CI Investments Inc. Increases Position in DexCom, Inc. $DXCM

CI Investments Inc. raised its position in shares of DexCom, Inc. (NASDAQ:DXCM) by 42.0% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 548,132 shares of the medical device company’s stock after purchasing an additional 162,100 shares during the period. CI Investments Inc. owned approximately 0.14% of DexCom worth $36,884,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Andra AP fonden bought a new position in DexCom during the second quarter valued at approximately $26,000. Twin Peaks Wealth Advisors LLC bought a new position in DexCom during the 2nd quarter worth approximately $26,000. SJS Investment Consulting Inc. grew its holdings in shares of DexCom by 4,800.0% in the third 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 during the last quarter. Financial Consulate Inc. bought a new stake in DexCom in the 3rd quarter worth $29,000. Finally, 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 valued at $43,000 after purchasing an additional 285 shares during the period. 97.75% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

DXCM has been the topic of several recent analyst reports. Weiss Ratings cut shares of DexCom from a “hold (c-)” rating to a “sell (d+)” rating in a report on Wednesday, February 18th. Truist Financial restated a “buy” rating and issued a $80.00 price target (down from $82.00) on shares of DexCom in a research note on Tuesday, February 17th. Argus reduced their price objective on shares of DexCom from $100.00 to $90.00 and set a “buy” rating for the company in a research note on Friday, November 7th. Sanford C. Bernstein reissued an “outperform” rating and issued a $86.00 target price (up from $84.00) on shares of DexCom in a report on Friday, January 9th. Finally, Wells Fargo & Company decreased their price objective on shares of DexCom from $93.00 to $85.00 and set an “overweight” rating for the company in a report on Friday, February 13th. Two research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating, four have given a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $85.18.

DexCom Price Performance

Shares of DexCom stock opened at $73.08 on Wednesday. The stock’s fifty day moving average is $70.49 and its 200 day moving average is $68.98. DexCom, Inc. has a one year low of $54.11 and a one year high of $89.98. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.59 and a current ratio of 1.88. The stock has a market cap of $28.13 billion, a P/E ratio of 34.80, a P/E/G ratio of 1.43 and a beta of 1.48.

DexCom (NASDAQ:DXCM) last posted its quarterly earnings data on Thursday, February 12th. The medical device company reported $0.68 EPS for the quarter, topping the consensus estimate of $0.65 by $0.03. The firm had revenue of $1.26 billion for the quarter, compared to the consensus estimate of $1.25 billion. DexCom had a return on equity of 32.12% and a net margin of 17.94%.The business’s revenue for the quarter was up 13.1% compared to the same quarter last year. During the same quarter last year, the company earned $0.45 earnings per share. Sell-side analysts anticipate that DexCom, Inc. will post 2.03 earnings per share for the current year.

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.