Teachers Retirement System of The State of Kentucky Boosts Stock Holdings in DexCom, Inc. (NASDAQ:DXCM)

Teachers Retirement System of The State of Kentucky lifted its holdings in DexCom, Inc. (NASDAQ:DXCM - Free Report) by 16.7% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 136,968 shares of the medical device company's stock after purchasing an additional 19,607 shares during the quarter. Teachers Retirement System of The State of Kentucky's holdings in DexCom were worth $9,353,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Brighton Jones LLC raised its position in DexCom by 257.7% in the 4th quarter. Brighton Jones LLC now owns 16,582 shares of the medical device company's stock worth $1,290,000 after purchasing an additional 11,946 shares during the period. Bank Pictet & Cie Europe AG increased its position in DexCom by 1.8% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 111,063 shares of the medical device company's stock valued at $8,637,000 after purchasing an additional 2,010 shares during the period. Avantax Advisory Services Inc. boosted its position in DexCom by 34.4% during the 4th quarter. Avantax Advisory Services Inc. now owns 7,184 shares of the medical device company's stock valued at $559,000 after acquiring an additional 1,840 shares in the last quarter. Envestnet Portfolio Solutions Inc. lifted its stake in shares of DexCom by 30.5% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 16,159 shares of the medical device company's stock worth $1,257,000 after purchasing an additional 3,778 shares during the last quarter. Finally, Royal London Asset Management Ltd. raised its holdings in DexCom by 4.7% in the fourth quarter. Royal London Asset Management Ltd. now owns 170,949 shares of the medical device company's stock worth $13,295,000 after purchasing an additional 7,711 shares in the last quarter. 97.75% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other DexCom news, Director Mark G. Foletta sold 2,750 shares of DexCom stock in a transaction that occurred on Monday, June 16th. The stock was sold at an average price of $83.13, for a total transaction of $228,607.50. Following the transaction, the director owned 56,621 shares of the company's stock, valued at $4,706,903.73. The trade was a 4.63% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Nicholas Augustinos sold 3,672 shares of the firm's stock in a transaction on Monday, June 16th. The shares were sold at an average price of $82.80, for a total value of $304,041.60. Following the completion of the sale, the director directly owned 33,411 shares of the company's stock, valued at approximately $2,766,430.80. This trade represents a 9.90% 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 Price Performance

NASDAQ:DXCM opened at $83.89 on Monday. The company has a quick ratio of 1.32, a current ratio of 1.50 and a debt-to-equity ratio of 0.55. DexCom, Inc. has a 52 week low of $57.52 and a 52 week high of $113.28. The stock has a market capitalization of $32.89 billion, a PE ratio of 62.60, a price-to-earnings-growth ratio of 1.79 and a beta of 1.44. The stock's 50-day moving average price is $84.49 and its 200-day moving average price is $80.20.

DexCom (NASDAQ:DXCM - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The medical device company reported $0.32 EPS for the quarter, missing the consensus estimate of $0.33 by ($0.01). The company had revenue of $1.04 billion for the quarter, compared to analysts' expectations of $1.02 billion. DexCom had a return on equity of 30.05% and a net margin of 12.90%. The firm's revenue was up 12.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.32 EPS. As a group, equities analysts expect that DexCom, Inc. will post 2.03 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. Morgan Stanley raised their price objective on DexCom from $82.00 to $89.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 15th. Truist Financial initiated coverage on shares of DexCom in a report on Monday, June 16th. They set a "buy" rating and a $102.00 price objective on the stock. Mizuho lifted their target price on shares of DexCom from $95.00 to $100.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 16th. The Goldman Sachs Group began coverage on shares of DexCom in a research report on Friday, May 30th. They set a "buy" rating and a $104.00 target price on the stock. Finally, Piper Sandler decreased their price target on shares of DexCom from $100.00 to $90.00 and set an "overweight" rating for the company in a report on Friday, May 2nd. Four equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus 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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