Bamco Inc. NY Purchases Shares of 245,000 DexCom, Inc. $DXCM

Key Points

• Bamco Inc. NY acquired 245,000 DexCom shares worth approximately $16.5 million, representing about 0.06% of the company. Institutional investors collectively own 97.75% of DexCom.
• DexCom reported quarterly EPS of $0.70, exceeding the $0.61 analyst consensus, while revenue rose 13.1% year over year to $1.31 billion. Insiders, however, sold 73,035 shares worth $5.45 million over the past three months.
• Analysts remain broadly positive, with a consensus “Moderate Buy” rating and an average price target of $88.71; recent targets range as high as $105.00.

Bamco Inc. NY acquired a new position in shares of DexCom, Inc. (NASDAQ:DXCM - Free Report) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 245,000 shares of the medical device company's stock, valued at approximately $16,501,000. Bamco Inc. NY owned about 0.06% of DexCom at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of DXCM. Reflection Asset Management bought a new stake in DexCom in the fourth quarter valued at approximately $25,000. Ascentis Independent Advisors bought a new position in shares of DexCom during the 1st quarter worth approximately $25,000. MCF Advisors LLC bought a new position in shares of DexCom during the 4th quarter worth approximately $32,000. Wellington Grp LLC increased its holdings in shares of DexCom by 778.7% during the 1st quarter. Wellington Grp LLC now owns 536 shares of the medical device company's stock worth $34,000 after acquiring an additional 475 shares during the last quarter. Finally, DV Equities LLC acquired a new position in shares of DexCom during the 4th quarter worth approximately $36,000. Institutional investors own 97.75% of the company's stock.

Insiders Place Their Bets

In related news, EVP Michael Jon Brown sold 1,700 shares of the company's stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $75.55, for a total transaction of $128,435.00. Following the completion of the transaction, the executive vice president directly owned 106,353 shares in the company, valued at $8,034,969.15. This represents a 1.57% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available 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 the firm's stock in a transaction that occurred on Monday, July 20th. The shares were sold at an average price of $76.32, for a total transaction of $2,042,017.92. Following the completion of the sale, the insider owned 328,970 shares in the company, valued at $25,106,990.40. This represents a 7.52% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 73,035 shares of company stock worth $5,446,673. Insiders own 0.28% of the company's stock.

DexCom Stock Performance

Shares of NASDAQ:DXCM opened at $89.29 on Friday. The company's 50 day simple moving average is $78.84 and its 200 day simple moving average is $71.47. The stock has a market capitalization of $33.69 billion, a price-to-earnings ratio of 35.29, a price-to-earnings-growth ratio of 1.50 and a beta of 1.41. 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, Inc. has a 1 year low of $54.11 and a 1 year high of $92.59.

DexCom (NASDAQ:DXCM - Get Free Report) last issued its earnings results on Thursday, July 30th. The medical device company reported $0.70 earnings per share for the quarter, beating analysts' consensus estimates 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 for the quarter, compared to the consensus estimate of $1.29 billion. During the same quarter last year, the business posted $0.48 EPS. The company's revenue was up 13.1% compared to the same quarter last year. As a group, research analysts predict that DexCom, Inc. will post 2.64 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. Robert W. Baird set a $105.00 target price on DexCom in a research report on Friday, July 31st. Argus boosted their price target on DexCom from $86.00 to $96.00 and gave the company a "buy" rating in a research note on Tuesday, August 4th. TD Cowen reaffirmed a "buy" rating on shares of DexCom in a report on Friday, July 31st. Citigroup reiterated a "buy" rating and set a $88.00 price objective (up from $84.00) on shares of DexCom in a research report on Friday, July 31st. Finally, Royal Bank Of Canada lifted their target price on DexCom from $85.00 to $90.00 and gave the stock an "outperform" rating in a report on Friday, July 31st. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $88.71.

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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