Parkman Healthcare Partners LLC Acquires Shares of 534,767 DexCom, Inc. $DXCM

Key Points

• Parkman Healthcare Partners acquired 534,767 DexCom shares worth approximately $36.0 million, making DXCM its fourth-largest holding and representing about 3.7% of its portfolio.
• Institutional investors own 97.75% of DexCom, with several major firms—including Norges Bank, AQR Capital Management and Legal & General—recently building or initiating positions.
• DexCom beat quarterly expectations with adjusted earnings of $0.70 per share and revenue of $1.31 billion, while analysts maintained a broadly positive outlook with a “Moderate Buy” consensus rating and an average target price of $88.71.

Parkman Healthcare Partners LLC bought a new stake in DexCom, Inc. (NASDAQ:DXCM - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 534,767 shares of the medical device company's stock, valued at approximately $36,017,000. DexCom accounts for about 3.7% of Parkman Healthcare Partners LLC's holdings, making the stock its 4th largest position. Parkman Healthcare Partners LLC owned 0.14% of DexCom at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in DXCM. Norges Bank acquired a new stake in DexCom in the fourth quarter worth about $483,356,000. AQR Capital Management LLC boosted its stake in shares of DexCom by 597.8% in the 4th quarter. AQR Capital Management LLC now owns 3,102,789 shares of the medical device company's stock valued at $205,932,000 after purchasing an additional 2,658,158 shares during the last quarter. Legal & General Group Plc bought a new position in shares of DexCom in the 2nd quarter valued at about $173,237,000. Deutsche Bank AG bought a new stake in shares of DexCom during the second quarter worth approximately $164,035,000. Finally, Employees Provident Fund Board bought a new stake in shares of DexCom during the fourth quarter worth approximately $145,352,000. Institutional investors and hedge funds own 97.75% of the company's stock.

DexCom Stock Down 1.4%

Shares of DexCom stock opened at $91.06 on Tuesday. The firm has a market cap of $34.36 billion, a PE ratio of 35.99, a P/E/G ratio of 1.56 and a beta of 1.41. The business's 50 day simple moving average is $77.83 and its 200 day simple moving average is $71.07. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.43 and a current ratio of 1.73. DexCom, Inc. has a 52-week low of $54.11 and a 52-week high of $92.59.

DexCom (NASDAQ:DXCM - Get Free Report) last released its quarterly earnings results on Thursday, July 30th. The medical device company reported $0.70 earnings per share 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 firm had revenue of $1.31 billion during the quarter, compared to the consensus estimate of $1.29 billion. During the same quarter in the prior year, the firm posted $0.48 EPS. The business's revenue was up 13.1% on a year-over-year basis. On average, analysts predict that DexCom, Inc. will post 2.64 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have commented on DXCM shares. Wells Fargo & Company lifted their target price on shares of DexCom from $85.00 to $90.00 and gave the stock an "overweight" rating in a report on Friday, July 31st. Bank of America dropped their price objective on DexCom from $100.00 to $80.00 and set a "buy" rating for the company in a report on Monday, May 18th. Royal Bank Of Canada increased their price target on shares of DexCom from $85.00 to $90.00 and gave the company an "outperform" rating in a research report on Friday, July 31st. Robert W. Baird set a $105.00 target price on DexCom in a report on Friday, July 31st. Finally, Stifel Nicolaus set a $95.00 price objective on DexCom and gave the company a "buy" rating in a report on Friday, July 31st. Two investment analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $88.71.

Insider Buying and Selling at DexCom

In related news, insider Kevin R. Sayer sold 26,756 shares of the firm's stock in a transaction on Monday, July 20th. The shares were sold at an average price of $76.32, for a total value of $2,042,017.92. Following the completion of the transaction, the insider owned 328,970 shares of the company's stock, valued at approximately $25,106,990.40. This trade represents a 7.52% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Michael Jon Brown sold 1,700 shares of the business's stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $75.55, for a total transaction of $128,435.00. Following the sale, the executive vice president directly owned 106,353 shares in the company, valued at $8,034,969.15. This trade represents a 1.57% 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. 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.

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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