Banco BTG Pactual S.A. Buys Shares of 20,345 DexCom, Inc. $DXCM

Key Points

• Banco BTG Pactual disclosed a new fourth-quarter stake in DexCom, buying 20,345 shares valued at about $1.35 million.
• DexCom continues to draw heavy institutional interest, with funds such as Norges Bank, Vanguard, and others making sizable positions; 97.75% of the stock is owned by hedge funds and other institutions.
• The company reported better-than-expected Q1 results, including EPS of $0.56 versus $0.47 expected and revenue of $1.19 billion, while analysts currently rate the stock a Moderate Buy with an average price target of $84.29.

Banco BTG Pactual S.A. bought a new stake in DexCom, Inc. (NASDAQ:DXCM - Free Report) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 20,345 shares of the medical device company's stock, valued at approximately $1,350,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in DXCM. Norges Bank purchased a new position in DexCom in the 4th quarter valued at about $483,356,000. Holocene Advisors LP purchased a new position in DexCom in the 3rd quarter valued at about $163,964,000. CIBC Private Wealth Group LLC lifted its holdings in DexCom by 374.3% in the 3rd quarter. CIBC Private Wealth Group LLC now owns 2,907,801 shares of the medical device company's stock valued at $195,666,000 after purchasing an additional 2,294,709 shares in the last quarter. Vanguard Group Inc. lifted its holdings in DexCom by 2.3% in the 3rd quarter. Vanguard Group Inc. now owns 49,456,043 shares of the medical device company's stock valued at $3,327,897,000 after purchasing an additional 1,133,638 shares in the last quarter. Finally, Intermede Investment Partners Ltd purchased a new position in DexCom in the 4th quarter valued at about $60,351,000. 97.75% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at DexCom

In related news, EVP Jon Coleman sold 4,912 shares of the firm's stock in a transaction that occurred on Wednesday, June 3rd. The shares were sold at an average price of $73.00, for a total value of $358,576.00. Following the transaction, the executive vice president owned 100,361 shares in the company, valued at approximately $7,326,353. This trade represents a 4.67% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Kevin R. Sayer sold 26,759 shares of the firm's stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $72.00, for a total transaction of $1,926,648.00. Following the completion of the transaction, the insider owned 382,482 shares in the company, valued at $27,538,704. The trade was a 6.54% 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 90 days, insiders have sold 42,694 shares of company stock valued at $3,029,267. Insiders own 0.28% of the company's stock.

DexCom Trading Up 0.6%

Shares of DXCM stock opened at $75.25 on Friday. The firm has a market cap of $29.04 billion, a P/E ratio of 32.16, a PEG ratio of 1.17 and a beta of 1.45. DexCom, Inc. has a 1-year low of $54.11 and a 1-year high of $89.98. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.95 and a quick ratio of 1.64. The firm's 50-day simple moving average is $65.87 and its 200-day simple moving average is $67.50.

DexCom (NASDAQ:DXCM - Get Free Report) last announced its quarterly earnings data on Thursday, April 30th. The medical device company reported $0.56 earnings per share for the quarter, topping the consensus estimate of $0.47 by $0.09. The business had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.17 billion. DexCom had a net margin of 19.31% and a return on equity of 33.33%. The company's revenue was up 15.0% on a year-over-year basis. During the same period in the prior year, the firm posted $0.32 EPS. As a group, equities analysts forecast that DexCom, Inc. will post 2.58 EPS for the current year.

Analyst Ratings Changes

A number of research analysts have issued reports on DXCM shares. Evercore upgraded shares of DexCom from an "in-line" rating to an "outperform" rating and set a $90.00 target price on the stock in a report on Tuesday, March 24th. Stifel Nicolaus set a $90.00 target price on shares of DexCom and gave the company a "buy" rating in a report on Friday, June 5th. Benchmark started coverage on shares of DexCom in a report on Monday, May 11th. They issued a "buy" rating and a $77.00 target price on the stock. Wells Fargo & Company reduced their target price on shares of DexCom from $93.00 to $85.00 and set an "overweight" rating on the stock in a report on Friday, February 13th. Finally, Sanford C. Bernstein set a $77.00 price objective on shares of DexCom in a report on Friday, May 1st. Three investment analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $84.29.

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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