Rakuten Investment Management Inc. Buys Shares of 92,912 DexCom, Inc. $DXCM

Key Points

• Rakuten Investment Management bought a new 92,912-share stake in DexCom valued at approximately $6.5 million. Institutional investors collectively own 97.75% of the company.
• DexCom exceeded quarterly expectations, reporting $0.70 in EPS versus the $0.61 consensus and $1.31 billion in revenue, up 13.1% year over year. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $88.71.
• DexCom shares opened at $90.82, near the company’s 12-month high of $92.59. Meanwhile, insiders sold 75,600 shares worth roughly $5.67 million over the past three months, primarily under pre-arranged trading plans.

Rakuten Investment Management Inc. purchased a new stake in shares of DexCom, Inc. (NASDAQ:DXCM - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 92,912 shares of the medical device company's stock, valued at approximately $6,502,000.

Several other institutional investors have also modified their holdings of the company. Geode Capital Management LLC lifted its position in 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 purchasing an additional 42,411 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in DexCom by 6.9% in 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 last quarter. Norges Bank bought a new position in DexCom in the 4th quarter worth about $483,356,000. Invesco Ltd. increased its stake 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 purchasing an additional 686,228 shares during the period. Finally, CIBC Private Wealth Group LLC increased 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 purchasing an additional 220,313 shares during the period. Institutional investors own 97.75% of the company's stock.

DexCom Price Performance

Shares of NASDAQ:DXCM opened at $90.82 on Friday. DexCom, Inc. has a 12 month low of $54.11 and a 12 month high of $92.59. The stock has a market cap of $34.27 billion, a price-to-earnings ratio of 35.90, a PEG ratio of 1.53 and a beta of 1.41. The stock's 50 day moving average price is $79.21 and its 200 day moving average price is $71.60. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.73 and a quick ratio of 1.43.

DexCom (NASDAQ:DXCM - Get Free Report) last issued its quarterly earnings results on Thursday, July 30th. The medical device company reported $0.70 earnings per share (EPS) for the quarter, beating 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 analyst estimates of $1.29 billion. During the same period last year, the company posted $0.48 EPS. The firm's quarterly revenue was up 13.1% on a year-over-year basis. Equities research analysts anticipate that DexCom, Inc. will post 2.64 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

DXCM has been the topic of a number of recent analyst reports. Piper Sandler reaffirmed an "overweight" rating and set a $95.00 price target (up from $88.00) on shares of DexCom in a report on Friday, July 31st. BTIG Research restated a "buy" rating and issued a $90.00 target price (up from $80.00) on shares of DexCom in a research report on Friday, July 31st. Canaccord Genuity Group set a $90.00 target price on DexCom and gave the company a "buy" rating in a research note on Monday, August 3rd. Weiss Ratings upgraded DexCom from a "hold (c-)" rating to a "hold (c)" rating in a research report on Tuesday, August 11th. Finally, UBS Group set a $96.00 price target on DexCom and gave the stock a "buy" rating in a research note on Tuesday, July 28th. 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 company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $88.71.

Insider Buying and Selling at DexCom

In other news, insider Kevin R. Sayer sold 26,756 shares of the firm'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. This trade represents a 7.52% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Mark G. Foletta sold 4,000 shares of DexCom stock in a transaction that occurred 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 transaction, the director directly owned 52,852 shares in the company, valued at $3,917,918.76. This represents a 7.04% decrease in their position. 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 three months, insiders have sold 75,600 shares of company stock valued at $5,673,342. Corporate insiders own 0.28% of the company's stock.

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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