California Public Employees Retirement System Raises Stock Position in DexCom, Inc. $DXCM

Key Points

• CalPERS increased its stake in DexCom by 21.3% in the first quarter, buying an additional 111,931 shares and bringing its total holding to 637,344 shares valued at about $40 million.
• DexCom reported solid quarterly results, posting earnings of $0.56 per share versus estimates of $0.47 and revenue of $1.19 billion, which was also above expectations and up 15% year over year.
• Analysts remain mostly positive on DXCM, with the stock carrying a consensus “Moderate Buy” rating and an average price target of $85.36, while several firms recently raised or reiterated bullish price targets.

California Public Employees Retirement System boosted its stake in DexCom, Inc. (NASDAQ:DXCM - Free Report) by 21.3% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 637,344 shares of the medical device company's stock after purchasing an additional 111,931 shares during the period. California Public Employees Retirement System owned approximately 0.17% of DexCom worth $40,025,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in DXCM. Reflection Asset Management bought a new stake in shares of DexCom in the fourth quarter worth $25,000. Ascentis Independent Advisors purchased a new position in DexCom in the first quarter worth about $25,000. CVA Family Office LLC grew its stake in shares of DexCom by 48.5% during the 4th quarter. CVA Family Office LLC now owns 450 shares of the medical device company's stock valued at $30,000 after purchasing an additional 147 shares during the period. MCF Advisors LLC purchased a new stake in shares of DexCom during the 4th quarter valued at about $32,000. Finally, ORG Partners LLC increased its position in shares of DexCom by 124.3% during the 4th quarter. ORG Partners LLC now owns 507 shares of the medical device company's stock valued at $34,000 after purchasing an additional 281 shares during the last quarter. 97.75% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at DexCom

In other DexCom news, Director Mark G. Foletta sold 4,000 shares of the firm's stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $74.13, for a total transaction of $296,520.00. Following the completion of the transaction, the director owned 52,852 shares in the company, valued at $3,917,918.76. This trade represents a 7.04% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Bridgette P. Heller sold 1,012 shares of DexCom stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $60.01, for a total value 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. The trade was a 3.89% 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 71,750 shares of company stock valued at $5,163,241 in the last 90 days. 0.28% of the stock is currently owned by insiders.

DexCom Stock Performance

DXCM opened at $75.69 on Tuesday. The stock has a market capitalization of $29.21 billion, a price-to-earnings ratio of 32.35, a PEG ratio of 1.26 and a beta of 1.45. The company has a fifty day moving average of $71.48 and a 200 day moving average of $68.80. DexCom, Inc. has a fifty-two week low of $54.11 and a fifty-two week high of $89.98. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.64 and a current ratio of 1.95.

DexCom (NASDAQ:DXCM - Get Free Report) last issued its quarterly earnings data on Thursday, April 30th. The medical device company reported $0.56 earnings per share for the quarter, beating analysts' consensus estimates of $0.47 by $0.09. DexCom had a return on equity of 33.33% and a net margin of 19.31%.The firm had revenue of $1.19 billion during the quarter, compared to analyst estimates of $1.17 billion. During the same quarter last year, the business posted $0.32 earnings per share. The business's quarterly revenue was up 15.0% compared to the same quarter last year. As a group, sell-side analysts forecast that DexCom, Inc. will post 2.57 earnings per share for the current fiscal year.

Analysts Set New Price Targets

DXCM has been the topic of several recent research reports. Evercore upgraded shares of DexCom from an "in-line" rating to an "outperform" rating and set a $90.00 price objective on the stock in a research note on Tuesday, March 24th. Bank of America decreased their price target on shares of DexCom from $100.00 to $80.00 and set a "buy" rating on the stock in a research report on Monday, May 18th. Robert W. Baird set a $80.00 price objective on shares of DexCom in a research report on Friday, May 1st. Piper Sandler restated an "overweight" rating and issued a $88.00 price objective (up from $75.00) on shares of DexCom in a research note on Monday, June 15th. Finally, Truist Financial raised their target price on DexCom from $80.00 to $87.00 and gave the stock a "buy" rating in a report on Thursday, July 16th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $85.36.

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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