Stevens Capital Management LP Makes New $583,000 Investment in DexCom, Inc. (NASDAQ:DXCM)

Key Points

• Stevens Capital Management LP has invested approximately $583,000 in DexCom, Inc., acquiring 8,544 shares of the medical device company in Q1.
• Insider transactions revealed that Director Nicholas Augustinos and EVP Michael Jon Brown sold significant amounts of DexCom stock, indicating a decrease in their ownership.
• Analysts are generally positive on DexCom, with several firms adjusting their price targets, including Robert W. Baird lowering theirs from $115.00 to $105.00 while still maintaining an "outperform" rating.

Stevens Capital Management LP acquired a new position in shares of DexCom, Inc. (NASDAQ:DXCM - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 8,544 shares of the medical device company's stock, valued at approximately $583,000.

Other hedge funds have also recently bought and sold shares of the company. Golden State Wealth Management LLC grew its position in shares of DexCom by 211.2% during the 1st quarter. Golden State Wealth Management LLC now owns 389 shares of the medical device company's stock worth $27,000 after purchasing an additional 264 shares in the last quarter. Optiver Holding B.V. acquired a new stake in shares of DexCom in the fourth quarter valued at approximately $33,000. TD Private Client Wealth LLC raised its position in shares of DexCom by 62.8% in the fourth quarter. TD Private Client Wealth LLC now owns 433 shares of the medical device company's stock valued at $34,000 after buying an additional 167 shares in the last quarter. Heck Capital Advisors LLC acquired a new stake in shares of DexCom in the fourth quarter valued at approximately $38,000. Finally, Alpine Bank Wealth Management acquired a new stake in shares of DexCom in the first quarter valued at approximately $40,000. 97.75% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at DexCom

In other news, Director Nicholas Augustinos sold 3,672 shares of the company's stock in a transaction that occurred on Monday, June 16th. The stock was sold at an average price of $82.80, for a total value of $304,041.60. Following the completion of the transaction, the director owned 33,411 shares of the company's stock, valued at $2,766,430.80. This represents a 9.90% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Michael Jon Brown sold 10,000 shares of the company's stock in a transaction that occurred on Friday, May 23rd. The shares were sold at an average price of $84.28, for a total value of $842,800.00. Following the completion of the transaction, the executive vice president directly owned 95,602 shares of the company's stock, valued at $8,057,336.56. This represents a 9.47% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 27,190 shares of company stock worth $2,281,732. 0.32% of the stock is owned by corporate insiders.

DexCom Trading Up 0.4%

DXCM opened at $86.74 on Friday. The company's 50 day moving average is $84.51 and its 200-day moving average is $80.34. DexCom, Inc. has a 1-year low of $57.52 and a 1-year high of $112.55. The company has a current ratio of 1.50, a quick ratio of 1.32 and a debt-to-equity ratio of 0.55. The company has a market cap of $34.01 billion, a P/E ratio of 64.73, a PEG ratio of 1.84 and a beta of 1.44.

DexCom (NASDAQ:DXCM - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The medical device company reported $0.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.33 by ($0.01). DexCom had a net margin of 12.90% and a return on equity of 30.05%. The firm had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1.02 billion. During the same period in the prior year, the company earned $0.32 EPS. The business's quarterly revenue was up 12.5% compared to the same quarter last year. Equities research analysts predict that DexCom, Inc. will post 2.03 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on DXCM shares. Robert W. Baird dropped their price target on shares of DexCom from $115.00 to $105.00 and set an "outperform" rating for the company in a research report on Friday, May 2nd. The Goldman Sachs Group began coverage on shares of DexCom in a research note on Friday, May 30th. They set a "buy" rating and a $104.00 price objective on the stock. Citigroup reiterated a "buy" rating and set a $102.00 price objective (up from $82.00) on shares of DexCom in a research note on Thursday, May 22nd. Morgan Stanley boosted their target price on shares of DexCom from $82.00 to $89.00 and gave the company an "equal weight" rating in a research report on Tuesday, July 15th. Finally, Wall Street Zen upgraded shares of DexCom from a "hold" rating to a "buy" rating in a research report on Friday, July 18th. Four investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $99.60.

About DexCom

DexCom, Inc, a medical device company, focuses on the design, development, and commercialization of continuous glucose monitoring (CGM) systems in the United States and internationally. The company provides its systems for use by people with diabetes, as well as for use by healthcare providers. Its products include Dexcom G6 and Dexcom G7, integrated CGM systems for diabetes management; Dexcom Share, a remote monitoring system; Dexcom Real-Time API, which enables authorized third-party software developers to integrate real-time CGM data into their digital health apps and devices; and Dexcom ONE, that is designed to replace finger stick blood glucose testing for diabetes treatment decisions.

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