Bridgewater Advisors Inc. Invests $1.08 Million in DexCom, Inc. $DXCM

Key Points

• Bridgewater Advisors purchased 12,347 DexCom shares worth approximately $1.08 million in the second quarter. Institutional investors collectively own 97.75% of the company.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $88.71; targets range from $64 to $96.
• DexCom exceeded quarterly expectations, reporting $0.70 in adjusted EPS versus $0.61 expected and $1.31 billion in revenue, up 13.1% year over year. The stock opened at $89.75, near its 12-month high of $91.96.

Bridgewater Advisors Inc. bought a new position in shares of DexCom, Inc. (NASDAQ:DXCM - Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 12,347 shares of the medical device company's stock, valued at approximately $1,077,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in DXCM. Norges Bank acquired a new stake in shares of DexCom during the 4th quarter worth approximately $483,356,000. AQR Capital Management LLC raised its stake in shares of DexCom by 597.8% in the fourth quarter. AQR Capital Management LLC now owns 3,102,789 shares of the medical device company's stock valued at $205,932,000 after purchasing an additional 2,658,158 shares in the last quarter. Employees Provident Fund Board acquired a new position in shares of DexCom in the fourth quarter valued at $145,352,000. J. Stern & Co. LLP lifted its position in DexCom by 2,114.8% in the fourth quarter. J. Stern & Co. LLP now owns 1,601,973 shares of the medical device company's stock worth $106,323,000 after purchasing an additional 1,529,641 shares during the period. Finally, SG Americas Securities LLC lifted its position in DexCom by 271.4% in the first quarter. SG Americas Securities LLC now owns 2,065,277 shares of the medical device company's stock worth $129,699,000 after purchasing an additional 1,509,219 shares during the period. 97.75% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on DXCM shares. TD Cowen reiterated a "buy" rating on shares of DexCom in a research note on Friday, July 31st. UBS Group set a $96.00 price objective on shares of DexCom and gave the company a "buy" rating in a research note on Tuesday, July 28th. Royal Bank Of Canada raised their price objective on shares of DexCom from $85.00 to $90.00 and gave the stock an "outperform" rating in a report on Friday, July 31st. Deutsche Bank Aktiengesellschaft began coverage on shares of DexCom in a research report on Tuesday, June 23rd. They set a "buy" rating and a $86.00 target price on the stock. Finally, Barclays reissued an "underweight" rating and issued a $64.00 price target (down from $67.00) on shares of DexCom in a research report on Monday, May 18th. Two research analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, three have given a Hold rating and one has issued 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 Stock Down 1.9%

DXCM opened at $89.75 on Friday. The firm has a market cap of $33.87 billion, a price-to-earnings ratio of 35.47, a PEG ratio of 1.51 and a beta of 1.41. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.43 and a current ratio of 1.73. The firm's 50-day simple moving average is $76.08 and its 200-day simple moving average is $70.36. DexCom, Inc. has a twelve month low of $54.11 and a twelve month high of $91.96.

DexCom (NASDAQ:DXCM - Get Free Report) last released its quarterly earnings results on Thursday, July 30th. The medical device company reported $0.70 EPS for the quarter, beating analysts' consensus estimates of $0.61 by $0.09. The firm had revenue of $1.31 billion for the quarter, compared to analyst estimates of $1.29 billion. DexCom had a net margin of 20.12% and a return on equity of 35.94%. The company's revenue for the quarter was up 13.1% compared to the same quarter last year. During the same period in the previous year, the business earned $0.48 earnings per share. Equities research analysts anticipate that DexCom, Inc. will post 2.64 EPS for the current fiscal year.

Insiders Place Their Bets

In other DexCom news, insider Kevin R. Sayer sold 26,759 shares of the business's stock in a transaction on Thursday, May 21st. The stock was sold at an average price of $72.00, for a total value of $1,926,648.00. Following the transaction, the insider owned 382,482 shares of the company's stock, valued at approximately $27,538,704. The trade was a 6.54% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Jon Coleman sold 4,912 shares of the business's stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $73.00, for a total value of $358,576.00. Following the completion of the transaction, the executive vice president directly owned 100,361 shares in the company, valued at approximately $7,326,353. This represents a 4.67% 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 sold 99,794 shares of company stock valued at $7,373,321 over the last quarter. 0.28% of the stock is owned by insiders.

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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