Public Employees Retirement System of Ohio Raises Stock Holdings in DexCom, Inc. $DXCM

Key Points

• Public Employees Retirement System of Ohio increased its DexCom stake by 48.5% in the first quarter, adding 57,722 shares to hold 176,637 shares valued at $11.1 million. Institutional investors collectively own 97.75% of the company.
• DexCom reported first-quarter adjusted earnings of $0.56 per share, beating estimates by $0.09, while revenue rose 15% year over year to $1.19 billion. The company posted a 19.31% net margin and 33.33% return on equity.
• Wall Street maintains a “Moderate Buy” consensus rating, with an average price target of $85.36 versus the reported share price of $71.54. Several analysts recently issued or reiterated bullish ratings and targets ranging from $86 to $90.

Public Employees Retirement System of Ohio grew its position in DexCom, Inc. (NASDAQ:DXCM - Free Report) by 48.5% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 176,637 shares of the medical device company's stock after acquiring an additional 57,722 shares during the quarter. Public Employees Retirement System of Ohio's holdings in DexCom were worth $11,093,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the business. Geode Capital Management LLC increased its holdings in shares of DexCom by 0.4% in the 4th quarter. Geode Capital Management LLC now owns 11,006,183 shares of the medical device company's stock valued at $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 stake in DexCom by 6.9% during the 4th 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 worth $530,897,000 after purchasing an additional 516,526 shares during the period. Norges Bank acquired a new stake in DexCom during the 4th quarter worth $483,356,000. Invesco Ltd. grew its position in DexCom by 14.8% during the 4th quarter. Invesco Ltd. now owns 5,315,367 shares of the medical device company's stock worth $352,781,000 after purchasing an additional 686,228 shares during the last quarter. Finally, CIBC Private Wealth Group LLC grew its position in DexCom by 7.6% during the 4th quarter. CIBC Private Wealth Group LLC now owns 3,128,114 shares of the medical device company's stock worth $207,613,000 after purchasing an additional 220,313 shares during the last quarter. 97.75% of the stock is currently owned by hedge funds and other institutional investors.

DexCom Stock Performance

Shares of DXCM opened at $71.54 on Monday. The stock has a market capitalization of $27.61 billion, a P/E ratio of 30.57, a P/E/G ratio of 1.18 and a beta of 1.45. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.64 and a current ratio of 1.95. DexCom, Inc. has a 1 year low of $54.11 and a 1 year high of $89.98. The company's fifty day moving average is $72.46 and its two-hundred day moving average is $68.95.

DexCom (NASDAQ:DXCM - Get Free Report) last released its earnings results on Thursday, April 30th. The medical device company reported $0.56 EPS for the quarter, topping the consensus estimate of $0.47 by $0.09. The company had revenue of $1.19 billion during the quarter, compared to analysts' expectations of $1.17 billion. DexCom had a net margin of 19.31% and a return on equity of 33.33%. The business's revenue was up 15.0% on a year-over-year basis. During the same quarter last year, the business earned $0.32 EPS. On average, sell-side analysts predict that DexCom, Inc. will post 2.57 earnings per share for the current year.

Insider Buying and Selling at DexCom

In other DexCom news, EVP Jon Coleman sold 4,912 shares of DexCom stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of $73.00, for a total value of $358,576.00. Following the sale, the executive vice president owned 100,361 shares of the company's stock, valued at approximately $7,326,353. The trade was a 4.67% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, 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 26,759 shares of the business's stock in a transaction that occurred on Thursday, May 21st. The stock was sold at an average price of $72.00, for a total value of $1,926,648.00. Following the transaction, the insider owned 382,482 shares in the company, valued at $27,538,704. The trade was a 6.54% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 71,750 shares of company stock valued at $5,163,241. Insiders own 0.28% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. Stifel Nicolaus set a $90.00 price objective on shares of DexCom and gave the company a "buy" rating in a research note on Friday, June 5th. Sanford C. Bernstein set a $77.00 target price on shares of DexCom in a research note on Friday, May 1st. Deutsche Bank Aktiengesellschaft assumed coverage on DexCom in a report on Tuesday, June 23rd. They set a "buy" rating and a $86.00 price target on the stock. William Blair upgraded DexCom to a "strong-buy" rating in a research report on Friday, May 15th. Finally, Mizuho upped their price objective on DexCom from $85.00 to $90.00 and gave the company an "outperform" rating in a research note on Wednesday, July 15th. 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 company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $85.36.

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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