Intermede Investment Partners Ltd Takes $60.35 Million Position in DexCom, Inc. $DXCM

Key Points

• Intermede Investment Partners opened a new position in DexCom during the fourth quarter, buying 909,307 shares worth about $60.35 million. The stake represents roughly 2.5% of its portfolio and about 0.23% of DexCom.
• DexCom’s latest quarterly results topped expectations, with EPS of $0.56 versus $0.47 expected and revenue of $1.19 billion versus $1.17 billion forecast. Revenue rose 15% year over year, and analysts currently see the stock as a Moderate Buy with an average target of $82.21.
• Despite the positive earnings and analyst coverage, there has been some insider selling: Director Bridgette P. Heller and EVP Michael Jon Brown both sold shares in May. DexCom stock recently traded at $72.10, below its 52-week high of $89.98 but above its 50-day and 200-day moving averages.

Intermede Investment Partners Ltd bought a new stake in DexCom, Inc. (NASDAQ:DXCM - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 909,307 shares of the medical device company's stock, valued at approximately $60,351,000. DexCom accounts for approximately 2.5% of Intermede Investment Partners Ltd's investment portfolio, making the stock its 20th largest position. Intermede Investment Partners Ltd owned about 0.23% of DexCom as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in DXCM. CVA Family Office LLC increased its holdings in shares of DexCom by 48.5% in the 4th quarter. CVA Family Office LLC now owns 450 shares of the medical device company's stock valued at $30,000 after purchasing an additional 147 shares during the period. ORG Partners LLC increased its holdings in shares of DexCom by 124.3% in the 4th quarter. ORG Partners LLC now owns 507 shares of the medical device company's stock valued at $34,000 after purchasing an additional 281 shares during the period. Spire Wealth Management increased its holdings in shares of DexCom by 113.8% in the 4th quarter. Spire Wealth Management now owns 573 shares of the medical device company's stock valued at $38,000 after purchasing an additional 305 shares during the period. Aventura Private Wealth LLC acquired a new position in shares of DexCom in the 4th quarter valued at about $43,000. Finally, Rothschild Investment LLC increased its holdings in shares of DexCom by 59.9% in the 3rd quarter. Rothschild Investment LLC now owns 654 shares of the medical device company's stock valued at $44,000 after purchasing an additional 245 shares during the period. Institutional investors and hedge funds own 97.75% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on DXCM shares. Raymond James Financial set a $81.00 target price on DexCom in a report on Friday, May 1st. Barclays reissued an "underweight" rating and issued a $64.00 price target (down from $67.00) on shares of DexCom in a research note on Monday, May 18th. Benchmark assumed coverage on DexCom in a research note on Monday, May 11th. They issued a "buy" rating and a $77.00 price target for the company. Wall Street Zen cut DexCom from a "strong-buy" rating to a "buy" rating in a research note on Sunday, May 10th. Finally, Sanford C. Bernstein set a $77.00 price target on DexCom in a research note on Friday, May 1st. Three research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $82.21.

DexCom Stock Performance

Shares of NASDAQ DXCM opened at $72.10 on Monday. The stock has a market cap of $27.82 billion, a price-to-earnings ratio of 30.81, a PEG ratio of 1.19 and a beta of 1.40. The business has a 50 day simple moving average of $63.58 and a 200 day simple moving average of $66.02. DexCom, Inc. has a 52 week low of $54.11 and a 52 week high of $89.98. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.64 and a current ratio of 1.95.

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

Insider Buying and Selling

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 owned 25,007 shares of the company's stock, valued at $1,500,670.07. This represents a 3.89% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Michael Jon Brown sold 1,700 shares of the company's stock in a transaction that occurred on Friday, May 15th. The stock was 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. The trade was a 1.53% decrease in their position. 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 6,112 shares of company stock valued at $379,990 in the last ninety days. Company insiders own 0.28% of the company's stock.

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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