570,600 Shares in DexCom, Inc. $DXCM Acquired by Employees Retirement System of Texas

Key Points

• Employees Retirement System of Texas bought a new stake in DexCom, acquiring 570,600 shares valued at about $37.9 million in the fourth quarter. The fund now owns roughly 0.15% of the company.
• DexCom reported better-than-expected quarterly results, with earnings per share of $0.56 versus the $0.47 estimate and revenue of $1.19 billion versus $1.17 billion expected. Revenue also rose 15% year over year.
• Analysts remain broadly positive on DXCM, with a consensus rating of “Moderate Buy” and an average price target of $82.21. Recent insider selling and mixed rating revisions did not outweigh the overall bullish outlook.

Employees Retirement System of Texas purchased a new position in shares of DexCom, Inc. (NASDAQ:DXCM - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 570,600 shares of the medical device company's stock, valued at approximately $37,871,000. Employees Retirement System of Texas owned about 0.15% of DexCom as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Holocene Advisors LP acquired a new stake in shares of DexCom in the third quarter worth $163,964,000. CIBC Private Wealth Group LLC increased its position in shares of DexCom by 374.3% in the third quarter. CIBC Private Wealth Group LLC now owns 2,907,801 shares of the medical device company's stock worth $195,666,000 after acquiring an additional 2,294,709 shares in the last quarter. Vanguard Group Inc. increased its position in shares of DexCom by 2.3% in the third quarter. Vanguard Group Inc. now owns 49,456,043 shares of the medical device company's stock worth $3,327,897,000 after acquiring an additional 1,133,638 shares in the last quarter. Intermede Investment Partners Ltd acquired a new stake in shares of DexCom in the fourth quarter worth $60,351,000. Finally, Iron Triangle Partners LP acquired a new stake in shares of DexCom in the third quarter worth $57,196,000. Institutional investors and hedge funds own 97.75% of the company's stock.

DexCom Price Performance

Shares of DXCM stock opened at $72.01 on Wednesday. The company has a market capitalization of $27.79 billion, a PE ratio of 30.77, a price-to-earnings-growth ratio of 1.19 and a beta of 1.40. The firm has a fifty day simple moving average of $63.87 and a 200-day simple moving average of $66.18. The company has a current ratio of 1.95, a quick ratio of 1.64 and a debt-to-equity ratio of 0.42. DexCom, Inc. has a twelve month low of $54.11 and a twelve month high of $89.98.

DexCom (NASDAQ:DXCM - Get Free Report) last announced its earnings results on Thursday, April 30th. The medical device company reported $0.56 earnings per share for the quarter, beating the consensus estimate of $0.47 by $0.09. The business had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.17 billion. DexCom had a net margin of 19.31% and a return on equity of 33.33%. The business's quarterly revenue was up 15.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.32 earnings per share. Equities research analysts anticipate that DexCom, Inc. will post 2.57 earnings per share for the current fiscal year.

Insider Activity

In other news, EVP Michael Jon Brown sold 1,700 shares of the firm's stock in a transaction dated Wednesday, April 15th. The shares were sold at an average price of $63.04, for a total value of $107,168.00. Following the transaction, the executive vice president directly owned 111,204 shares in the company, valued at approximately $7,010,300.16. This trade represents a 1.51% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Bridgette P. Heller sold 1,012 shares of the stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $60.01, for a total transaction of $60,730.12. Following the completion of the sale, the director directly owned 25,007 shares in the company, valued at approximately $1,500,670.07. This trade represents a 3.89% 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. Over the last three months, insiders sold 32,871 shares of company stock worth $2,306,638. 0.28% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

DXCM has been the subject of several recent research reports. Benchmark initiated coverage on shares of DexCom in a research report on Monday, May 11th. They issued a "buy" rating and a $77.00 price objective for the company. TD Cowen dropped their price objective on shares of DexCom from $84.00 to $75.00 and set a "buy" rating for the company in a research report on Friday, May 1st. Canaccord Genuity Group set a $82.00 price objective on shares of DexCom and gave the stock a "buy" rating in a research report on Monday, May 18th. Piper Sandler reissued an "overweight" rating on shares of DexCom in a research report on Thursday, February 5th. Finally, Citigroup reissued a "buy" rating and issued a $79.00 price objective (down from $84.00) on shares of DexCom in a research report on Monday, May 4th. Three equities research analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $82.21.

DexCom 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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