Avalon Global Asset Management LLC Purchases 10,200 Shares of DexCom, Inc. (NASDAQ:DXCM)

Avalon Global Asset Management LLC grew its position in DexCom, Inc. (NASDAQ:DXCM) by 25.5% in the second quarter, Holdings Channel reports. The fund owned 50,200 shares of the medical device company’s stock after acquiring an additional 10,200 shares during the quarter. DexCom accounts for 1.3% of Avalon Global Asset Management LLC’s portfolio, making the stock its 24th largest holding. Avalon Global Asset Management LLC’s holdings in DexCom were worth $5,692,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Capital World Investors increased its holdings in DexCom by 130.7% in the fourth quarter. Capital World Investors now owns 9,278,685 shares of the medical device company’s stock valued at $1,151,392,000 after purchasing an additional 5,256,092 shares during the period. Artisan Partners Limited Partnership increased its holdings in DexCom by 164.8% in the fourth quarter. Artisan Partners Limited Partnership now owns 5,900,308 shares of the medical device company’s stock valued at $732,169,000 after purchasing an additional 3,672,471 shares during the period. Capital Research Global Investors increased its holdings in DexCom by 21.4% in the fourth quarter. Capital Research Global Investors now owns 15,296,032 shares of the medical device company’s stock valued at $1,898,085,000 after purchasing an additional 2,695,296 shares during the period. Sands Capital Management LLC increased its holdings in DexCom by 10.2% in the fourth quarter. Sands Capital Management LLC now owns 15,058,806 shares of the medical device company’s stock valued at $1,868,647,000 after purchasing an additional 1,398,136 shares during the period. Finally, Congress Asset Management Co. MA increased its holdings in DexCom by 2,076.3% in the fourth quarter. Congress Asset Management Co. MA now owns 1,126,382 shares of the medical device company’s stock valued at $139,773,000 after purchasing an additional 1,074,626 shares during the period. 97.75% of the stock is currently owned by institutional investors.

DexCom Price Performance

Shares of NASDAQ DXCM opened at $70.43 on Friday. DexCom, Inc. has a fifty-two week low of $62.34 and a fifty-two week high of $142.00. The stock has a market cap of $28.01 billion, a price-to-earnings ratio of 45.44, a PEG ratio of 2.12 and a beta of 1.18. The company has a debt-to-equity ratio of 1.00, a quick ratio of 2.48 and a current ratio of 2.82. The firm’s 50-day simple moving average is $78.19 and its 200 day simple moving average is $109.63.

DexCom (NASDAQ:DXCM) last announced its quarterly earnings results on Thursday, July 25th. The medical device company reported $0.43 earnings per share for the quarter, beating the consensus estimate of $0.39 by $0.04. DexCom had a net margin of 16.95% and a return on equity of 31.41%. The business had revenue of $1 billion for the quarter, compared to analysts’ expectations of $1.04 billion. During the same quarter last year, the firm earned $0.34 EPS. The firm’s revenue for the quarter was up 15.3% compared to the same quarter last year. As a group, research analysts anticipate that DexCom, Inc. will post 1.69 earnings per share for the current fiscal year.

Insider Activity at DexCom

In other DexCom news, EVP Michael Jon Brown sold 659 shares of DexCom stock in a transaction that occurred on Friday, June 28th. The shares were sold at an average price of $114.29, for a total transaction of $75,317.11. Following the transaction, the executive vice president now owns 66,901 shares of the company’s stock, valued at approximately $7,646,115.29. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other DexCom news, EVP Michael Jon Brown sold 659 shares of DexCom stock in a transaction that occurred on Friday, June 28th. The shares were sold at an average price of $114.29, for a total transaction of $75,317.11. Following the transaction, the executive vice president now owns 66,901 shares of the company’s stock, valued at approximately $7,646,115.29. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Jacob Steven Leach sold 746 shares of DexCom stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $69.15, for a total transaction of $51,585.90. Following the transaction, the chief operating officer now directly owns 264,915 shares in the company, valued at approximately $18,318,872.25. The disclosure for this sale can be found here. In the last quarter, insiders have sold 2,483 shares of company stock valued at $201,708. 0.30% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of research firms recently weighed in on DXCM. Stifel Nicolaus increased their price objective on DexCom from $90.00 to $100.00 and gave the company a “buy” rating in a report on Friday, August 23rd. Canaccord Genuity Group reiterated a “buy” rating and set a $145.00 price target on shares of DexCom in a report on Tuesday, July 23rd. Redburn Atlantic started coverage on DexCom in a report on Thursday, May 30th. They set a “neutral” rating and a $130.00 price target for the company. Royal Bank of Canada decreased their price target on DexCom from $165.00 to $145.00 and set an “outperform” rating for the company in a report on Friday, July 26th. Finally, Morgan Stanley decreased their price target on DexCom from $120.00 to $75.00 and set an “equal weight” rating for the company in a report on Friday, July 26th. Seven research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, DexCom currently has an average rating of “Moderate Buy” and an average target price of $112.25.

DexCom Company Profile

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.