Western Financial Corp CA Makes New $1.30 Million Investment in DexCom, Inc. $DXCM

Key Points

• Western Financial Corp. CA acquired 15,125 DexCom shares worth approximately $1.30 million in the third quarter. Institutional investors collectively own 97.75% of the company.
• Analysts remain bullish, with a consensus “Buy” rating and an average price target of $92.43; three analysts rate the stock a Strong Buy, while 19 recommend Buy.
• DexCom shares recently fell 1.9% to $83.47, despite the company exceeding quarterly earnings and revenue expectations, reporting $0.70 EPS and $1.31 billion in revenue.

Western Financial Corp CA acquired a new position in DexCom, Inc. (NASDAQ:DXCM - Free Report) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 15,125 shares of the medical device company's stock, valued at approximately $1,305,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Legal & General Group Plc bought a new stake in shares of DexCom during the 2nd quarter valued at about $173,237,000. Deutsche Bank AG purchased a new position in shares of DexCom during the second quarter valued at about $164,035,000. Employees Provident Fund Board bought a new position in DexCom in the fourth quarter worth about $145,352,000. J. Stern & Co. LLP raised its stake in DexCom by 2,114.8% in the fourth quarter. J. Stern & Co. LLP now owns 1,601,973 shares of the medical device company's stock worth $106,323,000 after buying an additional 1,529,641 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in DexCom by 15.6% in the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 11,261,876 shares of the medical device company's stock worth $758,487,000 after buying an additional 1,515,702 shares in the last quarter. 97.75% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have weighed in on DXCM. Stifel Nicolaus set a $95.00 price objective on DexCom and gave the company a "buy" rating in a research report on Friday, July 31st. Argus increased their target price on DexCom from $86.00 to $96.00 and gave the stock a "buy" rating in a research report on Tuesday, August 4th. Citigroup restated a "buy" rating and issued a $88.00 target price (up from $84.00) on shares of DexCom in a research note on Friday, July 31st. UBS Group set a $96.00 target price on DexCom and gave the company a "buy" rating in a research note on Tuesday, July 28th. Finally, Mizuho set a $100.00 price target on DexCom in a research report on Tuesday. Three research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, DexCom has a consensus rating of "Buy" and an average price target of $92.43.

DexCom Stock Down 1.9%

Shares of DXCM stock traded down $1.59 during trading hours on Wednesday, hitting $83.47. 3,479,711 shares of the company's stock traded hands, compared to its average volume of 4,992,459. The company has a quick ratio of 1.43, a current ratio of 1.73 and a debt-to-equity ratio of 0.47. The stock's fifty day simple moving average is $87.49 and its two-hundred day simple moving average is $75.61. DexCom, Inc. has a 12-month low of $54.11 and a 12-month high of $92.59. The stock has a market cap of $31.50 billion, a price-to-earnings ratio of 32.99, a PEG ratio of 1.44 and a beta of 1.48.

DexCom (NASDAQ:DXCM - Get Free Report) last posted 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. DexCom had a return on equity of 35.94% and a net margin of 20.12%. The company had revenue of $1.31 billion for the quarter, compared to the consensus estimate of $1.29 billion. During the same quarter in the prior year, the business posted $0.48 EPS. The firm's quarterly revenue was up 13.1% compared to the same quarter last year. On average, analysts expect that DexCom, Inc. will post 2.64 EPS for the current year.

Insiders Place Their Bets

In other news, Director Nicholas Augustinos sold 6,539 shares of the firm's stock in a transaction on Tuesday, September 15th. The stock was sold at an average price of $84.04, for a total transaction of $549,537.56. Following the completion of the transaction, the director directly owned 29,293 shares in the company, valued at $2,461,783.72. This trade represents a 18.25% decrease in their ownership of the stock. The sale 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, EVP Michael Brown sold 1,700 shares of DexCom stock in a transaction dated Tuesday, September 15th. The stock was sold at an average price of $84.04, for a total value of $142,868.00. Following the completion of the transaction, the executive vice president directly owned 99,885 shares of the company's stock, valued at approximately $8,394,335.40. This represents a 1.67% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 49,313 shares of company stock valued at $3,945,875. Company insiders own 0.28% of the company's stock.

DexCom Company Profile

DexCom, Inc NASDAQ: DXCM develops and commercializes continuous glucose monitoring (CGM) systems for people with diabetes. Its technology uses a small wearable sensor to measure glucose levels continuously and transmit readings to a compatible receiver, smartphone or other connected device, helping users monitor glucose trends and make more informed treatment and lifestyle decisions.

The company's product portfolio includes the Dexcom G7 and Dexcom G6 real-time CGM systems, as well as related software and digital health tools such as Dexcom Clarity for glucose data analysis and reporting.

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