Healthcare of Ontario Pension Plan Trust Fund Decreases Stake in DexCom, Inc. $DXCM

Key Points

• Healthcare of Ontario Pension Plan Trust Fund reduced its DexCom stake by 47.6% in the first quarter, selling 137,938 shares and retaining 152,007 shares valued at approximately $9.5 million. Institutional investors collectively own 97.75% of the company.
• DexCom reported stronger-than-expected quarterly results, with earnings per share of $0.56 versus the $0.47 estimate and revenue of $1.19 billion, up 15% year over year.
• Shares opened at $74.85, while analysts maintain a consensus “Moderate Buy” rating and an average price target of $85.40. Insiders have sold 98,506 shares worth about $7.2 million over the past 90 days.

Healthcare of Ontario Pension Plan Trust Fund cut its stake in shares of DexCom, Inc. (NASDAQ:DXCM - Free Report) by 47.6% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 152,007 shares of the medical device company's stock after selling 137,938 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund's holdings in DexCom were worth $9,546,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the company. Reflection Asset Management acquired a new position in shares of DexCom in the 4th quarter valued at $25,000. Ascentis Independent Advisors acquired a new stake in DexCom during the 1st quarter worth $25,000. MCF Advisors LLC acquired a new stake in DexCom during the 4th quarter worth $32,000. ORG Partners LLC lifted its position in DexCom by 124.3% in the fourth quarter. ORG Partners LLC now owns 507 shares of the medical device company's stock valued at $34,000 after acquiring an additional 281 shares during the last quarter. Finally, DV Equities LLC purchased a new stake in DexCom in the fourth quarter valued at $36,000. 97.75% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at DexCom

In other DexCom news, Director Bridgette P. Heller sold 1,012 shares of the company's stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $60.01, for a total transaction of $60,730.12. Following the completion of the sale, the director directly owned 25,007 shares of the company's stock, valued at $1,500,670.07. This represents a 3.89% decrease in their position. The transaction 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, insider Kevin R. Sayer sold 26,756 shares of the stock in a transaction that occurred on Monday, July 20th. The stock was sold at an average price of $76.32, for a total value of $2,042,017.92. Following the sale, the insider directly owned 328,970 shares of the company's stock, valued at $25,106,990.40. The trade was a 7.52% 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 ninety days, insiders have sold 98,506 shares of company stock valued at $7,205,258. Corporate insiders own 0.28% of the company's stock.

DexCom Stock Up 2.0%

Shares of NASDAQ:DXCM opened at $74.85 on Wednesday. The stock has a market cap of $28.88 billion, a P/E ratio of 31.99, a P/E/G ratio of 1.21 and a beta of 1.45. The firm has a fifty day moving average price of $72.79 and a 200 day moving average price of $69.01. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.95 and a quick ratio of 1.64. DexCom, Inc. has a 1-year low of $54.11 and a 1-year high of $89.98.

DexCom (NASDAQ:DXCM - Get Free Report) last posted its quarterly earnings data on Thursday, April 30th. The medical device company reported $0.56 EPS for the quarter, beating analysts' consensus estimates of $0.47 by $0.09. The company had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.17 billion. DexCom had a net margin of 19.31% and a return on equity of 33.33%. DexCom's quarterly revenue was up 15.0% on a year-over-year basis. During the same period in the previous year, the business posted $0.32 earnings per share. Sell-side analysts predict that DexCom, Inc. will post 2.57 EPS for the current year.

Wall Street Analysts Forecast Growth

DXCM has been the subject of several research analyst reports. Bank of America decreased their price objective on shares of DexCom from $100.00 to $80.00 and set a "buy" rating for the company in a research note on Monday, May 18th. Weiss Ratings raised DexCom from a "hold (c-)" rating to a "hold (c)" rating in a report on Wednesday, July 8th. Sanford C. Bernstein set a $77.00 target price on DexCom in a research report on Friday, May 1st. Stifel Nicolaus set a $90.00 price target on DexCom and gave the stock a "buy" rating in a research note on Friday, June 5th. Finally, Robert W. Baird set a $80.00 price target on DexCom in a research report on Friday, May 1st. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, DexCom has a consensus rating of "Moderate Buy" and an average price target of $85.40.

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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