DexCom, Inc. $DXCM Shares Bought by Assenagon Asset Management S.A.

Key Points

• Assenagon Asset Management increased its DexCom stake by 40.2% in Q1, buying 492,800 additional shares and bringing its total holding to 1,719,249 shares worth about $108 million.
• Insiders sold shares recently, including EVP Michael Jon Brown and Director Mark G. Foletta, and insiders have sold 46,694 shares over the last quarter. Despite this, institutional investors still own 97.75% of DexCom’s stock.
• DexCom beat Q1 earnings expectations with EPS of $0.56 versus $0.47 expected and revenue of $1.19 billion, up 15% year over year; analysts currently rate the stock a “Moderate Buy” with an average price target of $84.88.

Assenagon Asset Management S.A. grew its holdings in shares of DexCom, Inc. (NASDAQ:DXCM - Free Report) by 40.2% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,719,249 shares of the medical device company's stock after purchasing an additional 492,800 shares during the period. Assenagon Asset Management S.A. owned approximately 0.45% of DexCom worth $107,969,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently made changes to their positions in DXCM. Reflection Asset Management acquired a new stake in shares of DexCom during the 4th quarter valued at $25,000. CVA Family Office LLC lifted its holdings in shares of DexCom by 48.5% during the fourth 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 last quarter. MCF Advisors LLC purchased a new stake in shares of DexCom during the fourth quarter valued at $32,000. ORG Partners LLC boosted its position in shares of DexCom by 124.3% in 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 period. Finally, DV Equities LLC acquired a new position in shares of DexCom in the 4th quarter valued at $36,000. Institutional investors and hedge funds own 97.75% of the company's stock.

Insider Buying and Selling

In other DexCom news, EVP Michael Jon Brown sold 1,700 shares of the company's stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $75.55, for a total value of $128,435.00. Following the transaction, the executive vice president directly owned 106,353 shares of the company's stock, valued at $8,034,969.15. This represents a 1.57% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Mark G. Foletta sold 4,000 shares of the firm's stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $74.13, for a total value of $296,520.00. Following the sale, the director directly owned 52,852 shares of the company's stock, valued at $3,917,918.76. This trade represents a 7.04% 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 quarter, insiders have sold 46,694 shares of company stock worth $3,343,977. Insiders own 0.28% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on DXCM shares. Weiss Ratings restated a "hold (c-)" rating on shares of DexCom in a report on Monday, June 1st. Evercore upgraded shares of DexCom from an "in-line" rating to an "outperform" rating and set a $90.00 target price for the company in a report on Tuesday, March 24th. Wall Street Zen downgraded shares of DexCom from a "strong-buy" rating to a "buy" rating in a research report on Sunday, May 10th. Raymond James Financial restated a "strong-buy" rating and set a $91.00 price target on shares of DexCom in a report on Monday, June 8th. Finally, Bank of America reduced their price target on shares of DexCom from $100.00 to $80.00 and set a "buy" rating for the company in a research report on Monday, May 18th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, DexCom presently has an average rating of "Moderate Buy" and a consensus price target of $84.88.

DexCom Price Performance

Shares of DXCM opened at $69.73 on Thursday. The company has a market capitalization of $26.91 billion, a price-to-earnings ratio of 29.80, a P/E/G ratio of 1.08 and a beta of 1.45. 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 current ratio of 1.95 and a quick ratio of 1.64. The business's 50-day moving average is $67.36 and its 200-day moving average is $68.04.

DexCom (NASDAQ:DXCM - Get Free Report) last posted its quarterly earnings results on Thursday, April 30th. The medical device company reported $0.56 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.47 by $0.09. DexCom had a net margin of 19.31% and a return on equity of 33.33%. The business had revenue of $1.19 billion during the quarter, compared to analyst estimates of $1.17 billion. During the same period in the prior year, the firm earned $0.32 earnings per share. The firm's revenue was up 15.0% compared to the same quarter last year. Equities research analysts expect that DexCom, Inc. will post 2.58 EPS for the current fiscal year.

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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