True Freedom Investing LLC Makes New Investment in DexCom, Inc. $DXCM

Key Points

• True Freedom Investing LLC purchased 53,078 DexCom shares during the second quarter, valued at approximately $3.33 million. Institutional investors collectively own 97.75% of DXCM.
• DexCom reported quarterly earnings of $0.70 per share, exceeding estimates by $0.09, while revenue rose 13.1% year over year to $1.31 billion.
• Analysts maintain a generally positive view, with a consensus “Moderate Buy” rating and an average price target of $88.71; however, insiders have sold 73,035 shares worth about $5.45 million over the past 90 days.

True Freedom Investing LLC purchased a new stake in shares of DexCom, Inc. (NASDAQ:DXCM - Free Report) during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 53,078 shares of the medical device company's stock, valued at approximately $3,333,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in DXCM. Geode Capital Management LLC lifted its stake in shares of DexCom by 0.4% during the fourth quarter. Geode Capital Management LLC now owns 11,006,183 shares of the medical device company's stock worth $727,842,000 after buying an additional 42,411 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of 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 valued at $530,897,000 after acquiring an additional 516,526 shares during the period. Norges Bank purchased a new position in DexCom in the 4th quarter worth $483,356,000. Invesco Ltd. raised its stake in DexCom by 14.8% in the 4th quarter. Invesco Ltd. now owns 5,315,367 shares of the medical device company's stock worth $352,781,000 after acquiring an additional 686,228 shares during the last quarter. Finally, CIBC Private Wealth Group LLC lifted its position in DexCom by 7.6% during the 4th quarter. CIBC Private Wealth Group LLC now owns 3,128,114 shares of the medical device company's stock worth $207,613,000 after acquiring an additional 220,313 shares during the period. Hedge funds and other institutional investors own 97.75% of the company's stock.

DexCom Trading Up 2.3%

NASDAQ DXCM opened at $92.34 on Friday. DexCom, Inc. has a 1 year low of $54.11 and a 1 year high of $92.56. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.73 and a quick ratio of 1.43. The company has a market capitalization of $34.85 billion, a PE ratio of 36.50, a P/E/G ratio of 1.56 and a beta of 1.41. The company has a fifty day moving average of $77.49 and a 200 day moving average of $70.94.

DexCom (NASDAQ:DXCM - Get Free Report) last announced its quarterly earnings results on Thursday, July 30th. The medical device company reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.61 by $0.09. The company had revenue of $1.31 billion for the quarter, compared to the consensus estimate of $1.29 billion. DexCom had a return on equity of 35.94% and a net margin of 20.12%.The firm's revenue for the quarter was up 13.1% compared to the same quarter last year. During the same period last year, the firm earned $0.48 EPS. Research analysts forecast that DexCom, Inc. will post 2.64 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Mark G. Foletta sold 2,000 shares of the firm's stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $85.32, for a total transaction of $170,640.00. Following the sale, the director directly owned 48,852 shares of the company's stock, valued at $4,168,052.64. This trade represents a 3.93% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Kevin R. Sayer sold 26,756 shares of DexCom stock in a transaction that occurred on Monday, July 20th. The shares were sold at an average price of $76.32, for a total value of $2,042,017.92. Following the transaction, the insider owned 328,970 shares of the company's stock, valued at approximately $25,106,990.40. This represents a 7.52% 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 73,035 shares of company stock worth $5,446,673 over the last ninety days. 0.28% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research firms have weighed in on DXCM. Weiss Ratings upgraded DexCom from a "hold (c-)" rating to a "hold (c)" rating in a research note on Tuesday, August 11th. Canaccord Genuity Group set a $90.00 price objective on DexCom and gave the stock a "buy" rating in a research note on Monday, August 3rd. Wall Street Zen downgraded DexCom from a "strong-buy" rating to a "buy" rating in a report on Sunday, May 10th. Raymond James Financial reiterated a "strong-buy" rating and issued a $94.00 target price on shares of DexCom in a research report on Friday, July 31st. Finally, Royal Bank Of Canada increased their price target on shares of DexCom from $85.00 to $90.00 and gave the stock an "outperform" rating in a report on Friday, July 31st. 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 stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $88.71.

DexCom Company 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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