The Future of DexCom, Inc Leave a comment
The world of medical device manufacturing is one that demands constant innovation, and DexCom, Inc. (NASDAQ:DXCM) is at the forefront of this field. With a focus on glucose monitoring systems for people with diabetes, DexCom has developed a reputation for producing high-quality products that change lives.
Recently, investment firm Picton Mahoney Asset Management made news by cutting its holdings in DXCM shares by 4.3%. This move caused some consternation among investors who were closely watching this market leader’s stock performance.
While it may seem unusual for a major investment firm to reduce its stake in such an innovative company, there are many reasons why Picton Mahoney Asset Management might have felt that this was the right decision for its investors. Perhaps they see other options that are more promising than DexCom moving forward, or believe that the company’s recent price run-up isn’t sustainable.
Nonetheless, it’s important to remember that for many people with diabetes, the technology produced by DexCom means an improved quality of life. The company’s sophisticated glucose monitoring systems make it possible to track blood sugar levels more accurately and without the need for invasive needles.
It is clear from the data provided by Exchanges Commission (SEC) filings that Picton Mahoney Asset Management continues to hold a significant stake in DexCom; even after selling 1,760 shares during Q4 2020. By owning over $4 million worth of shares at the end of last year, Picton Mahoney Asset Management still sees value in this healthcare technology leader.
For those who believe in the limitless potential of medical device companies like DexCom and want to invest in their future success- great opportunities await them in prognosticating which new technological ventures will take shape!
DXCM
Strong Buy
Updated on: 04/06/2023
Price Target
Current $122.57
Concensus $70.33
Low $28.13
Median $40.94
High $146.00
Social Sentiments
We did not find social sentiment data for this stock
Analyst Ratings
| Analyst / firm | Rating |
|---|---|
| Morgan Stanley | Buy |
| Stifel Stifel Stifel Nicolaus |
Buy |
| Citigroup | Buy |
| Matt O’Brien Piper Sandler |
Sell |
| Raymond James | Sell |
DexCom Inc. Reports Strong Q1 Earnings and Positive Investor Sentiment Amid Insider Transactions
DexCom, Inc. is a medical device manufacturing company that specializes in the design, development, and commercialization of glucose monitoring systems for ambulatory use by people with diabetes. The company’s products include Dexcom G6 CGM System, DexCom G6 CGM System for Medicare, Software and Mobile apps.
Over the past few weeks, several other hedge funds have added to or reduced their stakes in the business alongside institutional investors. Vanguard Group Inc., Jennison Associates LLC, Geode Capital Management LLC, Blair William & Co. IL and Artisan Partners Limited Partnership all increased their exposure to DexCom last quarter through purchasing additional shares of its stock.
Furthermore, many analysts on Wall Street have rated DexCom as a “Moderate Buy” based on the firm’s recent fiscal performance. According to data from Bloomberg, consensus estimates suggest that the company will post an earnings per share (EPS) value of $1.06 for 2021.
The medical device company reported $0.17 earnings per share (EPS) in Q1 2021- beating consensus estimates by $0.02 and had revenue of $7.45 billion during that period compared to analysts’ expectations of $720.52 million. The company saw 1085% YoY revenue growth during this quarter.
The firm has recently been involved in insider selling transactions; CFO Jereme M. Sylvain sold 2,400 shares of the stock at an average price of $117.58 and Matthew Vincent Dolan sold 226 shares of the firm’s stock at an average price of $114.40 over Q1 2021.
Despite this news regarding insider transactions which may be viewed as bearish signals by some investors,and despite the market volatility witnessed due to COVID-19 pandemic ,As a group equities research analysts predict that DXCM will continue trading positively with positive sentiment from Wall Street analysts , along with consenus estimates for revenue growth in future quarters.
