Caisse de depot et placement du Quebec Invests $10.18 Million in DexCom, Inc. $DXCM

Key Points

• Caisse de dépôt et placement du Québec purchased 151,149 DexCom shares worth approximately $10.18 million in the second quarter. Other institutions also initiated positions, and institutional investors now own 97.75% of the company.
• Analysts remain broadly positive on DexCom, with a consensus rating of “Moderate Buy” and an average price target of $88.71; several firms recently raised targets or reiterated buy-equivalent ratings.
• DexCom exceeded quarterly expectations, reporting adjusted EPS of $0.70 versus $0.61 expected and revenue of $1.31 billion. Revenue increased 13.1% year over year, while insiders sold 75,600 shares worth $5.67 million over the past three months.

Caisse de depot et placement du Quebec purchased a new position in shares of DexCom, Inc. (NASDAQ:DXCM - Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 151,149 shares of the medical device company's stock, valued at approximately $10,180,000.

Other hedge funds also recently bought and sold shares of the company. Man Group plc purchased a new stake in DexCom in the second quarter worth $26,566,000. Polar Asset Management Partners Inc. purchased a new position in DexCom in the 2nd quarter worth about $216,000. Jupiter Topco LLC bought a new stake in DexCom during the 2nd quarter valued at about $76,696,000. EFG International AG bought a new stake in DexCom during the 2nd quarter valued at about $889,000. Finally, Ancora Advisors LLC purchased a new stake in DexCom in the 2nd quarter valued at about $66,000. Institutional investors own 97.75% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on DXCM shares. Stifel Nicolaus set a $95.00 price target on shares of DexCom and gave the company a "buy" rating in a research note on Friday, July 31st. Citigroup restated a "buy" rating and set a $88.00 price objective (up from $84.00) on shares of DexCom in a report on Friday, July 31st. Royal Bank Of Canada lifted their target price on DexCom from $85.00 to $90.00 and gave the company an "outperform" rating in a research report on Friday, July 31st. Weiss Ratings upgraded DexCom from a "hold (c-)" rating to a "hold (c)" rating in a report on Tuesday, August 11th. Finally, Truist Financial set a $93.00 price target on DexCom and gave the stock a "buy" rating in a research report on Friday, July 31st. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, DexCom has an average rating of "Moderate Buy" and a consensus target price of $88.71.

Insiders Place Their Bets

In related news, EVP Sadie Stern sold 2,565 shares of the company's stock in a transaction on Thursday, August 27th. The stock was sold at an average price of $88.37, for a total transaction of $226,669.05. Following the completion of the sale, the executive vice president directly owned 126,043 shares in the company, valued at $11,138,419.91. This represents a 1.99% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. 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 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 sale, the insider directly owned 328,970 shares in the company, valued at approximately $25,106,990.40. The trade was 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. In the last three months, insiders sold 75,600 shares of company stock worth $5,673,342. Insiders own 0.28% of the company's stock.

DexCom Price Performance

NASDAQ DXCM opened at $90.82 on Friday. 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 moving average price is $79.21 and its 200-day moving average price is $71.60. DexCom, Inc. has a 52-week low of $54.11 and a 52-week high of $92.59. The company has a market cap of $34.27 billion, a PE ratio of 35.90, a P/E/G ratio of 1.53 and a beta of 1.41.

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

About DexCom

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.

Want to see what other hedge funds are holding DXCM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for DexCom, Inc. (NASDAQ:DXCM - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source