarter. Sirios Capital Management L P now owns 340,170 shares of the medical device company’s stock valued at $22,890,000 after buying an additional 145,682 shares during the period. Towarzystwo Funduszy Inwestycyjnych PZU SA lifted its holdings in DexCom by 5.7% during the third quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 100,085 shares of the medical device company’s stock worth $6,735,000 after acquiring an additional 5,407 shares in the last quarter. Volterra Technologies LP acquired a new position in DexCom in the third quarter valued at about $900,000. Brown Brothers Harriman & Co. increased its holdings in shares of DexCom by 29.9% in the third quarter. Brown Brothers Harriman & Co. now owns 2,344 shares of the medical device company’s stock worth $158,000 after acquiring an additional 540 shares in the last quarter. Finally, Jump Financial LLC increased its holdings in shares of DexCom by 296.3% in the third quarter. Jump Financial LLC now owns 82,050 shares of the medical device company’s stock worth $5,521,000 after acquiring an additional 61,344 shares in the last quarter. 97.75% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have recently weighed in on DXCM. Sanford C. Bernstein reiterated 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. Wall Street Zen cut DexCom from a “strong-buy” rating to a “buy” rating in a research note on Sunday, November 16th. BTIG Research restated a “buy” rating and set a $85.00 target price on shares of DexCom in a report on Monday, March 9th. Wells Fargo & Company cut their price target on shares of DexCom from $93.00 to $85.00 and set an “overweight” rating on the stock in a research note on Friday, February 13th. Finally, Weiss Ratings raised shares of DexCom from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Wednesday, March 4th. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $85.50.

DexCom Stock Down 1.6%

NASDAQ:DXCM opened at $64.24 on Friday. The stock has a 50-day simple moving average of $70.66 and a 200 day simple moving average of $68.45. DexCom, Inc. has a 52-week low of $54.11 and a 52-week high of $89.98. The company has a market cap of $24.72 billion, a PE ratio of 30.59, a PEG ratio of 1.27 and a beta of 1.48. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.59 and a current ratio of 1.88.

DexCom (NASDAQ:DXCM) last released its 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 return on equity of 32.12% and a net margin of 17.94%.The firm had revenue of $1.26 billion for the quarter, compared to analysts’ expectations of $1.25 billion. During the same quarter in the previous year, the business posted $0.45 EPS. The business’s quarterly 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 fiscal 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.