Rafferty Asset Management LLC Boosts Stock Holdings in DexCom, Inc. $DXCM

Rafferty Asset Management LLC increased its holdings in DexCom, Inc. (NASDAQ:DXCM) by 19.3% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 225,033 shares of the medical device company’s stock after purchasing an additional 36,347 shares during the quarter. Rafferty Asset Management LLC’s holdings in DexCom were worth $15,142,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Andra AP fonden bought a new position in shares of DexCom in the 2nd quarter worth $26,000. Twin Peaks Wealth Advisors LLC bought a new stake in shares of DexCom in the 2nd quarter valued at about $26,000. SJS Investment Consulting Inc. grew its position in shares of DexCom by 4,800.0% in the 3rd quarter. SJS Investment Consulting Inc. now owns 392 shares of the medical device company’s stock worth $26,000 after buying an additional 384 shares during the last quarter. Financial Consulate Inc. bought a new position in shares of DexCom during the 3rd quarter worth approximately $29,000. Finally, Migdal Insurance & Financial Holdings Ltd. purchased a new stake in DexCom during the second quarter valued at approximately $45,000. Hedge funds and other institutional investors own 97.75% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. Morgan Stanley reaffirmed an “overweight” rating on shares of DexCom in a research report on Monday, January 12th. Mizuho upped their price target on shares of DexCom from $78.00 to $90.00 and gave the company an “outperform” rating in a research note on Friday, February 13th. Canaccord Genuity Group set a $95.00 price objective on shares of DexCom and gave the company a “buy” rating in a report on Friday, February 13th. Piper Sandler reissued an “overweight” rating on shares of DexCom in a research report on Thursday, February 5th. Finally, Robert W. Baird set a $87.00 target price on DexCom in a research note on Friday, February 13th. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, four have given a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $85.18.

DexCom Stock Down 1.3%

Shares of DXCM stock opened at $73.43 on Friday. DexCom, Inc. has a twelve month low of $54.11 and a twelve month high of $89.98. The stock has a market cap of $28.26 billion, a P/E ratio of 34.97, a P/E/G ratio of 1.43 and a beta of 1.49. The stock has a 50 day moving average of $70.24 and a 200 day moving average of $69.15. 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 posted its 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 firm had revenue of $1.26 billion during the quarter, compared to analyst estimates of $1.25 billion. DexCom had a net margin of 17.94% and a return on equity of 32.12%. The business’s quarterly revenue was up 13.1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.45 EPS. As a group, sell-side 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.