Casdin Capital LLC Takes Position in DexCom, Inc. $DXCM

Casdin Capital LLC purchased a new stake in shares of DexCom, Inc. (NASDAQ:DXCM) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 175,000 shares of the medical device company’s stock, valued at approximately $11,615,000. DexCom makes up approximately 0.7% of Casdin Capital LLC’s portfolio, making the stock its 22nd biggest position.

Several other institutional investors and hedge funds have also recently modified their holdings of DXCM. Norges Bank bought a new position in shares of DexCom during the fourth quarter valued at $483,356,000. AQR Capital Management LLC increased its holdings in shares of DexCom by 597.8% during the fourth quarter. AQR Capital Management LLC now owns 3,102,789 shares of the medical device company’s stock valued at $205,932,000 after acquiring an additional 2,658,158 shares in the last quarter. Holocene Advisors LP bought a new position in shares of DexCom during the third quarter valued at $163,964,000. CIBC Private Wealth Group LLC increased its holdings in shares of DexCom by 374.3% during the third quarter. CIBC Private Wealth Group LLC now owns 2,907,801 shares of the medical device company’s stock valued at $195,666,000 after acquiring an additional 2,294,709 shares in the last quarter. Finally, J. Stern & Co. LLP increased its holdings in shares of DexCom by 2,114.8% during the fourth quarter. J. Stern & Co. LLP now owns 1,601,973 shares of the medical device company’s stock valued at $106,323,000 after acquiring an additional 1,529,641 shares in the last quarter. 97.75% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, Director Mark G. Foletta sold 4,000 shares of the business’s stock in a transaction on Monday, June 15th. The stock was sold at an average price of $74.13, for a total transaction of $296,520.00. Following the completion of the transaction, the director owned 52,852 shares in the company, valued at $3,917,918.76. The trade was a 7.04% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Michael Jon Brown sold 1,700 shares of the business’s stock in a transaction on Monday, June 15th. The shares were sold at an average price of $75.55, for a total value of $128,435.00. Following the transaction, the executive vice president owned 106,353 shares of the company’s stock, valued at approximately $8,034,969.15. The trade was a 1.57% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 46,694 shares of company stock worth $3,343,977. Insiders own 0.28% of the company’s stock.

DexCom Trading Down 2.6%

Shares of NASDAQ:DXCM opened at $71.23 on Thursday. DexCom, Inc. has a 52-week low of $54.11 and a 52-week high of $89.98. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.64 and a current ratio of 1.95. The stock has a market capitalization of $27.49 billion, a price-to-earnings ratio of 30.44, a PEG ratio of 1.14 and a beta of 1.45. The stock’s 50-day simple moving average is $66.75 and its two-hundred day simple moving average is $67.82.

DexCom (NASDAQ:DXCM) last issued its earnings results on Thursday, April 30th. The medical device company reported $0.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.47 by $0.09. The company had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.17 billion. DexCom had a return on equity of 33.33% and a net margin of 19.31%.The firm’s quarterly revenue was up 15.0% on a year-over-year basis. During the same quarter last year, the company earned $0.32 EPS. Analysts expect that DexCom, Inc. will post 2.58 EPS for the current year.

Analyst Ratings Changes

Several brokerages have recently weighed in on DXCM. Stifel Nicolaus set a $90.00 price target on DexCom and gave the company a “buy” rating in a report on Friday, June 5th. Wall Street Zen cut DexCom from a “strong-buy” rating to a “buy” rating in a research report on Sunday, May 10th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of DexCom in a research report on Monday, June 1st. Bank of America dropped their price objective on DexCom from $100.00 to $80.00 and set a “buy” rating on the stock in a research report on Monday, May 18th. Finally, Canaccord Genuity Group set a $82.00 price objective on DexCom and gave the company a “buy” rating in a research report on Monday, May 18th. Three investment analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, DexCom presently has an average rating of “Moderate Buy” and an average target price of $84.83.

About DexCom

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.