Stephens Investment Management Group LLC Acquires 31,664 Shares of DexCom, Inc. $DXCM

Key Points

• Stephens Investment Management Group boosted its DexCom stake by 3.0% in the first quarter, adding 31,664 shares and bringing its total to 1,074,465 shares worth about $67.5 million.
• Insider selling was notable, with EVP Michael Jon Brown and Director Mark G. Foletta both selling shares on June 15; insiders have sold 46,694 shares worth about $3.34 million over the past 90 days.
• DexCom beat earnings expectations in its latest quarter, reporting $0.56 EPS on $1.19 billion in revenue, while analysts currently rate the stock a “Moderate Buy” with a consensus price target of $84.88.

Stephens Investment Management Group LLC increased its holdings in DexCom, Inc. (NASDAQ:DXCM - Free Report) by 3.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,074,465 shares of the medical device company's stock after acquiring an additional 31,664 shares during the period. Stephens Investment Management Group LLC owned about 0.28% of DexCom worth $67,476,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Geode Capital Management LLC lifted its holdings in shares of DexCom by 0.4% in the fourth 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 in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in DexCom by 6.9% during 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 worth $530,897,000 after buying an additional 516,526 shares in the last quarter. Norges Bank bought a new stake in DexCom during the fourth quarter worth $483,356,000. Invesco Ltd. raised its position in DexCom by 14.8% in the 4th quarter. Invesco Ltd. now owns 5,315,367 shares of the medical device company's stock valued at $352,781,000 after buying an additional 686,228 shares during the last quarter. Finally, CIBC Private Wealth Group LLC raised its position in DexCom by 7.6% in the 4th 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 buying an additional 220,313 shares during the last quarter. Institutional investors and hedge funds own 97.75% of the company's stock.

Insider Activity at DexCom

In other DexCom news, EVP Michael Jon Brown sold 1,700 shares of the business's stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $75.55, for a total value of $128,435.00. Following the transaction, the executive vice president directly owned 106,353 shares in the company, valued at $8,034,969.15. The trade was a 1.57% decrease in their ownership of the stock. The transaction 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, Director Mark G. Foletta sold 4,000 shares of the business's stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $74.13, for a total transaction of $296,520.00. Following the completion of the transaction, the director owned 52,852 shares in the company, valued at approximately $3,917,918.76. The trade was a 7.04% 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 46,694 shares of company stock valued at $3,343,977 in the last 90 days. 0.28% of the stock is currently owned by company insiders.

DexCom Price Performance

DXCM stock opened at $71.25 on Friday. The stock's fifty day simple moving average is $68.31 and its two-hundred day simple moving average is $68.17. The company has a current ratio of 1.95, a quick ratio of 1.64 and a debt-to-equity ratio of 0.42. DexCom, Inc. has a 1-year low of $54.11 and a 1-year high of $89.98. The stock has a market cap of $27.49 billion, a P/E ratio of 30.45, a P/E/G ratio of 1.17 and a beta of 1.45.

DexCom (NASDAQ:DXCM - Get Free Report) last announced its earnings results on Thursday, April 30th. The medical device company reported $0.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.47 by $0.09. The firm had revenue of $1.19 billion during the quarter, compared to analyst estimates of $1.17 billion. DexCom had a return on equity of 33.33% and a net margin of 19.31%.The business's revenue was up 15.0% compared to the same quarter last year. During the same period last year, the firm posted $0.32 EPS. Analysts expect that DexCom, Inc. will post 2.57 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on DXCM. Canaccord Genuity Group set a $82.00 price objective on DexCom and gave the company a "buy" rating in a research note on Monday, May 18th. Citigroup reiterated a "buy" rating and issued a $84.00 target price (up from $79.00) on shares of DexCom in a research note on Thursday, May 28th. TD Cowen reiterated a "buy" rating and issued a $95.00 target price (up from $75.00) on shares of DexCom in a report on Wednesday, June 10th. Barclays reissued an "underweight" rating and set a $64.00 price target (down from $67.00) on shares of DexCom in a research report on Monday, May 18th. Finally, Weiss Ratings restated a "hold (c-)" rating on shares of DexCom in a report on Monday, June 1st. Two research analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, DexCom presently has a consensus rating of "Moderate Buy" and a consensus price target of $84.88.

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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