DexCom, Inc. $DXCM Shares Newly Acquired by Bright Rock Capital Management LLC

Key Points

• Bright Rock Capital Management initiated a DexCom position in the third quarter by purchasing 36,000 shares valued at approximately $3.1 million. Institutional investors and hedge funds collectively own 97.75% of DXCM.
• Analysts remain broadly positive, with DexCom receiving a “Moderate Buy” consensus rating and an average price target of $89.74. Recent brokerages raised targets to between $82 and $96.
• DexCom exceeded quarterly expectations, reporting adjusted EPS of $0.70 versus estimates of $0.61 and revenue of $1.31 billion, up 13.1% year over year. The stock recently traded at $86.86, while insiders have sold about $3.95 million of shares over the past 90 days.

Bright Rock Capital Management LLC bought a new position in DexCom, Inc. (NASDAQ:DXCM - Free Report) in the third quarter, according to its most recent filing with the SEC. The firm bought 36,000 shares of the medical device company's stock, valued at approximately $3,106,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in DXCM. Plato Investment Management Ltd acquired a new stake in DexCom during the 2nd quarter valued at approximately $782,000. Aurora Investment Counsel acquired a new position in DexCom during the second quarter valued at $2,340,000. E Fund Management Co. Ltd. purchased a new stake in DexCom in the second quarter valued at $1,273,000. Silvant Capital Management LLC purchased a new position in DexCom during the second quarter valued at approximately $5,359,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in DexCom in the second quarter valued at approximately $89,940,000. Institutional investors and hedge funds own 97.75% of the company's stock.

Analyst Ratings Changes

A number of brokerages have issued reports on DXCM. Argus increased their price target on DexCom from $86.00 to $96.00 and gave the stock a "buy" rating in a research report on Tuesday, August 4th. Piper Sandler reaffirmed an "overweight" rating and set a $95.00 price objective (up from $88.00) on shares of DexCom in a report on Friday, July 31st. Canaccord Genuity Group set a $90.00 price target on shares of DexCom and gave the stock a "buy" rating in a research report on Monday, August 3rd. Benchmark boosted their price objective on DexCom from $77.00 to $82.00 and gave the stock a "buy" rating in a research note on Friday, July 31st. Finally, Deutsche Bank Aktiengesellschaft started coverage on DexCom in a research report on Tuesday, June 23rd. They issued a "buy" rating and a $86.00 target price on the stock. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, DexCom currently has an average rating of "Moderate Buy" and an average target price of $89.74.

DexCom Price Performance

DXCM stock traded up $1.50 during mid-day trading on Monday, reaching $86.86. The company's stock had a trading volume of 750,285 shares, compared to its average volume of 5,039,122. The company has a current ratio of 1.73, a quick ratio of 1.43 and a debt-to-equity ratio of 0.47. The company's 50 day moving average is $86.70 and its two-hundred day moving average is $74.61. DexCom, Inc. has a fifty-two week low of $54.11 and a fifty-two week high of $92.59. The stock has a market cap of $32.78 billion, a PE ratio of 34.31, a P/E/G ratio of 1.43 and a beta of 1.48.

DexCom (NASDAQ:DXCM - Get Free Report) last posted its quarterly earnings results on Thursday, July 30th. The medical device company reported $0.70 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.61 by $0.09. The business had revenue of $1.31 billion during the quarter, compared to analyst estimates 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 prior year, the business earned $0.48 earnings per share. Equities research analysts expect that DexCom, Inc. will post 2.64 EPS for the current year.

Insider Activity

In other DexCom news, Director Nicholas Augustinos sold 6,539 shares of DexCom stock in a transaction dated Tuesday, September 15th. The shares were sold at an average price of $84.04, for a total transaction of $549,537.56. Following the transaction, the director directly owned 29,293 shares of the company's stock, valued at $2,461,783.72. The trade was a 18.25% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Jereme Sylvain sold 3,638 shares of the stock in a transaction that occurred on Thursday, September 10th. The shares were sold at an average price of $83.27, for a total transaction of $302,936.26. Following the completion of the sale, the executive vice president directly owned 146,828 shares of the company's stock, valued at approximately $12,226,367.56. This trade represents a 2.42% 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 90 days, insiders have sold 49,313 shares of company stock worth $3,945,875. Insiders own 0.28% of the company's stock.

DexCom Profile

DexCom, Inc NASDAQ: DXCM develops and commercializes continuous glucose monitoring (CGM) systems for people with diabetes. Its technology uses a small wearable sensor to measure glucose levels continuously and transmit readings to a compatible receiver, smartphone or other connected device, helping users monitor glucose trends and make more informed treatment and lifestyle decisions.

The company's product portfolio includes the Dexcom G7 and Dexcom G6 real-time CGM systems, as well as related software and digital health tools such as Dexcom Clarity for glucose data analysis and reporting.

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