BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Boosts Stake in DexCom, Inc. (NASDAQ:DXCM)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its holdings in shares of DexCom, Inc. (NASDAQ:DXCM) by 59.6% in the 2nd quarter, Holdings Channel reports. The fund owned 73,835 shares of the medical device company’s stock after acquiring an additional 27,559 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in DexCom were worth $8,371,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Vanguard Group Inc. increased its position in DexCom by 0.3% in the first quarter. Vanguard Group Inc. now owns 44,603,745 shares of the medical device company’s stock worth $6,186,539,000 after buying an additional 136,282 shares during the period. Capital Research Global Investors increased its holdings in shares of DexCom by 21.4% in the 4th quarter. Capital Research Global Investors now owns 15,296,032 shares of the medical device company’s stock worth $1,898,085,000 after acquiring an additional 2,695,296 shares during the period. Sands Capital Management LLC lifted its position in DexCom by 10.2% in the 4th 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 last quarter. Capital World Investors boosted its stake in DexCom by 130.7% during the 4th 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. Finally, Blair William & Co. IL grew its position in DexCom by 1.4% in the 1st quarter. Blair William & Co. IL now owns 4,532,687 shares of the medical device company’s stock worth $628,684,000 after purchasing an additional 64,683 shares during the last quarter. 97.75% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at DexCom

In other news, EVP Sadie Stern sold 426 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 $29,457.90. Following the sale, the executive vice president now owns 75,451 shares of the company’s stock, valued at approximately $5,217,436.65. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, EVP Sadie Stern sold 426 shares of the firm’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $69.15, for a total transaction of $29,457.90. Following the completion of the transaction, the executive vice president now directly owns 75,451 shares of the company’s stock, valued at approximately $5,217,436.65. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Jacob Steven Leach sold 746 shares of the company’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $69.15, for a total transaction of $51,585.90. Following the completion of the sale, 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. Insiders sold a total of 2,483 shares of company stock valued at $201,708 in the last quarter. Corporate insiders own 0.30% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently commented on DXCM shares. Redburn Atlantic initiated coverage on DexCom in a research report on Thursday, May 30th. They issued a “neutral” rating and a $130.00 target price on the stock. Barclays dropped their price target on DexCom from $138.00 to $113.00 and set an “equal weight” rating on the stock in a research note on Monday, July 29th. BTIG Research decreased their target price on shares of DexCom from $156.00 to $120.00 and set a “buy” rating for the company in a report on Friday, July 26th. Robert W. Baird boosted their price target on shares of DexCom from $80.00 to $82.00 and gave the company a “neutral” rating in a report on Monday, August 5th. Finally, Royal Bank of Canada cut their target price on shares of DexCom from $165.00 to $145.00 and set an “outperform” rating on the stock in a research note on Friday, July 26th. Six analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $112.25.

DexCom Trading Down 2.8 %

Shares of DexCom stock opened at $66.73 on Thursday. DexCom, Inc. has a 1 year low of $62.34 and a 1 year high of $142.00. The company’s fifty day simple moving average is $75.42 and its 200-day simple moving average is $108.17. The company has a market cap of $26.54 billion, a price-to-earnings ratio of 43.05, a PEG ratio of 2.16 and a beta of 1.18. The company has a current ratio of 2.82, a quick ratio of 2.48 and a debt-to-equity ratio of 1.00.

DexCom (NASDAQ:DXCM) last posted its quarterly earnings results on Thursday, July 25th. The medical device company reported $0.43 earnings per share (EPS) for the quarter, topping 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 company had revenue of $1 billion for the quarter, compared to analyst estimates of $1.04 billion. During the same period last year, the business posted $0.34 EPS. The business’s quarterly revenue was up 15.3% on a year-over-year basis. As a group, sell-side analysts expect that DexCom, Inc. will post 1.69 EPS for the current year.

About DexCom

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.