Entropy Technologies LP Purchases New Holdings in DexCom, Inc. (NASDAQ:DXCM)

Entropy Technologies LP acquired a new stake in shares of DexCom, Inc. (NASDAQ:DXCM) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 51,914 shares of the medical device company’s stock, valued at approximately $3,480,000.

A number of other hedge funds also recently added to or reduced their stakes in DXCM. Canada Pension Plan Investment Board increased its stake in DexCom by 189.1% in the 2nd quarter. Canada Pension Plan Investment Board now owns 665,646 shares of the medical device company’s stock valued at $75,471,000 after buying an additional 435,401 shares during the period. Massachusetts Financial Services Co. MA raised its holdings in DexCom by 16.9% during the second quarter. Massachusetts Financial Services Co. MA now owns 2,439,033 shares of the medical device company’s stock worth $276,538,000 after purchasing an additional 353,019 shares in the last quarter. Assenagon Asset Management S.A. raised its holdings in DexCom by 53.5% during the third quarter. Assenagon Asset Management S.A. now owns 989,740 shares of the medical device company’s stock worth $66,352,000 after purchasing an additional 345,114 shares in the last quarter. Bellevue Group AG lifted its position in DexCom by 33.5% in the first quarter. Bellevue Group AG now owns 1,221,197 shares of the medical device company’s stock valued at $169,380,000 after purchasing an additional 306,604 shares during the period. Finally, Magnetar Financial LLC purchased a new stake in DexCom in the 2nd quarter valued at approximately $31,793,000. 97.75% of the stock is owned by institutional investors and hedge funds.

DexCom Price Performance

Shares of NASDAQ DXCM opened at $70.31 on Tuesday. The company has a market capitalization of $27.46 billion, a price-to-earnings ratio of 42.10, a PEG ratio of 2.15 and a beta of 1.17. The company has a debt-to-equity ratio of 1.23, a current ratio of 2.46 and a quick ratio of 2.12. DexCom, Inc. has a 1-year low of $62.34 and a 1-year high of $142.00. The business has a 50-day moving average of $69.66 and a 200-day moving average of $93.10.

Analyst Ratings Changes

A number of brokerages have recently issued reports on DXCM. Stifel Nicolaus increased their target price on DexCom from $90.00 to $100.00 and gave the stock a “buy” rating in a research note on Friday, August 23rd. Royal Bank of Canada reduced their target price on DexCom from $120.00 to $115.00 and set an “outperform” rating for the company in a report on Friday, October 25th. Canaccord Genuity Group restated a “buy” rating and set a $145.00 target price on shares of DexCom in a research report on Tuesday, July 23rd. Piper Sandler reiterated an “overweight” rating and issued a $90.00 price target on shares of DexCom in a report on Monday, August 26th. Finally, BTIG Research reduced their price objective on shares of DexCom from $156.00 to $120.00 and set a “buy” rating for the company in a research note on Friday, July 26th. Seven research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, DexCom currently has an average rating of “Moderate Buy” and an average price target of $104.59.

Insider Activity

In other news, COO Jacob Steven Leach sold 746 shares of the stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $69.15, for a total transaction of $51,585.90. Following the completion of the transaction, the chief operating officer now directly owns 264,915 shares in the company, valued at approximately $18,318,872.25. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, EVP Sadie Stern sold 426 shares of the stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $69.15, for a total transaction of $29,457.90. Following the sale, the executive vice president now directly owns 75,451 shares in the company, valued at approximately $5,217,436.65. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Jacob Steven Leach sold 746 shares of the stock in a transaction on Monday, September 9th. The stock was sold at an average price of $69.15, for a total value of $51,585.90. Following the completion of the sale, the chief operating officer now directly owns 264,915 shares in the company, valued at $18,318,872.25. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.30% of the company’s stock.

DexCom Profile

DexCom, Inc, a medical device company, focuses on the design, development, and commercialization of continuous glucose monitoring (CGM) systems in the United States and internationally. The company provides its systems for use by people with diabetes, as well as for use by healthcare providers. Its products include Dexcom G6 and Dexcom G7, integrated CGM systems for diabetes management; Dexcom Share, a remote monitoring system; Dexcom Real-Time API, which enables authorized third-party software developers to integrate real-time CGM data into their digital health apps and devices; and Dexcom ONE, that is designed to replace finger stick blood glucose testing for diabetes treatment decisions.