Intech Investment Management LLC Acquires 129,504 Shares of DexCom, Inc. $DXCM

Key Points

• Intech Investment Management LLC increased its DexCom stake by 156.6% in the fourth quarter, buying 129,504 additional shares and bringing its holdings to 212,220 shares worth about $14.1 million.
• DexCom recently reported better-than-expected quarterly results, with EPS of $0.56 versus estimates of $0.47 and revenue of $1.19 billion versus $1.17 billion expected. Revenue rose 15% year over year.
• Analysts remain generally constructive on the stock, with a Moderate Buy consensus and an average price target of $82.42, while shares recently traded up 1.9% to $73.74.

Intech Investment Management LLC grew its holdings in shares of DexCom, Inc. (NASDAQ:DXCM - Free Report) by 156.6% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 212,220 shares of the medical device company's stock after purchasing an additional 129,504 shares during the quarter. Intech Investment Management LLC owned about 0.05% of DexCom worth $14,085,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Geode Capital Management LLC boosted its position in DexCom by 0.4% during the fourth quarter. Geode Capital Management LLC now owns 11,006,183 shares of the medical device company's stock worth $727,842,000 after purchasing an additional 42,411 shares during the period. Employees Retirement System of Texas bought a new position in DexCom during the fourth quarter worth about $37,871,000. Allstate Corp boosted its position in DexCom by 102.2% during the fourth quarter. Allstate Corp now owns 28,962 shares of the medical device company's stock worth $1,922,000 after purchasing an additional 14,639 shares during the period. Sectoral Asset Management Inc. lifted its holdings in shares of DexCom by 38.6% in the fourth quarter. Sectoral Asset Management Inc. now owns 28,700 shares of the medical device company's stock worth $1,905,000 after buying an additional 8,000 shares in the last quarter. Finally, Clearstead Advisors LLC lifted its holdings in shares of DexCom by 143.9% in the fourth quarter. Clearstead Advisors LLC now owns 4,497 shares of the medical device company's stock worth $298,000 after buying an additional 2,653 shares in the last quarter. Institutional investors own 97.75% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on DXCM shares. Robert W. Baird set a $80.00 price target on shares of DexCom in a report on Friday, May 1st. Citigroup reissued a "buy" rating and issued a $84.00 price target (up from $79.00) on shares of DexCom in a report on Thursday. Benchmark started coverage on shares of DexCom in a report on Monday, May 11th. They issued a "buy" rating and a $77.00 price target on the stock. BTIG Research reissued a "buy" rating and issued a $85.00 price target on shares of DexCom in a report on Monday, March 9th. Finally, Wells Fargo & Company lowered their price target on shares of DexCom from $93.00 to $85.00 and set an "overweight" rating on the stock in a report on Friday, February 13th. Three equities research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, three have given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, DexCom has a consensus rating of "Moderate Buy" and an average target price of $82.42.

DexCom Trading Up 1.9%

Shares of DexCom stock opened at $73.74 on Friday. The company's 50-day moving average price is $64.17 and its 200-day moving average price is $66.44. The company has a market cap of $28.45 billion, a price-to-earnings ratio of 31.51, a PEG ratio of 1.20 and a beta of 1.40. The company has a current ratio of 1.95, a quick ratio of 1.64 and a debt-to-equity ratio of 0.42. DexCom, Inc. has a 12-month low of $54.11 and a 12-month high of $89.98.

DexCom (NASDAQ:DXCM - Get Free Report) last announced its earnings results on Thursday, April 30th. The medical device company reported $0.56 earnings per share for the quarter, beating analysts' consensus estimates of $0.47 by $0.09. The business had revenue of $1.19 billion for the quarter, compared to the consensus estimate 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 last year, the firm posted $0.32 earnings per share. On average, equities analysts expect that DexCom, Inc. will post 2.57 earnings per share for the current fiscal year.

Insider Activity at DexCom

In related news, EVP Michael Jon Brown sold 1,700 shares of the firm's stock in a transaction that occurred on Friday, May 15th. The shares were sold at an average price of $59.91, for a total value of $101,847.00. Following the sale, the executive vice president directly owned 109,504 shares of the company's stock, valued at $6,560,384.64. This trade represents a 1.53% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Bridgette P. Heller sold 1,012 shares of the firm's stock in a transaction that occurred on Tuesday, May 12th. The shares were 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 in the company, valued at $1,500,670.07. This represents a 3.89% 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. Insiders have sold 32,871 shares of company stock valued at $2,306,638 over the last three months. 0.28% of the stock is owned by corporate insiders.

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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