Teachers Retirement System of The State of Kentucky Acquires 72,700 Shares of DexCom, Inc. $DXCM

Key Points

• Teachers Retirement System of The State of Kentucky increased its DexCom stake by 30.4% in the first quarter, buying 72,700 more shares and bringing its total holding to 311,905 shares worth about $19.6 million.
• DexCom also saw notable insider selling, including EVP Jon Coleman and CEO Kevin R. Sayer, with insiders selling 73,450 shares over the last 90 days. Corporate insiders now own just 0.28% of the company.
• The company reported stronger-than-expected first-quarter results, posting $0.56 EPS on $1.19 billion in revenue, and analysts currently rate the stock a Moderate Buy with an average price target of $84.88.

Teachers Retirement System of The State of Kentucky lifted its stake in shares of DexCom, Inc. (NASDAQ:DXCM - Free Report) by 30.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 311,905 shares of the medical device company's stock after acquiring an additional 72,700 shares during the period. Teachers Retirement System of The State of Kentucky owned approximately 0.08% of DexCom worth $19,588,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in DXCM. Procyon Advisors LLC acquired a new stake in shares of DexCom in the first quarter valued at approximately $242,000. Fifth Third Bancorp boosted its holdings in DexCom by 206.0% during the first quarter. Fifth Third Bancorp now owns 75,907 shares of the medical device company's stock worth $4,767,000 after purchasing an additional 51,097 shares during the last quarter. Sequoia Financial Advisors LLC boosted its holdings in DexCom by 14.2% during the first quarter. Sequoia Financial Advisors LLC now owns 16,607 shares of the medical device company's stock worth $1,043,000 after purchasing an additional 2,062 shares during the last quarter. Fulcrum Capital LLC grew its position in DexCom by 8.9% in the first quarter. Fulcrum Capital LLC now owns 44,740 shares of the medical device company's stock valued at $2,810,000 after purchasing an additional 3,654 shares in the last quarter. Finally, Peterson Wealth Services increased its stake in DexCom by 68.7% in the 1st quarter. Peterson Wealth Services now owns 9,347 shares of the medical device company's stock valued at $587,000 after buying an additional 3,808 shares during the last quarter. Institutional investors own 97.75% of the company's stock.

Insider Transactions at DexCom

In related news, EVP Jon Coleman sold 4,912 shares of the firm's stock in a transaction that occurred on Wednesday, June 3rd. The shares were sold at an average price of $73.00, for a total value of $358,576.00. Following the completion of the transaction, the executive vice president owned 100,361 shares in the company, valued at $7,326,353. This trade represents a 4.67% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 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 on Thursday, May 21st. The stock was sold at an average price of $72.00, for a total transaction of $1,926,648.00. Following the completion of the sale, the insider directly owned 382,482 shares in the company, valued at approximately $27,538,704. This represents a 6.54% 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. In the last ninety days, insiders sold 73,450 shares of company stock valued at $5,270,409. 0.28% of the stock is currently owned by corporate insiders.

DexCom Trading Up 1.9%

Shares of DXCM stock opened at $76.35 on Tuesday. The stock has a market cap of $29.46 billion, a P/E ratio of 32.63, a price-to-earnings-growth ratio of 1.23 and a beta of 1.45. DexCom, Inc. has a 1 year low of $54.11 and a 1 year high of $89.98. The company has a current ratio of 1.95, a quick ratio of 1.64 and a debt-to-equity ratio of 0.42. The stock has a 50 day simple moving average of $69.95 and a 200 day simple moving average of $68.51.

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

Wall Street Analyst Weigh In

Several analysts recently issued reports on DXCM shares. UBS Group set a $95.00 target price on DexCom in a report on Wednesday, June 10th. Weiss Ratings raised DexCom from a "hold (c-)" rating to a "hold (c)" rating in a research report on Wednesday, July 8th. Sanford C. Bernstein set a $77.00 price objective on DexCom in a research note on Friday, May 1st. William Blair raised DexCom to a "strong-buy" rating in a report on Friday, May 15th. Finally, Canaccord Genuity Group set a $82.00 target price on shares of DexCom and gave the company a "buy" rating in a research note on Monday, May 18th. Two research analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price 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.

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.