Maverick Capital Ltd. Invests $1.89 Million in DexCom, Inc. (NASDAQ:DXCM)

Maverick Capital Ltd. bought a new stake in DexCom, Inc. (NASDAQ:DXCM) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 16,664 shares of the medical device company’s stock, valued at approximately $1,889,000.

Several other hedge funds have also recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its stake in shares of DexCom by 0.3% in the 1st quarter. Vanguard Group Inc. now owns 44,603,745 shares of the medical device company’s stock valued at $6,186,539,000 after purchasing an additional 136,282 shares during the period. Capital Research Global Investors grew its position 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 acquiring an additional 2,695,296 shares during the period. Sands Capital Management LLC grew its position 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 acquiring an additional 1,398,136 shares during the period. Capital World Investors raised its stake in DexCom by 130.7% during the fourth quarter. Capital World Investors now owns 9,278,685 shares of the medical device company’s stock worth $1,151,392,000 after acquiring an additional 5,256,092 shares in the last quarter. Finally, Blair William & Co. IL lifted its holdings in shares of DexCom by 1.4% during the first quarter. Blair William & Co. IL now owns 4,532,687 shares of the medical device company’s stock valued at $628,684,000 after acquiring an additional 64,683 shares during the period. Institutional investors and hedge funds own 97.75% of the company’s stock.

Insider Transactions at DexCom

In other DexCom news, EVP Sadie Stern sold 426 shares of the stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $69.15, for a total value of $29,457.90. Following the transaction, the executive vice president now owns 75,451 shares of the company’s stock, valued at $5,217,436.65. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, EVP Sadie Stern sold 426 shares of the business’s stock in a transaction that occurred on 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 owns 75,451 shares in the company, valued at $5,217,436.65. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, COO Jacob Steven Leach sold 746 shares of the stock in a transaction 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 completion of the sale, the chief operating officer now owns 264,915 shares in the company, valued at $18,318,872.25. The disclosure for this sale can be found here. Insiders have sold 1,824 shares of company stock worth $126,390 in the last three months. Insiders own 0.30% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on DXCM shares. Oppenheimer lowered their target price on shares of DexCom from $150.00 to $115.00 and set an “outperform” rating on the stock in a report on Friday, July 26th. Piper Sandler reaffirmed an “overweight” rating and set a $90.00 price objective on shares of DexCom in a research note on Monday, August 26th. JPMorgan Chase & Co. lowered shares of DexCom from an “overweight” rating to a “neutral” rating and dropped their price objective for the stock from $145.00 to $75.00 in a report on Friday, July 26th. BTIG Research reduced their target price on DexCom from $156.00 to $120.00 and set a “buy” rating on the stock in a report on Friday, July 26th. Finally, Canaccord Genuity Group reaffirmed a “buy” rating and set a $145.00 price target on shares of DexCom in a report on Tuesday, July 23rd. 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 company’s stock. Based on data from MarketBeat.com, DexCom has a consensus rating of “Moderate Buy” and a consensus price target of $112.25.

DexCom Stock Performance

Shares of NASDAQ:DXCM opened at $67.29 on Friday. 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, Inc. has a 1-year low of $62.34 and a 1-year high of $142.00. The stock has a market capitalization of $26.76 billion, a P/E ratio of 43.41, a P/E/G ratio of 2.16 and a beta of 1.18. The business has a 50-day moving average price of $74.55 and a two-hundred day moving average price of $107.88.

DexCom (NASDAQ:DXCM) last announced its quarterly earnings data 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 analyst estimates of $1.04 billion. During the same period in the prior year, the business posted $0.34 earnings per share. DexCom’s revenue was up 15.3% compared to the same quarter last year. Equities analysts predict that DexCom, Inc. will post 1.69 earnings per share for the current year.

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.