Jupiter Asset Management Ltd. Increases Stake in DexCom, Inc. $DXCM

Key Points

• Jupiter Asset Management boosted its DexCom stake by 254.7% in the fourth quarter, ending with 183,265 shares valued at about $12.2 million.
• Other institutions also increased exposure to DexCom, and the stock is now 97.75% owned by hedge funds and other institutional investors.
• DexCom reported better-than-expected quarterly results, with EPS of $0.56 versus the $0.47 estimate and revenue of $1.19 billion; analysts currently rate the stock a Moderate Buy with a consensus target price of $82.42.

Jupiter Asset Management Ltd. raised its stake in shares of DexCom, Inc. (NASDAQ:DXCM - Free Report) by 254.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 183,265 shares of the medical device company's stock after purchasing an additional 131,604 shares during the quarter. Jupiter Asset Management Ltd.'s holdings in DexCom were worth $12,163,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Intech Investment Management LLC lifted its position in DexCom by 156.6% during the 4th quarter. Intech Investment Management LLC now owns 212,220 shares of the medical device company's stock worth $14,085,000 after acquiring an additional 129,504 shares during the period. Geode Capital Management LLC lifted its holdings in shares of 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 purchased a new stake in DexCom in the fourth quarter valued at approximately $37,871,000. Allstate Corp increased its holdings in DexCom by 102.2% in the 4th quarter. Allstate Corp now owns 28,962 shares of the medical device company's stock worth $1,922,000 after buying an additional 14,639 shares during the period. Finally, Sectoral Asset Management Inc. raised its position in DexCom by 38.6% during the 4th 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 during the last quarter. 97.75% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, Director Bridgette P. Heller sold 1,012 shares of the business'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 transaction, the director directly owned 25,007 shares in the company, valued at $1,500,670.07. The trade was a 3.89% decrease in their position. The sale was disclosed in a document filed with the SEC, 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 stock in a transaction that occurred on 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 completion of the sale, the insider directly owned 382,482 shares of the company's stock, valued at approximately $27,538,704. This represents a 6.54% 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. Over the last three months, insiders have sold 32,871 shares of company stock worth $2,306,638. 0.28% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on DXCM shares. Wall Street Zen lowered shares of DexCom from a "strong-buy" rating to a "buy" rating in a research note on Sunday, May 10th. BTIG Research restated a "buy" rating and issued a $85.00 target price on shares of DexCom in a research note on Monday, March 9th. Evercore upgraded DexCom from an "in-line" rating to an "outperform" rating and set a $90.00 price target for the company in a research report on Tuesday, March 24th. Bank of America lowered their price objective on DexCom from $100.00 to $80.00 and set a "buy" rating on the stock in a research report on Monday, May 18th. Finally, Sanford C. Bernstein set a $77.00 price target on shares of DexCom in a report on Friday, May 1st. Three research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $82.42.

DexCom Stock Up 1.9%

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

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