Beacon Pointe Advisors LLC Increases Stock Position in DexCom, Inc. (NASDAQ:DXCM)

Beacon Pointe Advisors LLC lifted its holdings in DexCom, Inc. (NASDAQ:DXCMGet Rating) by 290.0% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 22,579 shares of the medical device company’s stock after purchasing an additional 16,790 shares during the period. Beacon Pointe Advisors LLC’s holdings in DexCom were worth $1,686,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of DXCM. Los Angeles Capital Management LLC raised its stake in shares of DexCom by 153.7% during the 1st quarter. Los Angeles Capital Management LLC now owns 2,083 shares of the medical device company’s stock worth $1,066,000 after acquiring an additional 1,262 shares in the last quarter. CWM LLC increased its stake in DexCom by 448.1% during the 2nd quarter. CWM LLC now owns 2,801 shares of the medical device company’s stock valued at $209,000 after purchasing an additional 2,290 shares in the last quarter. Truist Financial Corp increased its stake in DexCom by 295.9% during the 2nd quarter. Truist Financial Corp now owns 112,220 shares of the medical device company’s stock valued at $8,364,000 after purchasing an additional 83,876 shares in the last quarter. Prelude Capital Management LLC increased its stake in DexCom by 243.7% during the 1st quarter. Prelude Capital Management LLC now owns 5,293 shares of the medical device company’s stock valued at $2,708,000 after purchasing an additional 3,753 shares in the last quarter. Finally, Jennison Associates LLC increased its stake in DexCom by 83.4% during the 1st quarter. Jennison Associates LLC now owns 2,600,283 shares of the medical device company’s stock valued at $1,330,305,000 after purchasing an additional 1,182,632 shares in the last quarter. Hedge funds and other institutional investors own 92.34% of the company’s stock.

DexCom Price Performance

DexCom stock opened at $112.92 on Thursday. DexCom, Inc. has a 12-month low of $66.89 and a 12-month high of $152.62. The stock has a market cap of $43.62 billion, a P/E ratio of 208.15, a PEG ratio of 4.26 and a beta of 1.21. The company has a 50-day moving average price of $100.97 and a 200 day moving average price of $87.73. The company has a current ratio of 3.77, a quick ratio of 3.43 and a debt-to-equity ratio of 1.08.

Insider Buying and Selling

In other DexCom news, CFO Jereme M. Sylvain sold 2,400 shares of DexCom stock in a transaction dated Monday, November 21st. The shares were sold at an average price of $112.62, for a total transaction of $270,288.00. Following the completion of the sale, the chief financial officer now directly owns 67,237 shares in the company, valued at $7,572,230.94. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.41% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. StockNews.com assumed coverage on shares of DexCom in a research note on Wednesday, October 12th. They set a “hold” rating on the stock. Jefferies Financial Group started coverage on shares of DexCom in a report on Wednesday, October 12th. They set a “buy” rating and a $125.00 price target on the stock. Cowen increased their price target on shares of DexCom from $85.00 to $114.00 in a report on Friday, October 28th. Barclays assumed coverage on shares of DexCom in a report on Monday, October 17th. They set an “equal weight” rating and a $103.00 price objective on the stock. Finally, Piper Sandler increased their price objective on shares of DexCom to $130.00 in a report on Tuesday, November 1st. Three analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $120.24.

DexCom Profile

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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, an integrated CGM system for diabetes management; Dexcom Real-Time API, which enables invited third-party developers to integrate real-time CGM data into their digital health applications and devices; Dexcom ONE, that is designed to replace finger stick blood glucose testing for diabetes treatment decisions; and Dexcom Share, a remote monitoring system.

Further Reading

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Institutional Ownership by Quarter for DexCom (NASDAQ:DXCM)

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