Meridiem Capital Partners LP Grows Stake in DexCom, Inc. $DXCM

Meridiem Capital Partners LP boosted its position in shares of DexCom, Inc. (NASDAQ:DXCM) by 38.2% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 269,926 shares of the medical device company’s stock after acquiring an additional 74,577 shares during the quarter. Meridiem Capital Partners LP owned 0.07% of DexCom worth $18,163,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the company. GAMMA Investing LLC boosted its holdings in shares of DexCom by 2.5% in the third quarter. GAMMA Investing LLC now owns 7,043 shares of the medical device company’s stock worth $474,000 after buying an additional 169 shares during the last quarter. Inspire Investing LLC grew its position in shares of DexCom by 6.1% during the 3rd quarter. Inspire Investing LLC now owns 3,139 shares of the medical device company’s stock valued at $211,000 after acquiring an additional 180 shares during the period. Personal CFO Solutions LLC increased its stake in shares of DexCom by 5.0% in the 3rd quarter. Personal CFO Solutions LLC now owns 3,864 shares of the medical device company’s stock worth $260,000 after purchasing an additional 185 shares in the last quarter. Inspire Advisors LLC raised its holdings in DexCom by 2.5% in the 3rd quarter. Inspire Advisors LLC now owns 7,926 shares of the medical device company’s stock worth $533,000 after purchasing an additional 194 shares during the period. Finally, Integrated Wealth Concepts LLC raised its holdings in DexCom by 6.3% in the 1st quarter. Integrated Wealth Concepts LLC now owns 3,329 shares of the medical device company’s stock worth $227,000 after purchasing an additional 196 shares during the period. 97.75% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

DXCM has been the subject of several recent research reports. Morgan Stanley reissued an “overweight” rating on shares of DexCom in a report on Monday, January 12th. Piper Sandler reaffirmed an “overweight” rating on shares of DexCom in a research report on Thursday, February 5th. Barclays reiterated an “underweight” rating and set a $72.00 price objective (up from $71.00) on shares of DexCom in a research note on Friday, February 13th. Citigroup raised their target price on shares of DexCom from $77.00 to $84.00 and gave the stock a “buy” rating in a research note on Wednesday. Finally, Truist Financial reaffirmed 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. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $85.50.

DexCom Price Performance

DXCM stock traded down $0.27 during midday trading on Friday, hitting $64.99. The company’s stock had a trading volume of 375,737 shares, compared to its average volume of 5,202,254. The company has a quick ratio of 1.59, a current ratio of 1.88 and a debt-to-equity ratio of 0.45. DexCom, Inc. has a 12 month low of $54.11 and a 12 month high of $89.98. The company has a 50 day moving average of $70.71 and a two-hundred day moving average of $68.53. The firm has a market capitalization of $25.01 billion, a price-to-earnings ratio of 30.93, a price-to-earnings-growth ratio of 1.29 and a beta of 1.48.

DexCom (NASDAQ:DXCM) last released its earnings results 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 net margin of 17.94% and a return on equity of 32.12%. The company’s quarterly revenue was up 13.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.45 earnings per share. On average, analysts expect that DexCom, Inc. will post 2.03 EPS 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.