Plato Investment Management Ltd Makes New $782,000 Investment in DexCom, Inc. $DXCM

Plato Investment Management Ltd purchased a new stake in shares of DexCom, Inc. (NASDAQ:DXCM) during the 2nd quarter, HoldingsChannel reports. The firm purchased 11,681 shares of the medical device company’s stock, valued at approximately $782,000.

Other hedge funds have also modified their holdings of the company. Norges Bank purchased a new position in shares of DexCom in the fourth quarter worth about $483,356,000. AQR Capital Management LLC boosted its position in DexCom by 597.8% in the fourth quarter. AQR Capital Management LLC now owns 3,102,789 shares of the medical device company’s stock valued at $205,932,000 after buying an additional 2,658,158 shares during the last quarter. Employees Provident Fund Board acquired a new position in DexCom in the 4th quarter worth approximately $145,352,000. J. Stern & Co. LLP increased its holdings in DexCom by 2,114.8% in the 4th quarter. J. Stern & Co. LLP now owns 1,601,973 shares of the medical device company’s stock worth $106,323,000 after buying an additional 1,529,641 shares during the period. Finally, SG Americas Securities LLC raised its position in DexCom by 271.4% during the 1st quarter. SG Americas Securities LLC now owns 2,065,277 shares of the medical device company’s stock worth $129,699,000 after buying an additional 1,509,219 shares during the last quarter. 97.75% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

DXCM has been the subject of several research reports. Piper Sandler restated an “overweight” rating and set a $95.00 price objective (up from $88.00) on shares of DexCom in a research note on Friday, July 31st. TD Cowen reiterated a “buy” rating on shares of DexCom in a research note on Friday, July 31st. Mizuho raised their target price on shares of DexCom from $90.00 to $95.00 and gave the stock an “outperform” rating in a report on Friday, July 31st. Bank of America decreased their target price on shares of DexCom from $100.00 to $80.00 and set a “buy” rating for the company in a research report on Monday, May 18th. Finally, UBS Group set a $96.00 price target on shares of DexCom and gave the company a “buy” rating in a report on Tuesday, July 28th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $88.71.

DexCom Trading Up 0.9%

Shares of NASDAQ:DXCM opened at $89.60 on Wednesday. The company has a current ratio of 1.73, a quick ratio of 1.43 and a debt-to-equity ratio of 0.47. DexCom, Inc. has a 12-month low of $54.11 and a 12-month high of $91.96. The business has a 50 day moving average of $76.55 and a two-hundred day moving average of $70.56. The company has a market capitalization of $33.81 billion, a PE ratio of 35.42, a PEG ratio of 1.51 and a beta of 1.41.

DexCom (NASDAQ:DXCM) last issued its quarterly earnings data on Thursday, July 30th. The medical device company reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.61 by $0.09. The business had revenue of $1.31 billion for the quarter, compared to analysts’ expectations of $1.29 billion. DexCom had a net margin of 20.12% and a return on equity of 35.94%. The business’s revenue was up 13.1% on a year-over-year basis. During the same quarter last year, the company earned $0.48 EPS. As a group, analysts forecast that DexCom, Inc. will post 2.64 EPS for the current year.

Insider Activity

In other DexCom news, EVP Jon Coleman sold 4,911 shares of the company’s stock in a transaction dated Thursday, June 4th. The shares were sold at an average price of $74.13, for a total value of $364,052.43. Following the completion of the transaction, the executive vice president owned 95,450 shares in the company, valued at approximately $7,075,708.50. This represents a 4.89% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Michael Jon Brown sold 1,700 shares of the stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $75.55, for a total transaction of $128,435.00. Following the sale, the executive vice president directly owned 106,353 shares in the company, valued at approximately $8,034,969.15. The trade was a 1.57% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 99,794 shares of company stock valued at $7,373,321. 0.28% of the stock is currently owned by corporate insiders.

DexCom Company Profile

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.