Iron Triangle Partners LP Purchases New Shares in DexCom, Inc. $DXCM

Iron Triangle Partners LP purchased a new position in DexCom, Inc. (NASDAQ:DXCM) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 850,000 shares of the medical device company’s stock, valued at approximately $57,196,000. DexCom makes up about 8.1% of Iron Triangle Partners LP’s portfolio, making the stock its 2nd biggest holding. Iron Triangle Partners LP owned approximately 0.22% of DexCom at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in DXCM. Twin Peaks Wealth Advisors LLC acquired a new position in shares of DexCom during the 2nd quarter worth about $26,000. SJS Investment Consulting Inc. boosted its holdings in 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. purchased a new stake in DexCom during the 3rd quarter worth approximately $29,000. Sound Income Strategies LLC increased its position in shares of DexCom by 83.8% during the third quarter. Sound Income Strategies LLC now owns 625 shares of the medical device company’s stock worth $43,000 after purchasing an additional 285 shares in the last quarter. Finally, Rothschild Investment LLC grew its holdings in shares of DexCom by 59.9% during the third quarter. Rothschild Investment LLC now owns 654 shares of the medical device company’s stock worth $44,000 after buying an additional 245 shares in the last quarter. 97.75% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have weighed in on DXCM. Morgan Stanley reissued an “overweight” rating on shares of DexCom in a research note on Monday, January 12th. Truist Financial restated a “buy” rating and issued a $80.00 price target (down from $82.00) on shares of DexCom in a research report on Tuesday, February 17th. Mizuho increased their price target on DexCom from $78.00 to $90.00 and gave the company an “outperform” rating in a report on Friday, February 13th. Sanford C. Bernstein reiterated an “outperform” rating and set a $86.00 price objective (up from $84.00) on shares of DexCom in a research report on Friday, January 9th. Finally, BTIG Research reissued a “buy” rating and set a $85.00 price objective on shares of DexCom in a research note on Monday, March 9th. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $85.50.

DexCom Price Performance

NASDAQ:DXCM opened at $64.24 on Monday. DexCom, Inc. has a 52 week low of $54.11 and a 52 week high of $89.98. The stock’s fifty day moving average is $70.66 and its two-hundred day moving average is $68.34. The company has a market capitalization of $24.72 billion, a P/E ratio of 30.59, a P/E/G ratio of 1.25 and a beta of 1.48. 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 (NASDAQ:DXCM) last released its quarterly earnings results on Thursday, February 12th. The medical device company reported $0.68 earnings per share for the quarter, topping analysts’ consensus estimates of $0.65 by $0.03. The business had revenue of $1.26 billion during the quarter, compared to analysts’ expectations of $1.25 billion. DexCom had a return on equity of 32.12% and a net margin of 17.94%.The company’s revenue was up 13.1% compared to the same quarter last year. During the same period in the prior year, the business posted $0.45 EPS. Equities analysts expect that DexCom, Inc. will post 2.03 EPS for the current year.

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.