VIRGINIA RETIREMENT SYSTEMS ET Al Purchases New Holdings in DexCom, Inc. $DXCM

VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in shares of DexCom, Inc. (NASDAQ:DXCM) in the second quarter, HoldingsChannel reports. The fund acquired 538,750 shares of the medical device company’s stock, valued at approximately $36,285,000.

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

Analyst Ratings Changes

DXCM has been the topic of several research analyst reports. Bank of America reduced their price target on shares of DexCom from $100.00 to $80.00 and set a “buy” rating on the stock in a research report on Monday, May 18th. BTIG Research reissued a “buy” rating and set a $90.00 price target (up from $80.00) on shares of DexCom in a report on Friday, July 31st. Argus increased their price objective on DexCom from $86.00 to $96.00 and gave the stock a “buy” rating in a report on Tuesday, August 4th. Piper Sandler reiterated an “overweight” rating and issued a $95.00 target price (up from $88.00) on shares of DexCom in a research report on Friday, July 31st. Finally, Stifel Nicolaus set a $95.00 price target on DexCom and gave the company a “buy” rating in a research report on Friday, July 31st. Two investment analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $88.71.

Insider Buying and Selling

In other DexCom news, Director Mark G. Foletta sold 2,000 shares of the firm’s stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $85.32, for a total value of $170,640.00. Following the sale, the director owned 48,852 shares of the company’s stock, valued at $4,168,052.64. This trade represents a 3.93% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Michael Brown sold 1,700 shares of the company’s stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $75.55, for a total value of $128,435.00. Following the transaction, the executive vice president owned 106,353 shares of the company’s stock, valued at approximately $8,034,969.15. This trade represents a 1.57% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 65,777 shares of company stock worth $4,950,714 over the last ninety days. Company insiders own 0.28% of the company’s stock.

DexCom Price Performance

Shares of DexCom stock opened at $87.90 on Tuesday. DexCom, Inc. has a 1 year low of $54.11 and a 1 year high of $92.59. The company has a current ratio of 1.73, a quick ratio of 1.43 and a debt-to-equity ratio of 0.47. The company has a market cap of $33.17 billion, a P/E ratio of 34.74, a P/E/G ratio of 1.47 and a beta of 1.42. The stock has a 50-day moving average price of $81.60 and a 200 day moving average price of $72.49.

DexCom (NASDAQ:DXCM) last posted its quarterly earnings results on Thursday, July 30th. The medical device company reported $0.70 EPS for the quarter, beating the consensus estimate 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%. DexCom’s revenue was up 13.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.48 EPS. As a group, analysts expect that DexCom, Inc. will post 2.64 EPS for the current fiscal year.

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.