Saudi Central Bank Boosts Holdings in DexCom, Inc. $DXCM

Saudi Central Bank increased its position in DexCom, Inc. (NASDAQ:DXCM) by 87.1% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 26,941 shares of the medical device company’s stock after purchasing an additional 12,545 shares during the period. Saudi Central Bank’s holdings in DexCom were worth $1,814,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of DXCM. Reflection Asset Management bought a new position in shares of DexCom in the fourth quarter worth approximately $25,000. Ascentis Independent Advisors purchased a new position in DexCom in the 1st quarter worth approximately $25,000. MCF Advisors LLC bought a new position in DexCom in the 4th quarter valued at approximately $32,000. Wellington Grp LLC boosted its stake in DexCom by 778.7% during the 1st quarter. Wellington Grp LLC now owns 536 shares of the medical device company’s stock valued at $34,000 after purchasing an additional 475 shares during the last quarter. Finally, DV Equities LLC bought a new stake in shares of DexCom in the 4th quarter worth $36,000. 97.75% of the stock is currently owned by institutional investors.

Insider Activity

In related news, EVP Michael Brown sold 1,700 shares of the company’s stock in a transaction on Monday, June 15th. The shares were sold at an average price of $75.55, for a total value of $128,435.00. Following the completion of the transaction, the executive vice president owned 106,353 shares of the company’s stock, valued at approximately $8,034,969.15. This represents a 1.57% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Kevin Sayer sold 26,756 shares of the firm’s stock in a transaction dated Monday, July 20th. The shares were sold at an average price of $76.32, for a total value of $2,042,017.92. Following the sale, the insider directly owned 328,970 shares in the company, valued at approximately $25,106,990.40. This represents a 7.52% 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 90 days, insiders sold 65,777 shares of company stock valued at $4,950,714. 0.28% of the stock is owned by insiders.

DexCom Trading Down 3.8%

Shares of DexCom stock opened at $84.53 on Wednesday. DexCom, Inc. has a 1-year low of $54.11 and a 1-year high of $92.59. The company’s fifty day simple moving average is $81.95 and its 200-day simple moving average is $72.57. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.73 and a quick ratio of 1.43. The stock has a market capitalization of $31.90 billion, a PE ratio of 33.41, a P/E/G ratio of 1.47 and a beta of 1.42.

DexCom (NASDAQ:DXCM) last posted 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. DexCom had a return on equity of 35.94% and a net margin of 20.12%.The firm had revenue of $1.31 billion during the quarter, compared to analyst estimates of $1.29 billion. During the same period in the prior year, the business posted $0.48 EPS. DexCom’s revenue was up 13.1% on a year-over-year basis. As a group, equities analysts anticipate that DexCom, Inc. will post 2.64 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on DXCM. Deutsche Bank Aktiengesellschaft began coverage on DexCom in a report on Tuesday, June 23rd. They set a “buy” rating and a $86.00 price target on the stock. Citigroup restated a “buy” rating and set a $88.00 target price (up from $84.00) on shares of DexCom in a research note on Friday, July 31st. Mizuho boosted their price objective on shares of DexCom from $90.00 to $95.00 and gave the company an “outperform” rating in a report on Friday, July 31st. Weiss Ratings upgraded shares of DexCom from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday, August 11th. Finally, Royal Bank Of Canada lifted their target price on shares of DexCom from $85.00 to $90.00 and gave the stock an “outperform” rating in a research report on Friday, July 31st. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $88.71.

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.