Empowered Funds LLC Buys New Shares in DexCom, Inc. $DXCM

Key Points

• Empowered Funds LLC purchased 25,177 DexCom shares worth approximately $1.7 million, while other institutional investors also increased or initiated positions. Hedge funds and institutional investors collectively own 97.75% of DXCM.
• DexCom exceeded quarterly expectations with earnings of $0.70 per share versus the $0.61 consensus estimate and revenue of $1.31 billion, up 13.1% year over year.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $88.71; insiders, however, sold 65,777 shares worth about $4.95 million over the past three months.

Empowered Funds LLC purchased a new position in shares of DexCom, Inc. (NASDAQ:DXCM - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 25,177 shares of the medical device company's stock, valued at approximately $1,696,000.

A number of other large investors also recently bought and sold shares of DXCM. Plato Investment Management Ltd purchased a new position in shares of DexCom in the 2nd quarter worth about $782,000. BOKF NA grew its holdings in shares of DexCom by 175.7% during the 4th quarter. BOKF NA now owns 35,314 shares of the medical device company's stock worth $2,344,000 after purchasing an additional 22,505 shares during the period. Stephens Investment Management Group LLC grew its holdings in shares of DexCom by 21.1% during the 4th quarter. Stephens Investment Management Group LLC now owns 1,042,801 shares of the medical device company's stock worth $69,211,000 after purchasing an additional 181,701 shares during the period. Aurora Investment Counsel acquired a new stake in DexCom during the 2nd quarter worth approximately $2,340,000. Finally, Norges Bank purchased a new position in DexCom in the fourth quarter valued at approximately $483,356,000. Hedge funds and other institutional investors own 97.75% of the company's stock.

DexCom Price Performance

DXCM opened at $89.71 on Friday. The company has a fifty day simple moving average of $80.89 and a 200 day simple moving average of $72.24. The firm has a market cap of $33.85 billion, a price-to-earnings ratio of 35.46, a PEG ratio of 1.50 and a beta of 1.42. DexCom, Inc. has a twelve month low of $54.11 and a twelve month high of $92.59. The company has a current ratio of 1.73, a quick ratio of 1.43 and a debt-to-equity ratio of 0.47.

DexCom (NASDAQ:DXCM - Get Free Report) last released its quarterly 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. DexCom had a net margin of 20.12% and a return on equity of 35.94%. The firm had revenue of $1.31 billion for the quarter, compared to the consensus estimate of $1.29 billion. During the same quarter in the previous year, the firm posted $0.48 EPS. The firm's quarterly revenue was up 13.1% on a year-over-year basis. Equities research analysts expect that DexCom, Inc. will post 2.64 EPS for the current fiscal year.

Insiders Place Their Bets

In other DexCom news, EVP Michael Brown sold 1,700 shares of the firm's stock in a transaction that occurred on 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 in the company, valued at $8,034,969.15. This trade represents a 1.57% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Kevin R. Sayer sold 26,756 shares of DexCom stock in a transaction on Monday, July 20th. The stock was sold at an average price of $76.32, for a total transaction 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 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 65,777 shares of company stock worth $4,950,714. Company insiders own 0.28% of the company's stock.

Analyst Ratings Changes

A number of research analysts have weighed in on DXCM shares. Canaccord Genuity Group set a $90.00 price target on shares of DexCom and gave the company a "buy" rating in a research report on Monday, August 3rd. JPMorgan Chase & Co. increased their price objective on shares of DexCom from $65.00 to $82.00 and gave the stock a "neutral" rating in a research report on Friday, July 31st. Royal Bank Of Canada raised their target price on shares of DexCom from $85.00 to $90.00 and gave the company an "outperform" rating in a research note on Friday, July 31st. Bank of America reduced their target price on shares of DexCom from $100.00 to $80.00 and set a "buy" rating on the stock in a report on Monday, May 18th. Finally, William Blair raised shares of DexCom to a "strong-buy" rating in a research report on Friday, May 15th. 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. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $88.71.

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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