Public Employees Retirement System of Ohio Invests $13.94 Million in DexCom, Inc. $DXCM

Key Points

• Public Employees Retirement System of Ohio purchased 207,036 DexCom shares worth approximately $13.94 million, representing about 0.05% of the company.
• Institutional investors own 97.75% of DexCom, with major holders including Geode Capital, UBS Asset Management, Norges Bank and Invesco increasing or initiating positions.
• DexCom exceeded quarterly earnings and revenue expectations, reporting $0.70 EPS and $1.31 billion in revenue, while analysts maintained a broadly positive outlook with a consensus “Moderate Buy” rating.

Public Employees Retirement System of Ohio purchased a new stake in shares of DexCom, Inc. (NASDAQ:DXCM - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 207,036 shares of the medical device company's stock, valued at approximately $13,944,000. Public Employees Retirement System of Ohio owned about 0.05% of DexCom as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently modified their holdings of DXCM. Geode Capital Management LLC boosted its stake 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 acquiring an additional 42,411 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of 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 period. Norges Bank bought a new stake in shares of DexCom in the fourth quarter valued at about $483,356,000. Invesco Ltd. boosted its position in shares of DexCom by 14.8% in 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 grew its stake in shares of DexCom by 7.6% in the fourth quarter. CIBC Private Wealth Group LLC now owns 3,128,114 shares of the medical device company's stock valued at $207,613,000 after acquiring an additional 220,313 shares in the last quarter. Institutional investors own 97.75% of the company's stock.

DexCom Price Performance

DXCM stock opened at $90.82 on Monday. DexCom, Inc. has a 52 week low of $54.11 and a 52 week high of $92.59. The business has a 50-day simple moving average of $79.21 and a 200 day simple moving average of $71.61. 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 company has a market cap of $34.27 billion, a PE ratio of 35.90, a price-to-earnings-growth ratio of 1.53 and a beta of 1.41.

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

Insider Activity at DexCom

In related news, insider Kevin R. Sayer sold 26,756 shares of the 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 approximately $25,106,990.40. This trade represents a 7.52% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Sadie Stern sold 2,565 shares of DexCom stock in a transaction that occurred on Thursday, August 27th. The shares were sold at an average price of $88.37, for a total transaction of $226,669.05. Following the completion of the transaction, the executive vice president directly owned 126,043 shares in the company, valued at $11,138,419.91. This trade represents a 1.99% 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 a total of 75,600 shares of company stock worth $5,673,342 in the last 90 days. Corporate insiders own 0.28% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the stock. BTIG Research reaffirmed a "buy" rating and set a $90.00 price target (up from $80.00) on shares of DexCom in a research report on Friday, July 31st. Royal Bank Of Canada boosted their price objective on shares of DexCom from $85.00 to $90.00 and gave the company an "outperform" rating in a report on Friday, July 31st. Mizuho increased their target price on shares of DexCom from $90.00 to $95.00 and gave the stock an "outperform" rating in a research report on Friday, July 31st. Wells Fargo & Company raised 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. Finally, Robert W. Baird set a $105.00 price target on shares of DexCom in a research report on Friday, July 31st. Two investment analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $88.71.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.