Tri Locum Partners LP Has $43.84 Million Stake in DexCom, Inc. $DXCM

Tri Locum Partners LP raised its holdings in DexCom, Inc. (NASDAQ:DXCM) by 65.6% during the first quarter, HoldingsChannel reports. The firm owned 698,158 shares of the medical device company’s stock after acquiring an additional 276,558 shares during the quarter. DexCom accounts for 6.2% of Tri Locum Partners LP’s holdings, making the stock its 8th largest position. Tri Locum Partners LP’s holdings in DexCom were worth $43,844,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Brighton Jones LLC boosted its stake in DexCom by 257.7% in the fourth quarter. Brighton Jones LLC now owns 16,582 shares of the medical device company’s stock valued at $1,290,000 after buying an additional 11,946 shares in the last quarter. Integrated Wealth Concepts LLC raised its stake in DexCom by 6.3% during the first quarter. Integrated Wealth Concepts LLC now owns 3,329 shares of the medical device company’s stock worth $227,000 after acquiring an additional 196 shares in the last quarter. Empowered Funds LLC raised its stake in DexCom by 5.4% during the first quarter. Empowered Funds LLC now owns 8,446 shares of the medical device company’s stock worth $577,000 after acquiring an additional 436 shares in the last quarter. Focus Partners Wealth raised its stake in DexCom by 13.2% during the first quarter. Focus Partners Wealth now owns 7,218 shares of the medical device company’s stock worth $493,000 after acquiring an additional 841 shares in the last quarter. Finally, NewEdge Advisors LLC lifted its holdings in shares of DexCom by 1.4% in the second quarter. NewEdge Advisors LLC now owns 19,253 shares of the medical device company’s stock worth $1,681,000 after acquiring an additional 258 shares during the last quarter. Institutional investors own 97.75% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on DXCM. Bank of America reduced their price target on shares of DexCom from $100.00 to $80.00 and set a “buy” rating on the stock in a research note on Monday, May 18th. Canaccord Genuity Group set a $82.00 price objective on shares of DexCom and gave the company a “buy” rating in a research note on Monday, May 18th. Robert W. Baird set a $80.00 price objective on shares of DexCom in a research note on Friday, May 1st. Weiss Ratings lowered shares of DexCom from a “hold (c)” rating to a “hold (c-)” rating in a research report on Tuesday. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $88.00 target price (up from $75.00) on shares of DexCom in a research note on Monday, June 15th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $85.40.

DexCom Stock Up 0.4%

Shares of NASDAQ DXCM opened at $75.14 on Thursday. The company has a 50 day simple moving average of $72.86 and a 200 day simple moving average of $69.05. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.95 and a quick ratio of 1.64. DexCom, Inc. has a 1 year low of $54.11 and a 1 year high of $89.98. The firm has a market cap of $28.99 billion, a PE ratio of 32.11, a price-to-earnings-growth ratio of 1.23 and a beta of 1.45.

DexCom (NASDAQ:DXCM) last posted its earnings results on Thursday, April 30th. The medical device company reported $0.56 earnings per share for the quarter, topping analysts’ consensus estimates of $0.47 by $0.09. DexCom had a net margin of 19.31% and a return on equity of 33.33%. The firm had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.17 billion. During the same period in the previous year, the firm posted $0.32 EPS. The company’s revenue for the quarter was up 15.0% compared to the same quarter last year. On average, research analysts forecast that DexCom, Inc. will post 2.57 EPS for the current year.

Insider Activity at DexCom

In related news, Director Bridgette P. Heller sold 1,012 shares of the business’s stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $60.01, for a total value of $60,730.12. Following the sale, the director owned 25,007 shares of the company’s stock, valued at $1,500,670.07. The trade was a 3.89% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Mark G. Foletta sold 4,000 shares of the business’s stock in a transaction on Monday, June 15th. The stock was sold at an average price of $74.13, for a total transaction of $296,520.00. Following the completion of the sale, the director directly owned 52,852 shares in the company, valued at approximately $3,917,918.76. This represents 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 have sold 98,506 shares of company stock valued at $7,205,258 in the last quarter. Insiders own 0.28% of the company’s stock.

DexCom 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.