California State Teachers Retirement System Boosts Stock Position in DexCom, Inc. $DXCM

Key Points

• CalSTRS increased its DexCom stake by 6,567.7% in the second quarter, adding 38.6 million shares to own roughly 10.38% of the company, valued at $2.64 billion. Institutional investors collectively hold 97.75% of DXCM.
• DexCom reported quarterly earnings of $0.70 per share, beating estimates of $0.61, while revenue rose 13.1% year over year to $1.31 billion. The stock opened at $84.51, up 0.8%, with a 52-week range of $54.11 to $92.59.
• Analysts maintain a “Moderate Buy” consensus rating, with an average price target of $88.71; targets range from $80 to $105. Company insiders have sold 65,777 shares worth approximately $4.95 million over the past 90 days.

California State Teachers Retirement System lifted its stake in shares of DexCom, Inc. (NASDAQ:DXCM - Free Report) by 6,567.7% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 39,176,552 shares of the medical device company's stock after acquiring an additional 38,588,991 shares during the quarter. California State Teachers Retirement System owned approximately 10.38% of DexCom worth $2,638,541,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Brighton Jones LLC boosted its position in shares of DexCom by 257.7% in the fourth quarter. Brighton Jones LLC now owns 16,582 shares of the medical device company's stock worth $1,290,000 after purchasing an additional 11,946 shares during the period. Integrated Wealth Concepts LLC raised its position in shares of DexCom by 6.3% during the 1st quarter. Integrated Wealth Concepts LLC now owns 3,329 shares of the medical device company's stock valued at $227,000 after purchasing an additional 196 shares during the period. Empowered Funds LLC raised its position in shares of DexCom by 5.4% during the 1st quarter. Empowered Funds LLC now owns 8,446 shares of the medical device company's stock valued at $577,000 after purchasing an additional 436 shares during the period. Focus Partners Wealth lifted its stake in shares of DexCom by 13.2% during the 1st quarter. Focus Partners Wealth now owns 7,218 shares of the medical device company's stock valued at $493,000 after buying an additional 841 shares in the last quarter. Finally, NewEdge Advisors LLC lifted its stake in shares of DexCom by 1.4% during the 2nd quarter. NewEdge Advisors LLC now owns 19,253 shares of the medical device company's stock valued at $1,681,000 after buying an additional 258 shares in the last quarter. 97.75% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at DexCom

In other DexCom news, EVP Michael Brown sold 1,700 shares of DexCom stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $75.55, for a total value of $128,435.00. Following the sale, the executive vice president owned 106,353 shares of the company's stock, valued at $8,034,969.15. The trade was a 1.57% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Sadie Stern sold 2,565 shares of the company's stock in a transaction that occurred on Thursday, August 27th. The stock was sold at an average price of $88.37, for a total value of $226,669.05. Following the sale, the executive vice president directly owned 126,043 shares in the company, valued at $11,138,419.91. This trade represents a 1.99% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 65,777 shares of company stock worth $4,950,714. 0.28% of the stock is owned by corporate insiders.

DexCom Stock Up 0.8%

DXCM opened at $84.51 on Friday. The company has a market capitalization of $31.89 billion, a PE ratio of 33.40, a price-to-earnings-growth ratio of 1.41 and a beta of 1.42. The firm has a 50-day simple moving average of $82.51 and a two-hundred day simple moving average of $72.73. The company has a quick ratio of 1.43, a current ratio of 1.73 and a debt-to-equity ratio of 0.47. DexCom, Inc. has a 52 week low of $54.11 and a 52 week 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 (EPS) for the quarter, topping the consensus estimate of $0.61 by $0.09. The firm had revenue of $1.31 billion for the quarter, compared to analysts' expectations of $1.29 billion. DexCom had a return on equity of 35.94% and a net margin of 20.12%.The business's revenue was up 13.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.48 earnings per share. Analysts forecast that DexCom, Inc. will post 2.64 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have recently commented on DXCM shares. Benchmark boosted their price objective on DexCom from $77.00 to $82.00 and gave the company a "buy" rating in a research report on Friday, July 31st. JPMorgan Chase & Co. lifted their target price on DexCom from $65.00 to $82.00 and gave the company a "neutral" rating in a research note on Friday, July 31st. Bank of America lowered their price target on DexCom from $100.00 to $80.00 and set a "buy" rating on the stock in a report on Monday, May 18th. Robert W. Baird set a $105.00 price target on DexCom in a research note on Friday, July 31st. Finally, Raymond James Financial reaffirmed a "strong-buy" rating and set a $94.00 price objective on shares of DexCom in a report on Friday, July 31st. Two investment analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $88.71.

DexCom Profile

DexCom, Inc develops and commercializes continuous glucose monitoring (CGM) systems that measure glucose levels in real time. Its technology is designed to help people with diabetes monitor glucose trends and make more informed treatment and lifestyle decisions without relying solely on traditional fingerstick testing.

The company's products include the Dexcom G7 and Dexcom G6 CGM systems, which use a small wearable sensor, transmitter or integrated sensor, and mobile applications to display glucose data.

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