Pallas Capital Advisors LLC Decreases Stock Holdings in DexCom, Inc. $DXCM

Pallas Capital Advisors LLC trimmed its position in shares of DexCom, Inc. (NASDAQ:DXCM) by 69.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund 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 SEC filing.

A number of other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. raised its position in DexCom by 2.3% during the 3rd quarter. Vanguard Group Inc. now owns 49,456,043 shares of the medical device company’s stock valued at $3,327,897,000 after purchasing an additional 1,133,638 shares during the last quarter. Marshall Wace LLP grew its position in shares of DexCom by 260.7% in the 2nd quarter. Marshall Wace LLP now owns 3,822,085 shares of the medical device company’s stock worth $333,630,000 after buying an additional 2,762,504 shares during the last quarter. Federated Hermes Inc. grew its position in shares of DexCom by 82.1% in the 2nd quarter. Federated Hermes Inc. now owns 3,633,139 shares of the medical device company’s stock worth $317,137,000 after buying an additional 1,638,407 shares during the last quarter. CIBC Private Wealth Group LLC increased its stake in shares of DexCom by 374.3% during the third quarter. CIBC Private Wealth Group LLC now owns 2,907,801 shares of the medical device company’s stock valued at $195,666,000 after buying an additional 2,294,709 shares during the period. Finally, Legal & General Group Plc increased its stake in shares of DexCom by 4.7% during the third quarter. Legal & General Group Plc now owns 2,635,700 shares of the medical device company’s stock valued at $177,356,000 after buying an additional 117,493 shares during the period. 97.75% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, EVP Michael Jon Brown sold 1,700 shares of the company’s stock in a transaction that occurred on Monday, March 16th. The stock was sold at an average price of $64.85, for a total value of $110,245.00. Following the transaction, the executive vice president directly owned 112,904 shares of the company’s stock, valued at approximately $7,321,824.40. This represents a 1.48% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.32% of the stock is currently owned by insiders.

DexCom Stock Performance

Shares of DXCM stock opened at $62.80 on Wednesday. The company has a market capitalization of $24.17 billion, a price-to-earnings ratio of 29.90, a price-to-earnings-growth ratio of 1.21 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, Inc. has a one year low of $54.11 and a one year high of $89.98. The company’s 50-day moving average is $69.75 and its 200 day moving average is $67.37.

DexCom (NASDAQ:DXCM) last issued its earnings results 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 business had revenue of $1.26 billion during the quarter, compared to analysts’ expectations of $1.25 billion. During the same period in the previous year, the company earned $0.45 earnings per share. The business’s revenue for the quarter was up 13.1% compared to the same quarter last year. Sell-side analysts expect that DexCom, Inc. will post 2.03 EPS for the current fiscal year.

Wall Street Analyst Weigh In

DXCM has been the subject of a number of research analyst reports. Leerink Partners reaffirmed an “outperform” rating and issued a $92.00 price target on shares of DexCom in a research note on Tuesday, December 16th. Citigroup boosted their price objective on shares of DexCom from $77.00 to $84.00 and gave the company a “buy” rating in a research report on Wednesday, March 11th. Truist Financial restated a “buy” rating and issued a $80.00 price objective (down from $82.00) on shares of DexCom in a report on Tuesday, February 17th. Wells Fargo & Company dropped their target price on shares of DexCom from $93.00 to $85.00 and set an “overweight” rating for the company in a research report on Friday, February 13th. Finally, Weiss Ratings raised shares of DexCom from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Wednesday, March 4th. Two research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $86.50.

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.