Weiss Asset Management LP Invests $7.58 Million in DexCom, Inc. $DXCM

Key Points

• Weiss Asset Management opened a new position in DexCom during the first quarter, buying 120,760 shares worth about $7.58 million.
• DexCom reported strong quarterly results, with EPS of $0.56 beating estimates and revenue of $1.19 billion topping forecasts, while revenue grew 15% year over year.
• Despite some insider selling, analysts remain broadly positive on the stock, with DexCom holding a “Moderate Buy” consensus and an average price target of $85.36.

Weiss Asset Management LP purchased a new stake in shares of DexCom, Inc. (NASDAQ:DXCM - Free Report) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 120,760 shares of the medical device company's stock, valued at approximately $7,584,000.

Several other institutional investors also recently modified their holdings of the business. Brighton Jones LLC boosted its holdings in shares of DexCom by 257.7% during the 4th quarter. Brighton Jones LLC now owns 16,582 shares of the medical device company's stock valued at $1,290,000 after acquiring an additional 11,946 shares during the last quarter. Integrated Wealth Concepts LLC raised its holdings in shares of DexCom by 6.3% during the first quarter. Integrated Wealth Concepts LLC now owns 3,329 shares of the medical device company's stock valued at $227,000 after purchasing an additional 196 shares during the last quarter. Empowered Funds LLC raised its holdings in shares of DexCom by 5.4% during the first quarter. Empowered Funds LLC now owns 8,446 shares of the medical device company's stock valued at $577,000 after purchasing an additional 436 shares during the last quarter. Focus Partners Wealth lifted its position in DexCom by 13.2% during the first quarter. Focus Partners Wealth now owns 7,218 shares of the medical device company's stock valued at $493,000 after purchasing an additional 841 shares during the period. Finally, NewEdge Advisors LLC lifted its position in DexCom by 1.4% during the second quarter. NewEdge Advisors LLC now owns 19,253 shares of the medical device company's stock valued at $1,681,000 after purchasing an additional 258 shares during the period. 97.75% of the stock is owned by hedge funds and other institutional investors.

DexCom Trading Up 1.5%

Shares of NASDAQ:DXCM opened at $71.54 on Friday. DexCom, Inc. has a 12-month low of $54.11 and a 12-month high of $89.98. The company has a market cap of $27.61 billion, a PE ratio of 30.57, a price-to-earnings-growth ratio of 1.18 and a beta of 1.45. The stock has a 50 day moving average of $72.46 and a 200 day moving average of $68.94. The company has a current ratio of 1.95, a quick ratio of 1.64 and a debt-to-equity ratio of 0.42.

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, beating the consensus estimate of $0.47 by $0.09. The business had revenue of $1.19 billion for 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 company's revenue for the quarter was up 15.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.32 earnings per share. As a group, equities research analysts expect that DexCom, Inc. will post 2.57 EPS for the current year.

Insider Buying and Selling

In other DexCom news, EVP Jon Coleman sold 4,912 shares of the firm's stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of $73.00, for a total transaction of $358,576.00. Following the sale, the executive vice president directly owned 100,361 shares of the company's stock, valued at $7,326,353. This trade represents a 4.67% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Bridgette P. Heller sold 1,012 shares of the company's stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $60.01, for a total value of $60,730.12. Following the completion of the transaction, the director directly owned 25,007 shares of the company's stock, valued at approximately $1,500,670.07. This trade represents a 3.89% 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 have sold a total of 71,750 shares of company stock worth $5,163,241 in the last three months. Corporate insiders own 0.28% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on DXCM shares. Benchmark reaffirmed a "buy" rating on shares of DexCom in a research report on Tuesday, June 23rd. Citigroup restated a "buy" rating and issued a $84.00 price target (up from $79.00) on shares of DexCom in a research note on Thursday, May 28th. Wall Street Zen lowered DexCom from a "strong-buy" rating to a "buy" rating in a report on Sunday, May 10th. Bank of America reduced their price objective on DexCom from $100.00 to $80.00 and set a "buy" rating for the company in a research report on Monday, May 18th. Finally, Robert W. Baird set a $80.00 target price on DexCom in a report on Friday, May 1st. Two investment 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. According to data from MarketBeat.com, DexCom currently has an average rating of "Moderate Buy" and an average price target of $85.36.

DexCom 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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