USS Investment Management Ltd Grows Stock Holdings in DexCom, Inc. $DXCM

Key Points

• USS Investment Management Ltd boosted its DexCom stake by 342.7% in the first quarter, ending with 396,128 shares valued at about $24.9 million.
• DexCom recently reported better-than-expected quarterly results, posting EPS of $0.56 versus estimates of $0.47 and revenue of $1.19 billion, up 15% year over year.
• Wall Street remains broadly positive on the stock, with a Moderate Buy consensus and an average price target of $84.88, though some insiders have recently sold shares.

USS Investment Management Ltd grew its position in shares of DexCom, Inc. (NASDAQ:DXCM - Free Report) by 342.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 396,128 shares of the medical device company's stock after purchasing an additional 306,648 shares during the period. USS Investment Management Ltd owned about 0.10% of DexCom worth $24,879,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. IFM Investors Pty Ltd increased its position in shares of DexCom by 2.9% during the 1st quarter. IFM Investors Pty Ltd now owns 84,623 shares of the medical device company's stock valued at $5,314,000 after purchasing an additional 2,406 shares during the last quarter. iA Global Asset Management Inc. lifted its position in DexCom by 13.9% in the 1st quarter. iA Global Asset Management Inc. now owns 55,245 shares of the medical device company's stock worth $3,469,000 after buying an additional 6,757 shares during the last quarter. Caliber Wealth Management LLC KS lifted its position in DexCom by 27.8% in the 1st quarter. Caliber Wealth Management LLC KS now owns 26,900 shares of the medical device company's stock worth $1,689,000 after buying an additional 5,853 shares during the last quarter. Lansforsakringar Fondforvaltning AB publ lifted its position in DexCom by 32.5% in the 1st quarter. Lansforsakringar Fondforvaltning AB publ now owns 5,458 shares of the medical device company's stock worth $343,000 after buying an additional 1,340 shares during the last quarter. Finally, Apollon Wealth Management LLC boosted its stake in DexCom by 31.2% in the first quarter. Apollon Wealth Management LLC now owns 21,420 shares of the medical device company's stock worth $1,345,000 after buying an additional 5,099 shares in the last quarter. 97.75% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the stock. Sanford C. Bernstein set a $77.00 price target on shares of DexCom in a research report on Friday, May 1st. Robert W. Baird set a $80.00 price objective on shares of DexCom in a report on Friday, May 1st. Wall Street Zen cut shares of DexCom from a "strong-buy" rating to a "buy" rating in a research note on Sunday, May 10th. TD Cowen reaffirmed a "buy" rating and set a $95.00 target price (up from $75.00) on shares of DexCom in a report on Wednesday, June 10th. Finally, Raymond James Financial reiterated a "strong-buy" rating and issued a $91.00 target price on shares of DexCom in a research report on Monday, June 8th. Two research analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, DexCom presently has a consensus rating of "Moderate Buy" and an average price target of $84.88.

DexCom Price Performance

Shares of DexCom stock opened at $67.35 on Wednesday. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.95 and a quick ratio of 1.64. DexCom, Inc. has a one year low of $54.11 and a one year high of $89.98. The business's 50 day simple moving average is $67.89 and its two-hundred day simple moving average is $68.12. The stock has a market capitalization of $25.99 billion, a P/E ratio of 28.78, a price-to-earnings-growth ratio of 1.15 and a beta of 1.45.

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

Insider Activity at DexCom

In other DexCom news, EVP Jon Coleman sold 4,911 shares of the stock in a transaction on Thursday, June 4th. The shares were sold at an average price of $74.13, for a total transaction of $364,052.43. Following the completion of the sale, the executive vice president owned 95,450 shares of the company's stock, valued at $7,075,708.50. This represents a 4.89% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at 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 firm's stock in a transaction on Monday, June 15th. The stock was sold at an average price of $74.13, for a total transaction of $296,520.00. Following the completion of the sale, the director directly owned 52,852 shares in the company, valued at approximately $3,917,918.76. This trade represents a 7.04% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 46,694 shares of company stock worth $3,343,977 over the last ninety days. Insiders own 0.28% of the company's stock.

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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