GSA Capital Partners LLP Takes $1.33 Million Position in DexCom, Inc. $DXCM

Key Points

• GSA Capital Partners acquired 19,820 DexCom shares worth approximately $1.33 million during the second quarter. Institutional investors and hedge funds collectively own 97.75% of DXCM.
• Analysts remain broadly bullish, with an average “Moderate Buy” rating and a consensus price target of $88.71; several firms recently raised their targets to between $90 and $96.
• DexCom exceeded quarterly expectations, reporting $0.70 in adjusted EPS versus $0.61 expected and $1.31 billion in revenue, up 13.1% year over year. Insiders, however, sold 99,794 shares worth about $7.37 million over the past 90 days.

GSA Capital Partners LLP purchased a new stake in DexCom, Inc. (NASDAQ:DXCM - Free Report) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 19,820 shares of the medical device company's stock, valued at approximately $1,335,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of DXCM. Bridgewater Advisors Inc. purchased a new stake in shares of DexCom during the 2nd quarter worth $1,077,000. SWS Partners purchased a new position in shares of DexCom in the 2nd quarter valued at about $2,896,000. Tema ETFs LLC lifted its stake in shares of DexCom by 14.2% in the second quarter. Tema ETFs LLC now owns 21,664 shares of the medical device company's stock valued at $1,459,000 after purchasing an additional 2,688 shares during the period. E. Ohman J or Asset Management AB lifted its stake in shares of DexCom by 18.9% in the second quarter. E. Ohman J or Asset Management AB now owns 113,204 shares of the medical device company's stock valued at $7,624,000 after purchasing an additional 18,012 shares during the period. Finally, Paladin Wealth LLC boosted its holdings in DexCom by 17.4% during the second quarter. Paladin Wealth LLC now owns 9,338 shares of the medical device company's stock worth $629,000 after buying an additional 1,386 shares in the last quarter. Institutional investors and hedge funds own 97.75% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on DXCM. Wells Fargo & Company upped their target price on shares of DexCom from $85.00 to $90.00 and gave the stock an "overweight" rating in a research report on Friday, July 31st. TD Cowen reiterated a "buy" rating on shares of DexCom in a research report on Friday, July 31st. BTIG Research reissued a "buy" rating and set a $90.00 price target (up from $80.00) on shares of DexCom in a research note on Friday, July 31st. William Blair upgraded DexCom to a "strong-buy" rating in a report on Friday, May 15th. Finally, Argus raised their price objective on DexCom from $86.00 to $96.00 and gave the company a "buy" rating in a research note on Tuesday, August 4th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, DexCom presently has an average rating of "Moderate Buy" and a consensus target price of $88.71.

Insider Activity

In related news, EVP Jon Coleman sold 4,912 shares of the firm's stock in a transaction that occurred on Wednesday, June 3rd. The shares were sold at an average price of $73.00, for a total transaction of $358,576.00. Following the sale, the executive vice president owned 100,361 shares in the company, valued at approximately $7,326,353. This trade represents a 4.67% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Michael Jon Brown sold 1,700 shares of DexCom 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 directly owned 106,353 shares of the company's stock, valued at $8,034,969.15. The trade was a 1.57% decrease in their ownership of the stock. 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. Over the last ninety days, insiders sold 99,794 shares of company stock worth $7,373,321. 0.28% of the stock is currently owned by corporate insiders.

DexCom Trading Down 1.1%

DexCom stock opened at $88.76 on Tuesday. The stock has a 50-day moving average price of $76.32 and a 200 day moving average price of $70.44. DexCom, Inc. has a 52 week low of $54.11 and a 52 week high of $91.96. The stock has a market cap of $33.49 billion, a PE ratio of 35.08, a P/E/G ratio of 1.51 and a beta of 1.41. 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 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 company had revenue of $1.31 billion for the quarter, compared to analyst estimates of $1.29 billion. DexCom had a net margin of 20.12% and a return on equity of 35.94%. The firm's quarterly revenue was up 13.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.48 EPS. Equities research analysts predict that DexCom, Inc. will post 2.64 earnings per share 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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