13,744 Shares in DexCom, Inc. $DXCM Bought by Formula Growth Ltd.

Key Points

• Formula Growth Ltd. acquired 13,744 DexCom shares during the second quarter, valued at approximately $926,000. Institutional investors and hedge funds collectively own 97.75% of the company.
• Analysts maintain a generally positive view of DexCom, with a consensus rating of “Moderate Buy” and an average price target of $88.71; several firms recently raised their targets to between $90 and $95.
• DexCom reported quarterly earnings of $0.70 per share, exceeding estimates of $0.61, while revenue reached $1.31 billion and increased 13.1% year over year. Insiders, meanwhile, sold 73,035 shares worth approximately $5.45 million over the past 90 days.

Formula Growth Ltd. bought a new stake in DexCom, Inc. (NASDAQ:DXCM - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 13,744 shares of the medical device company's stock, valued at approximately $926,000.

Several other hedge funds and other institutional investors have also bought and sold shares of DXCM. Public Employees Retirement System of Ohio bought a new position in shares of DexCom in the 2nd quarter worth about $13,944,000. Corient Private Wealth LP bought a new stake in shares of DexCom during the 2nd quarter valued at about $8,400,000. Parallax Volatility Advisers L.P. bought a new stake in shares of DexCom during the 2nd quarter valued at about $231,000. Bamco Inc. NY bought a new stake in shares of DexCom during the 2nd quarter valued at about $16,501,000. Finally, Magnolia Capital Advisors LLC acquired a new stake in DexCom during the second quarter worth approximately $735,000. Institutional investors and hedge funds own 97.75% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on DXCM. Stifel Nicolaus set a $95.00 target price on DexCom and gave the stock a "buy" rating in a report on Friday, July 31st. Piper Sandler restated an "overweight" rating and set a $95.00 price target (up from $88.00) on shares of DexCom in a report on Friday, July 31st. JPMorgan Chase & Co. raised their price objective on shares of DexCom from $65.00 to $82.00 and gave the stock a "neutral" rating in a research report on Friday, July 31st. 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. Finally, Weiss Ratings upgraded shares of DexCom from a "hold (c-)" rating to a "hold (c)" rating in a research note on Tuesday, August 11th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $88.71.

Insider Transactions at DexCom

In other DexCom news, Director Mark G. Foletta sold 4,000 shares of the company's stock in a transaction on Monday, June 15th. The shares were sold at an average price of $74.13, for a total transaction of $296,520.00. Following the transaction, the director owned 52,852 shares in the company, valued at approximately $3,917,918.76. This represents a 7.04% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible 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 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 transaction, the insider owned 328,970 shares of the company's stock, valued at $25,106,990.40. This trade represents a 7.52% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 73,035 shares of company stock valued at $5,446,673 in the last 90 days. 0.28% of the stock is currently owned by company insiders.

DexCom Stock Performance

Shares of DexCom stock opened at $89.29 on Friday. DexCom, Inc. has a one year low of $54.11 and a one year high of $92.59. The firm has a market capitalization of $33.69 billion, a price-to-earnings ratio of 35.29, a PEG ratio of 1.50 and a beta of 1.41. The business has a 50-day simple moving average of $78.84 and a 200 day simple moving average of $71.47. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.73 and a quick ratio of 1.43.

DexCom (NASDAQ:DXCM - Get Free Report) last announced its quarterly earnings results on Thursday, July 30th. The medical device company reported $0.70 earnings per share (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 return on equity of 35.94% and a net margin of 20.12%.The company's quarterly revenue was up 13.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.48 earnings per share. On average, research analysts anticipate that DexCom, Inc. will post 2.64 earnings per share for the current fiscal year.

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.

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