Man Group plc Invests $26.57 Million in DexCom, Inc. $DXCM

Key Points

• Man Group acquired a new $26.57 million stake in DexCom, purchasing 394,449 shares, or approximately 0.10% of the company. Institutional investors and hedge funds collectively own 97.75% of DexCom.
• DexCom exceeded quarterly expectations, reporting $0.70 in EPS versus the $0.61 consensus and $1.31 billion in revenue, up 13.1% year over year.
• Analysts maintain a generally bullish view, with a consensus “Moderate Buy” rating and an average price target of $88.71, while insiders have sold 73,035 shares worth about $5.45 million over the past 90 days.

Man Group plc bought a new position in shares of DexCom, Inc. (NASDAQ:DXCM - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 394,449 shares of the medical device company's stock, valued at approximately $26,566,000. Man Group plc owned about 0.10% of DexCom as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Reflection Asset Management acquired a new position in DexCom during the 4th quarter worth about $25,000. Ascentis Independent Advisors bought a new stake in DexCom during the 1st quarter worth about $25,000. MCF Advisors LLC acquired a new stake in DexCom in the 4th quarter valued at about $32,000. Wellington Grp LLC increased its position in DexCom by 778.7% in the 1st quarter. Wellington Grp LLC now owns 536 shares of the medical device company's stock valued at $34,000 after acquiring an additional 475 shares in the last quarter. Finally, DV Equities LLC bought a new position in shares of DexCom in the fourth quarter worth about $36,000. 97.75% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other DexCom news, EVP Michael Jon Brown sold 1,700 shares of the stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $75.55, for a total value of $128,435.00. Following the transaction, the executive vice president owned 106,353 shares of the company's stock, valued at approximately $8,034,969.15. This represents a 1.57% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through 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 firm's stock in a transaction dated 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 transaction, the insider owned 328,970 shares in the company, valued at approximately $25,106,990.40. This trade represents a 7.52% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 73,035 shares of company stock worth $5,446,673. Company insiders own 0.28% of the company's stock.

DexCom Trading Down 0.2%

Shares of NASDAQ DXCM opened at $88.96 on Thursday. DexCom, Inc. has a fifty-two week low of $54.11 and a fifty-two week high of $92.59. The firm has a market capitalization of $33.57 billion, a P/E ratio of 35.16, a P/E/G ratio of 1.50 and a beta of 1.41. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.73 and a quick ratio of 1.43. The company's 50 day simple moving average is $78.50 and its 200 day simple moving average is $71.33.

DexCom (NASDAQ:DXCM - Get Free Report) last released its earnings results on Thursday, July 30th. The medical device company reported $0.70 EPS for the quarter, topping analysts' consensus estimates of $0.61 by $0.09. The firm had revenue of $1.31 billion during 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 business's quarterly revenue was up 13.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.48 EPS. On average, analysts predict that DexCom, Inc. will post 2.64 EPS for the current year.

Analyst Ratings Changes

Several analysts have recently commented on the stock. Deutsche Bank Aktiengesellschaft started coverage on shares of DexCom in a research note on Tuesday, June 23rd. They set a "buy" rating and a $86.00 price target on the stock. Raymond James Financial reiterated a "strong-buy" rating and issued a $94.00 price objective on shares of DexCom in a research report on Friday, July 31st. Benchmark boosted their target price on DexCom from $77.00 to $82.00 and gave the stock a "buy" rating in a research report on Friday, July 31st. Canaccord Genuity Group set a $90.00 price target on DexCom and gave the company a "buy" rating in a research note on Monday, August 3rd. Finally, BTIG Research reiterated a "buy" rating and issued a $90.00 price target (up from $80.00) on shares of DexCom in a report on Friday, July 31st. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $88.71.

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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