NEOS Investment Management LLC Has $21.68 Million Stake in DexCom, Inc. $DXCM

Key Points

• NEOS Investment Management increased its DexCom stake by 19.3% in the second quarter, purchasing 52,085 shares for a total position valued at approximately $21.68 million. Institutional investors and hedge funds collectively own 97.75% of the company.
• DexCom insiders sold 65,777 shares worth about $4.95 million over the past three months, including sales by Director Mark G. Foletta and former CEO Kevin Sayer, both executed under pre-arranged trading plans.
• Analysts maintain a generally positive outlook, with DexCom receiving a consensus “Moderate Buy” rating and an average price target of $88.71. The company recently beat quarterly EPS estimates, reporting $0.70 per share and $1.31 billion in revenue, up 13.1% year over year.

NEOS Investment Management LLC raised its position in DexCom, Inc. (NASDAQ:DXCM - Free Report) by 19.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 321,866 shares of the medical device company's stock after purchasing an additional 52,085 shares during the quarter. NEOS Investment Management LLC owned 0.09% of DexCom worth $21,678,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Paragon Private Wealth Management LLC acquired a new position in shares of DexCom in the second quarter valued at approximately $712,000. Continuum Advisory LLC acquired a new stake in DexCom during the 2nd quarter worth approximately $77,000. Nykredit A S acquired a new stake in DexCom during the 2nd quarter worth approximately $9,499,000. B. Metzler seel. Sohn & Co. AG grew its holdings in DexCom by 2.3% during the 2nd quarter. B. Metzler seel. Sohn & Co. AG now owns 47,413 shares of the medical device company's stock worth $3,193,000 after acquiring an additional 1,066 shares during the last quarter. Finally, Natural Investments LLC grew its holdings in DexCom by 46.5% during the 2nd quarter. Natural Investments LLC now owns 10,232 shares of the medical device company's stock worth $689,000 after acquiring an additional 3,248 shares during the last quarter. 97.75% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director Mark G. Foletta sold 4,000 shares of the firm's stock in a transaction on Monday, June 15th. The stock was sold at an average price of $74.13, for a total transaction of $296,520.00. Following the completion of the sale, the director directly owned 52,852 shares of the company's stock, valued at $3,917,918.76. This trade represents a 7.04% decrease in their position. 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, insider Kevin Sayer sold 26,756 shares of the business's stock in a transaction dated Monday, July 20th. The shares were sold at an average price of $76.32, for a total transaction of $2,042,017.92. Following the completion of the transaction, the insider owned 328,970 shares in the company, valued at approximately $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. Insiders have sold 65,777 shares of company stock worth $4,950,714 over the last three months. Company insiders own 0.28% of the company's stock.

Analysts Set New Price Targets

DXCM has been the topic of a number of recent research reports. JPMorgan Chase & Co. lifted their price target on shares of DexCom from $65.00 to $82.00 and gave the stock a "neutral" rating in a report on Friday, July 31st. Weiss Ratings raised DexCom from a "hold (c-)" rating to a "hold (c)" rating in a research report on Tuesday, August 11th. Citigroup reaffirmed a "buy" rating and set a $88.00 target price (up from $84.00) on shares of DexCom in a report on Friday, July 31st. Wall Street Zen lowered DexCom from a "buy" rating to a "hold" rating in a research report on Saturday, August 29th. Finally, Robert W. Baird set a $105.00 price target on DexCom in a research note on Friday, July 31st. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, DexCom currently has an average rating of "Moderate Buy" and a consensus target price of $88.71.

DexCom Price Performance

Shares of NASDAQ:DXCM opened at $87.90 on Friday. DexCom, Inc. has a twelve month low of $54.11 and a twelve month high of $92.59. The stock's 50 day moving average is $81.24 and its 200-day moving average is $72.35. The company has a quick ratio of 1.43, a current ratio of 1.73 and a debt-to-equity ratio of 0.47. The firm has a market capitalization of $33.17 billion, a price-to-earnings ratio of 34.74, a PEG ratio of 1.50 and a beta of 1.42.

DexCom (NASDAQ:DXCM - Get Free Report) last announced its quarterly earnings results on Thursday, July 30th. The medical device company reported $0.70 EPS for the quarter, beating analysts' consensus estimates of $0.61 by $0.09. DexCom had a net margin of 20.12% and a return on equity of 35.94%. The business had revenue of $1.31 billion during the quarter, compared to analyst estimates of $1.29 billion. During the same quarter in the previous year, the business posted $0.48 EPS. DexCom's quarterly revenue was up 13.1% on a year-over-year basis. Sell-side analysts forecast that DexCom, Inc. will post 2.64 EPS for the current fiscal year.

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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