OP Asset Management Ltd Acquires New Shares in DexCom, Inc. $DXCM

OP Asset Management Ltd bought a new position in shares of DexCom, Inc. (NASDAQ:DXCM) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 40,463 shares of the medical device company’s stock, valued at approximately $2,541,000.

Other large investors have also recently made changes to their positions in the company. Brighton Jones LLC raised its position in shares of DexCom by 257.7% during the 4th quarter. Brighton Jones LLC now owns 16,582 shares of the medical device company’s stock valued at $1,290,000 after buying an additional 11,946 shares in the last quarter. Integrated Wealth Concepts LLC grew its position in DexCom by 6.3% in the first quarter. Integrated Wealth Concepts LLC now owns 3,329 shares of the medical device company’s stock worth $227,000 after acquiring an additional 196 shares in the last quarter. Empowered Funds LLC increased its stake in DexCom by 5.4% in the first quarter. Empowered Funds LLC now owns 8,446 shares of the medical device company’s stock valued at $577,000 after acquiring an additional 436 shares during the last quarter. Focus Partners Wealth increased its stake in DexCom by 13.2% in the first quarter. Focus Partners Wealth now owns 7,218 shares of the medical device company’s stock valued at $493,000 after acquiring an additional 841 shares during the last quarter. Finally, NewEdge Advisors LLC raised its position in DexCom by 1.4% during the second quarter. NewEdge Advisors LLC now owns 19,253 shares of the medical device company’s stock valued at $1,681,000 after purchasing an additional 258 shares in the last quarter. 97.75% of the stock is owned by institutional investors.

DexCom Stock Up 2.2%

Shares of NASDAQ DXCM opened at $70.14 on Friday. The company has a quick ratio of 1.64, a current ratio of 1.95 and a debt-to-equity ratio of 0.42. DexCom, Inc. has a 52 week low of $54.11 and a 52 week high of $89.98. The firm’s fifty day moving average is $67.65 and its 200 day moving average is $68.08. The company has a market cap of $27.06 billion, a price-to-earnings ratio of 29.97, a PEG ratio of 1.16 and a beta of 1.45.

DexCom (NASDAQ:DXCM) last announced its quarterly earnings results on Thursday, April 30th. The medical device company reported $0.56 earnings per share for the quarter, beating the consensus estimate of $0.47 by $0.09. The business had revenue of $1.19 billion during the quarter, compared to analysts’ expectations of $1.17 billion. DexCom had a net margin of 19.31% and a return on equity of 33.33%. The firm’s revenue for the quarter was up 15.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.32 EPS. On average, equities research analysts expect that DexCom, Inc. will post 2.57 earnings per share for the current year.

Insider Transactions at DexCom

In other news, Director Mark G. Foletta sold 4,000 shares of the stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $74.13, for a total transaction of $296,520.00. Following the completion of the sale, the director directly owned 52,852 shares in the company, valued at approximately $3,917,918.76. This represents a 7.04% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Bridgette P. Heller sold 1,012 shares of the firm’s stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $60.01, for a total value of $60,730.12. Following the completion of the sale, the director directly owned 25,007 shares in the company, valued at $1,500,670.07. The trade was a 3.89% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 46,694 shares of company stock valued at $3,343,977. Company insiders own 0.28% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on the company. Barclays reaffirmed an “underweight” rating and set a $64.00 price target (down from $67.00) on shares of DexCom in a research note on Monday, May 18th. Raymond James Financial reissued a “strong-buy” rating and set a $91.00 price objective on shares of DexCom in a report on Monday, June 8th. Weiss Ratings restated a “hold (c-)” rating on shares of DexCom in a research report on Monday, June 1st. Mizuho set a $85.00 target price on DexCom and gave the stock an “outperform” rating in a research note on Tuesday, June 9th. Finally, BTIG Research reiterated a “buy” rating and set a $85.00 price target on shares of DexCom in a research report on Monday, March 9th. Two analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $84.88.

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.