Global Retirement Partners LLC Purchases Shares of 20,784 DexCom, Inc. $DXCM

Key Points

• Global Retirement Partners purchased 20,784 DexCom shares worth approximately $1.4 million, while institutional investors collectively own 97.75% of the company.
• Analysts maintain a generally positive outlook, with DexCom receiving a “Moderate Buy” consensus rating and an average price target of $88.71; several firms recently raised their targets.
• DexCom exceeded quarterly expectations, reporting $0.70 in earnings per share and $1.31 billion in revenue, up 13.1% year over year. Insiders, however, sold 99,794 shares worth $7.37 million over the past 90 days.

Global Retirement Partners LLC bought a new stake in DexCom, Inc. (NASDAQ:DXCM - Free Report) in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 20,784 shares of the medical device company's stock, valued at approximately $1,400,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Reflection Asset Management acquired a new stake in shares of DexCom in the fourth quarter valued at approximately $25,000. Ascentis Independent Advisors acquired a new position in shares of DexCom in the 1st quarter valued at $25,000. MCF Advisors LLC purchased a new stake in DexCom in the 4th quarter valued at $32,000. Wellington Grp LLC raised its position in DexCom by 778.7% in 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 during the last quarter. Finally, DV Equities LLC purchased a new position in DexCom during the 4th quarter worth $36,000. Hedge funds and other institutional investors own 97.75% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on DXCM shares. BTIG Research reiterated a "buy" rating and set a $90.00 target price (up from $80.00) on shares of DexCom in a research note on Friday, July 31st. Citigroup reaffirmed a "buy" rating and set a $88.00 price objective (up from $84.00) on shares of DexCom in a research report on Friday, July 31st. JPMorgan Chase & Co. lifted their target price on DexCom from $65.00 to $82.00 and gave the company a "neutral" rating in a research note on Friday, July 31st. Bank of America dropped their target price on DexCom from $100.00 to $80.00 and set a "buy" rating on the stock in a report on Monday, May 18th. Finally, Wall Street Zen cut DexCom from a "strong-buy" rating to a "buy" rating in a research note on Sunday, May 10th. Two analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, DexCom presently has an average rating of "Moderate Buy" and an average price target of $88.71.

Insider Transactions at DexCom

In other 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 completion of the sale, the executive vice president owned 106,353 shares of the company's stock, valued at $8,034,969.15. This represents a 1.57% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Kevin R. Sayer sold 26,759 shares of the firm's stock in a transaction dated Thursday, May 21st. The shares were sold at an average price of $72.00, for a total value of $1,926,648.00. Following the sale, the insider owned 382,482 shares of the company's stock, valued at $27,538,704. This represents a 6.54% 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. Insiders have sold a total of 99,794 shares of company stock worth $7,373,321 over the last ninety days. 0.28% of the stock is owned by insiders.

DexCom Price Performance

DexCom stock opened at $88.76 on Tuesday. The company has a quick ratio of 1.43, a current ratio of 1.73 and a debt-to-equity ratio of 0.47. The firm's 50-day simple moving average is $76.32 and its 200 day simple moving average is $70.44. DexCom, Inc. has a 52 week low of $54.11 and a 52 week high of $91.96. The firm has a market capitalization of $33.49 billion, a PE ratio of 35.08, a P/E/G ratio of 1.51 and a beta of 1.41.

DexCom (NASDAQ:DXCM - Get Free Report) last announced its quarterly earnings data on Thursday, July 30th. The medical device company reported $0.70 EPS for the quarter, beating analysts' consensus estimates of $0.61 by $0.09. DexCom had a return on equity of 35.94% and a net margin of 20.12%.The business had revenue of $1.31 billion during the quarter, compared to the consensus estimate of $1.29 billion. During the same quarter in the previous year, the business earned $0.48 earnings per share. The business's revenue for the quarter was up 13.1% on a year-over-year basis. On average, equities research analysts predict that DexCom, Inc. will post 2.64 EPS for the current fiscal year.

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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