Corient Private Wealth LP Buys New Position in DexCom, Inc. $DXCM

Key Points

• Corient Private Wealth initiated a position in DexCom, buying 124,723 shares worth approximately $8.4 million. Institutional investors collectively own 97.75% of the company.
• DexCom insiders sold 75,600 shares valued at about $5.67 million over the past quarter, while insiders retain just 0.28% of the company’s stock.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and an $88.71 price target. DexCom also exceeded quarterly expectations, reporting $0.70 in EPS and $1.31 billion in revenue, up 13.1% year over year.

Corient Private Wealth LP purchased a new position in DexCom, Inc. (NASDAQ:DXCM - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 124,723 shares of the medical device company's stock, valued at approximately $8,400,000.

Other institutional investors also recently modified their holdings of the company. Reflection Asset Management bought a new position in DexCom during the fourth quarter worth $25,000. Ascentis Independent Advisors bought a new stake in DexCom during the first quarter valued at $25,000. MCF Advisors LLC bought a new stake in DexCom during the fourth quarter valued at $32,000. Wellington Grp LLC grew its holdings in DexCom by 778.7% during the 1st quarter. Wellington Grp LLC now owns 536 shares of the medical device company's stock worth $34,000 after acquiring an additional 475 shares during the period. Finally, DV Equities LLC acquired a new stake in DexCom during the 4th quarter worth about $36,000. 97.75% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, insider Kevin R. Sayer sold 26,756 shares of DexCom stock in a transaction on 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 completion of the sale, the insider owned 328,970 shares of the company's stock, valued at approximately $25,106,990.40. This trade represents a 7.52% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Mark G. Foletta sold 4,000 shares of the business's stock in a transaction on Monday, June 15th. The shares were sold at an average price of $74.13, for a total transaction of $296,520.00. Following the sale, the director owned 52,852 shares of the company's stock, valued at $3,917,918.76. This trade represents a 7.04% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 75,600 shares of company stock worth $5,673,342 over the last quarter. Corporate insiders own 0.28% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports 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 note on Friday, July 31st. Canaccord Genuity Group set a $90.00 target price on DexCom and gave the stock a "buy" rating in a research note on Monday, August 3rd. TD Cowen reiterated a "buy" rating on shares of DexCom in a report on Friday, July 31st. UBS Group set a $96.00 price target on DexCom and gave the company a "buy" rating in a research note on Tuesday, July 28th. Finally, Weiss Ratings raised DexCom from a "hold (c-)" rating to a "hold (c)" rating in a research note on Tuesday, August 11th. Two analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $88.71.

DexCom Price Performance

DXCM stock opened at $90.82 on Monday. The stock's 50 day simple moving average is $79.21 and its 200 day simple moving average is $71.61. The company has a market cap of $34.27 billion, a P/E ratio of 35.90, a price-to-earnings-growth ratio of 1.53 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. DexCom, Inc. has a fifty-two week low of $54.11 and a fifty-two week high of $92.59.

DexCom (NASDAQ:DXCM - Get Free Report) last announced its quarterly earnings data 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 during 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 company's revenue for the quarter was up 13.1% compared to the same quarter last year. During the same quarter last year, the firm posted $0.48 earnings per share. On average, research analysts expect that DexCom, Inc. will post 2.64 earnings per share 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.

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.