Corient Private Wealth LP Takes Position in DexCom, Inc. $DXCM

Corient Private Wealth LP bought a new stake in shares of DexCom, Inc. (NASDAQ:DXCM) during the 2nd quarter, HoldingsChannel.com reports. The fund bought 124,723 shares of the medical device company’s stock, valued at approximately $8,400,000.

Several other institutional investors have also bought and sold shares of DXCM. Plato Investment Management Ltd purchased a new stake in shares of DexCom in the second quarter valued at about $782,000. BOKF NA boosted its holdings in DexCom by 175.7% during the fourth quarter. BOKF NA now owns 35,314 shares of the medical device company’s stock worth $2,344,000 after purchasing an additional 22,505 shares during the last quarter. Stephens Investment Management Group LLC boosted its holdings in DexCom by 21.1% during the fourth quarter. Stephens Investment Management Group LLC now owns 1,042,801 shares of the medical device company’s stock worth $69,211,000 after purchasing an additional 181,701 shares during the last quarter. Eurizon Capital SGR S.p.A. bought a new stake in DexCom in the 4th quarter worth about $3,231,000. Finally, Goodman Advisory Group LLC bought a new stake in DexCom in the 4th quarter worth about $1,293,000. Institutional investors own 97.75% of the company’s stock.

DexCom Stock Performance

NASDAQ DXCM opened at $90.82 on Monday. DexCom, Inc. has a 52-week low of $54.11 and a 52-week high of $92.59. The company has a 50-day simple moving average of $79.21 and a 200 day simple moving average of $71.61. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.43 and a current ratio of 1.73. The company has a market capitalization of $34.27 billion, a PE ratio of 35.90, a price-to-earnings-growth ratio of 1.53 and a beta of 1.41.

DexCom (NASDAQ:DXCM) last announced its quarterly earnings data on Thursday, July 30th. The medical device company reported $0.70 EPS for the quarter, topping the consensus estimate of $0.61 by $0.09. The business had revenue of $1.31 billion for the quarter, compared to analyst estimates of $1.29 billion. DexCom had a net margin of 20.12% and a return on equity of 35.94%. The company’s revenue for the quarter was up 13.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.48 earnings per share. On average, research analysts predict that DexCom, Inc. will post 2.64 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have commented on DXCM shares. BTIG Research reiterated a “buy” rating and issued a $90.00 price objective (up from $80.00) on shares of DexCom in a research note on Friday, July 31st. Argus boosted their target price on DexCom from $86.00 to $96.00 and gave the stock a “buy” rating in a research note on Tuesday, August 4th. Royal Bank Of Canada upped their target price on DexCom from $85.00 to $90.00 and gave the company an “outperform” rating in a report on Friday, July 31st. UBS Group set a $96.00 price target on DexCom and gave the company a “buy” rating in a research report on Tuesday, July 28th. Finally, TD Cowen reiterated a “buy” rating on shares of DexCom in a report on Friday, July 31st. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $88.71.

Insider Activity at DexCom

In related news, EVP Jon Coleman sold 4,911 shares of DexCom stock in a transaction that occurred on Thursday, June 4th. The shares were sold at an average price of $74.13, for a total value of $364,052.43. Following the sale, the executive vice president owned 95,450 shares of the company’s stock, valued at approximately $7,075,708.50. The trade was a 4.89% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Kevin R. Sayer sold 26,756 shares of DexCom stock in a transaction that occurred on Monday, July 20th. The stock was sold at an average price of $76.32, for a total transaction of $2,042,017.92. Following the completion of the sale, the insider directly owned 328,970 shares in the company, valued at $25,106,990.40. This trade represents a 7.52% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 75,600 shares of company stock worth $5,673,342 over the last 90 days. Corporate insiders own 0.28% of the company’s stock.

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.