Pallas Capital Advisors LLC Reduces Position in DexCom, Inc. $DXCM

Pallas Capital Advisors LLC trimmed its holdings in DexCom, Inc. (NASDAQ:DXCM) by 69.7% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 7,055 shares of the medical device company’s stock after selling 16,243 shares during the period. Pallas Capital Advisors LLC’s holdings in DexCom were worth $468,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of DXCM. Marshall Wace LLP raised its holdings in shares of DexCom by 260.7% during the second quarter. Marshall Wace LLP now owns 3,822,085 shares of the medical device company’s stock valued at $333,630,000 after purchasing an additional 2,762,504 shares during the last quarter. E. Ohman J or Asset Management AB boosted its holdings in DexCom by 400.2% in the third quarter. E. Ohman J or Asset Management AB now owns 77,492 shares of the medical device company’s stock worth $5,214,000 after purchasing an additional 62,000 shares during the last quarter. Gradient Investments LLC grew its position in DexCom by 13.8% in the 4th quarter. Gradient Investments LLC now owns 332,006 shares of the medical device company’s stock worth $22,035,000 after purchasing an additional 40,343 shares during the period. Zevenbergen Capital Investments LLC grew its position in DexCom by 10.0% in the 3rd quarter. Zevenbergen Capital Investments LLC now owns 685,433 shares of the medical device company’s stock worth $46,123,000 after purchasing an additional 62,098 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. raised its stake in DexCom by 11.2% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 212,045 shares of the medical device company’s stock valued at $14,269,000 after buying an additional 21,352 shares during the last quarter. Hedge funds and other institutional investors own 97.75% of the company’s stock.

DexCom Trading Up 1.5%

DexCom stock opened at $62.80 on Wednesday. DexCom, Inc. has a 12-month low of $54.11 and a 12-month high of $89.98. The firm has a market capitalization of $24.17 billion, a price-to-earnings ratio of 29.90, a P/E/G ratio of 1.21 and a beta of 1.48. The firm has a 50 day moving average of $69.75 and a 200 day moving average of $67.37. The company has a current ratio of 1.88, a quick ratio of 1.59 and a debt-to-equity ratio of 0.45.

DexCom (NASDAQ:DXCM) last issued its quarterly earnings results on Thursday, February 12th. The medical device company reported $0.68 earnings per share for the quarter, beating the consensus estimate of $0.65 by $0.03. The business had revenue of $1.26 billion for the quarter, compared to the consensus estimate of $1.25 billion. DexCom had a net margin of 17.94% and a return on equity of 32.12%. The company’s revenue for the quarter was up 13.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.45 earnings per share. As a group, research analysts predict that DexCom, Inc. will post 2.03 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on DXCM. Truist Financial reissued a “buy” rating and set a $80.00 price target (down from $82.00) on shares of DexCom in a report on Tuesday, February 17th. Wells Fargo & Company reduced 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. Piper Sandler reissued an “overweight” rating on shares of DexCom in a report on Thursday, February 5th. Canaccord Genuity Group set a $95.00 target price on DexCom and gave the stock a “buy” rating in a research report on Friday, February 13th. Finally, Weiss Ratings upgraded DexCom from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Wednesday, March 4th. Two analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $86.50.

Insider Activity at DexCom

In related news, EVP Michael Jon Brown sold 1,700 shares of DexCom stock in a transaction on Monday, March 16th. The shares were sold at an average price of $64.85, for a total transaction of $110,245.00. Following the transaction, the executive vice president owned 112,904 shares in the company, valued at approximately $7,321,824.40. The trade was a 1.48% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.32% of the stock is owned by insiders.

DexCom Company 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.