OneDigital Investment Advisors LLC Makes New $11.53 Million Investment in DexCom, Inc. $DXCM

Key Points

• OneDigital Investment Advisors purchased 171,242 DexCom shares worth approximately $11.53 million, while institutional investors collectively own 97.75% of the company.
• Wall Street maintains a favorable outlook, with a consensus “Moderate Buy” rating and an average price target of $88.71; individual analyst targets range from $77 to $96.
• DexCom exceeded quarterly expectations, reporting $0.70 in earnings per share versus $0.61 expected and $1.31 billion in revenue, up 13.1% year over year. Insiders have nevertheless sold nearly 100,000 shares over the past 90 days.

OneDigital Investment Advisors LLC purchased a new stake in DexCom, Inc. (NASDAQ:DXCM - Free Report) during the second quarter, according to the company in its most recent filing with the SEC. The firm purchased 171,242 shares of the medical device company's stock, valued at approximately $11,533,000.

A number of other hedge funds also recently made changes to their positions in DXCM. Geode Capital Management LLC increased its holdings in shares of DexCom by 0.4% during the 4th quarter. Geode Capital Management LLC now owns 11,006,183 shares of the medical device company's stock worth $727,842,000 after buying an additional 42,411 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in DexCom by 6.9% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 7,999,057 shares of the medical device company's stock valued at $530,897,000 after acquiring an additional 516,526 shares during the last quarter. Norges Bank purchased a new stake in DexCom during the fourth quarter valued at about $483,356,000. Invesco Ltd. grew its position in DexCom by 14.8% during the fourth quarter. Invesco Ltd. now owns 5,315,367 shares of the medical device company's stock valued at $352,781,000 after acquiring an additional 686,228 shares during the period. Finally, CIBC Private Wealth Group LLC increased its stake in DexCom by 7.6% during the fourth quarter. CIBC Private Wealth Group LLC now owns 3,128,114 shares of the medical device company's stock worth $207,613,000 after acquiring an additional 220,313 shares during the last quarter. Institutional investors and hedge funds own 97.75% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on DXCM. Sanford C. Bernstein set a $77.00 price objective on DexCom in a report on Friday, May 1st. Royal Bank Of Canada boosted their target price on DexCom from $85.00 to $90.00 and gave the stock an "outperform" rating in a report on Friday, July 31st. TD Cowen reissued a "buy" rating on shares of DexCom in a research report on Friday, July 31st. Bank of America cut their price target on shares of DexCom from $100.00 to $80.00 and set a "buy" rating on the stock in a report on Monday, May 18th. Finally, Argus lifted their price target on shares of DexCom from $86.00 to $96.00 and gave the company a "buy" rating in a research report on Tuesday, August 4th. Two analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $88.71.

DexCom Price Performance

Shares of NASDAQ DXCM opened at $89.75 on Monday. The stock has a fifty day moving average price of $76.08 and a 200 day moving average price of $70.34. The company has a current ratio of 1.73, a quick ratio of 1.43 and a debt-to-equity ratio of 0.47. DexCom, Inc. has a 12-month low of $54.11 and a 12-month high of $91.96. The company has a market cap of $33.87 billion, a P/E ratio of 35.47, a P/E/G ratio of 1.51 and a beta of 1.41.

DexCom (NASDAQ:DXCM - Get Free Report) last issued its quarterly earnings data 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. DexCom had a return on equity of 35.94% and a net margin of 20.12%.The company had revenue of $1.31 billion for the quarter, compared to analysts' expectations of $1.29 billion. During the same quarter in the previous year, the firm posted $0.48 earnings per share. The firm's quarterly revenue was up 13.1% on a year-over-year basis. Research analysts anticipate that DexCom, Inc. will post 2.64 EPS for the current fiscal year.

Insider Buying and Selling

In other DexCom news, EVP Jon Coleman sold 4,911 shares of the stock in a transaction that occurred on Thursday, June 4th. The shares were sold at an average price of $74.13, for a total value of $364,052.43. Following the completion of the sale, the executive vice president owned 95,450 shares of the company's stock, valued at $7,075,708.50. This trade represents a 4.89% decrease in their ownership of the stock. The sale was disclosed in a legal filing 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, insider Kevin R. Sayer sold 26,756 shares of DexCom stock in a transaction that occurred on 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 sale, the insider owned 328,970 shares in the company, valued at $25,106,990.40. This 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. In the last 90 days, insiders have sold 99,794 shares of company stock valued at $7,373,321. Corporate insiders own 0.28% of the company's stock.

About DexCom

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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