Flputnam Investment Management Co. Makes New Investment in DexCom, Inc. $DXCM

Key Points

• Flputnam Investment Management initiated a DexCom position during the second quarter, purchasing 15,705 shares valued at approximately $1.06 million. Institutional investors collectively own 97.75% of the company.
• DexCom reported quarterly earnings of $0.70 per share, exceeding estimates by $0.09, while revenue rose 13.1% year over year to $1.31 billion. Analysts project full-year EPS of $2.64.
• Recent analyst sentiment remains positive, with an average “Moderate Buy” rating and an $88.71 price target, although insiders have sold nearly 100,000 shares worth about $7.37 million over the past 90 days.

Flputnam Investment Management Co. bought a new position in shares of DexCom, Inc. (NASDAQ:DXCM - Free Report) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 15,705 shares of the medical device company's stock, valued at approximately $1,058,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Reflection Asset Management purchased a new stake in shares of DexCom in the fourth quarter valued at approximately $25,000. Ascentis Independent Advisors purchased a new position in DexCom during the 1st quarter worth $25,000. MCF Advisors LLC purchased a new position in DexCom during the 4th quarter worth $32,000. Wellington Grp LLC raised its position in DexCom by 778.7% during the 1st quarter. Wellington Grp LLC now owns 536 shares of the medical device company's stock valued at $34,000 after purchasing an additional 475 shares in the last quarter. Finally, DV Equities LLC purchased a new stake in shares of DexCom in the 4th quarter worth $36,000. Institutional investors own 97.75% of the company's stock.

Insider Activity

In other DexCom news, EVP Michael Jon Brown sold 1,700 shares of the firm's stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $75.55, for a total value of $128,435.00. Following the completion of the sale, the executive vice president directly owned 106,353 shares in the company, valued at $8,034,969.15. This trade represents a 1.57% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Jon Coleman sold 4,912 shares of DexCom stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $73.00, for a total transaction of $358,576.00. Following the completion of the transaction, the executive vice president directly owned 100,361 shares in the company, valued at $7,326,353. This represents a 4.67% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 99,794 shares of company stock worth $7,373,321. Insiders own 0.28% of the company's stock.

DexCom Price Performance

Shares of DXCM stock opened at $88.76 on Tuesday. The stock's 50-day moving average is $76.32 and its 200 day moving average is $70.44. DexCom, Inc. has a 1-year low of $54.11 and a 1-year high of $91.96. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.73 and a quick ratio of 1.43. The company has a market cap of $33.49 billion, a P/E ratio of 35.08, a PEG ratio of 1.51 and a beta of 1.41.

DexCom (NASDAQ:DXCM - Get Free Report) last announced its 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. DexCom had a net margin of 20.12% and a return on equity of 35.94%. The business had revenue of $1.31 billion during the quarter, compared to the consensus estimate of $1.29 billion. During the same period in the previous year, the company posted $0.48 earnings per share. The firm's revenue was up 13.1% on a year-over-year basis. Research analysts predict that DexCom, Inc. will post 2.64 earnings per share for the current fiscal year.

Analyst Ratings Changes

DXCM has been the topic of a number of recent research reports. Wall Street Zen downgraded 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 issued a $94.00 price objective on shares of DexCom in a report on Friday, July 31st. Truist Financial set a $93.00 price objective on shares of DexCom and gave the stock a "buy" rating in a research note on Friday, July 31st. Argus increased their target price on shares of DexCom from $86.00 to $96.00 and gave the stock a "buy" rating in a report on Tuesday, August 4th. Finally, Barclays reiterated an "underweight" rating and set a $64.00 target price (down from $67.00) on shares of DexCom in a report on Monday, May 18th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $88.71.

DexCom Company 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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