Iron Triangle Partners LP Makes New $57.20 Million Investment in DexCom, Inc. $DXCM

Iron Triangle Partners LP acquired a new position in shares of DexCom, Inc. (NASDAQ:DXCM) during the third quarter, Holdings Channel reports. The institutional investor acquired 850,000 shares of the medical device company’s stock, valued at approximately $57,196,000. DexCom comprises 8.1% of Iron Triangle Partners LP’s portfolio, making the stock its 2nd largest position.

Several other hedge funds have also modified their holdings of DXCM. Twin Peaks Wealth Advisors LLC purchased a new position in DexCom in the second quarter valued at $26,000. SJS Investment Consulting Inc. grew its stake in DexCom by 4,800.0% during the 3rd quarter. SJS Investment Consulting Inc. now owns 392 shares of the medical device company’s stock worth $26,000 after purchasing an additional 384 shares in the last quarter. Financial Consulate Inc. purchased a new stake in DexCom during the 3rd quarter worth about $29,000. Sound Income Strategies LLC increased its holdings in DexCom by 83.8% during the 3rd 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 during the period. Finally, Rothschild Investment LLC raised its position in DexCom by 59.9% in the 3rd quarter. Rothschild Investment LLC now owns 654 shares of the medical device company’s stock valued at $44,000 after purchasing an additional 245 shares in the last quarter. 97.75% of the stock is currently owned by institutional investors and hedge funds.

DexCom Stock Down 1.6%

DexCom stock opened at $64.24 on Monday. The stock has a 50-day simple moving average of $70.66 and a 200-day simple moving average of $68.34. DexCom, Inc. has a fifty-two week low of $54.11 and a fifty-two week high of $89.98. The company has a market capitalization of $24.72 billion, a P/E ratio of 30.59, a PEG ratio of 1.25 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 issued its quarterly earnings data on Thursday, February 12th. The medical device company reported $0.68 earnings per share (EPS) for the quarter, topping 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 last year, the firm posted $0.45 EPS. DexCom’s revenue for the quarter was up 13.1% on a year-over-year basis. Equities research analysts expect that DexCom, Inc. will post 2.03 earnings per share for the current year.

Analyst Ratings Changes

A number of brokerages have recently commented on DXCM. Wells Fargo & Company lowered 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. Citigroup raised their target price on shares of DexCom from $77.00 to $84.00 and gave the company a “buy” rating in a report on Wednesday, March 11th. Weiss Ratings upgraded shares of DexCom from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Wednesday, March 4th. BTIG Research reiterated a “buy” rating and set a $85.00 price target on shares of DexCom in a report on Monday, March 9th. Finally, Piper Sandler reissued an “overweight” rating on shares of DexCom in a research report on Thursday, February 5th. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, DexCom has an average rating of “Moderate Buy” and a consensus target price of $85.50.

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.