E Fund Management Co. Ltd. Acquires New Holdings in DexCom, Inc. $DXCM

Key Points

• E Fund Management acquired 18,894 DexCom shares worth approximately $1.27 million during the second quarter. Institutional investors collectively own 97.75% of the company.
• DexCom exceeded quarterly expectations, reporting $0.70 in earnings per share versus the $0.61 consensus estimate and $1.31 billion in revenue, up 13.1% year over year.
• Analysts maintain a “Moderate Buy” consensus rating with an average price target of $88.71, while shares recently opened at $89.88; insiders have sold roughly 73,035 shares over the past three months.

E Fund Management Co. Ltd. purchased a new position in shares of DexCom, Inc. (NASDAQ:DXCM - Free Report) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 18,894 shares of the medical device company's stock, valued at approximately $1,273,000.

Other institutional investors also recently modified their holdings of the company. Aurora Investment Counsel bought a new stake in shares of DexCom in the 2nd quarter valued at about $2,340,000. Edmond DE Rothschild Holding S.A. bought a new stake in DexCom in the second quarter valued at approximately $5,007,000. NewEdge Wealth LLC acquired a new stake in DexCom during the 2nd quarter valued at approximately $337,000. Great Lakes Advisors LLC bought a new position in DexCom during the 2nd quarter worth approximately $369,000. Finally, Danske Bank A S bought a new stake in shares of DexCom in the 2nd quarter valued at $13,137,000. Institutional investors own 97.75% of the company's stock.

Insider Activity at DexCom

In other DexCom news, EVP Jon Coleman sold 4,911 shares of the company's stock in a transaction that occurred on Thursday, June 4th. The stock was sold at an average price of $74.13, for a total transaction of $364,052.43. Following the completion of the transaction, the executive vice president owned 95,450 shares of the company's stock, valued at $7,075,708.50. This represents a 4.89% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Michael Jon Brown sold 1,700 shares of the firm's stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $75.55, for a total transaction of $128,435.00. Following the completion of the sale, the executive vice president owned 106,353 shares of the company's stock, valued at $8,034,969.15. This trade represents a 1.57% 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 three months, insiders sold 73,035 shares of company stock valued at $5,446,673. Company insiders own 0.28% of the company's stock.

DexCom Stock Up 0.3%

Shares of NASDAQ:DXCM opened at $89.88 on Thursday. DexCom, Inc. has a 1 year low of $54.11 and a 1 year high of $91.96. The company has a market capitalization of $33.92 billion, a PE ratio of 35.53, a price-to-earnings-growth ratio of 1.51 and a beta of 1.41. The business has a fifty day moving average price of $76.85 and a two-hundred day moving average price of $70.67. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.73 and a quick ratio of 1.43.

DexCom (NASDAQ:DXCM - Get Free Report) last posted its quarterly earnings results on Thursday, July 30th. The medical device company reported $0.70 EPS for the quarter, topping analysts' consensus estimates of $0.61 by $0.09. The company had revenue of $1.31 billion for the quarter, compared to analysts' expectations of $1.29 billion. DexCom had a net margin of 20.12% and a return on equity of 35.94%. DexCom's revenue was up 13.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.48 EPS. Analysts forecast that DexCom, Inc. will post 2.64 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages recently commented on DXCM. Barclays restated an "underweight" rating and set a $64.00 target price (down from $67.00) on shares of DexCom in a research report on Monday, May 18th. BTIG Research restated a "buy" rating and set a $90.00 price target (up from $80.00) on shares of DexCom in a report on Friday, July 31st. Weiss Ratings upgraded shares of DexCom from a "hold (c-)" rating to a "hold (c)" rating in a research note on Tuesday, August 11th. Bank of America cut their target price on shares of DexCom from $100.00 to $80.00 and set a "buy" rating on the stock in a research note on Monday, May 18th. Finally, Benchmark lifted their price target on shares of DexCom from $77.00 to $82.00 and gave the company a "buy" rating in a research note on Friday, July 31st. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $88.71.

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.

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