Wealthfront Advisers LLC Makes New Investment in DexCom, Inc. $DXCM

Wealthfront Advisers LLC acquired a new position in shares of DexCom, Inc. (NASDAQ:DXCM) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 20,250 shares of the medical device company’s stock, valued at approximately $1,364,000.

A number of other large investors have also recently made changes to their positions in DXCM. Norges Bank purchased a new position in DexCom in the 4th quarter worth $483,356,000. AQR Capital Management LLC grew its stake in DexCom by 597.8% during the 4th quarter. AQR Capital Management LLC now owns 3,102,789 shares of the medical device company’s stock valued at $205,932,000 after purchasing an additional 2,658,158 shares during the last quarter. Deutsche Bank AG acquired a new position in shares of DexCom in the second quarter valued at about $164,035,000. Employees Provident Fund Board acquired a new position in shares of DexCom in the fourth quarter valued at about $145,352,000. Finally, J. Stern & Co. LLP raised its stake in shares of DexCom by 2,114.8% in the fourth quarter. J. Stern & Co. LLP now owns 1,601,973 shares of the medical device company’s stock worth $106,323,000 after purchasing an additional 1,529,641 shares during the last quarter. 97.75% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, EVP Jon Coleman sold 4,911 shares of DexCom stock in a transaction dated Thursday, June 4th. The stock was sold at an average price of $74.13, for a total value of $364,052.43. Following the completion of the transaction, the executive vice president owned 95,450 shares in the company, valued at $7,075,708.50. The trade was a 4.89% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Michael Jon Brown sold 1,700 shares of the company’s stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $75.55, for a total value of $128,435.00. Following the completion of the transaction, the executive vice president directly owned 106,353 shares of the company’s stock, valued at $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. In the last 90 days, insiders sold 73,035 shares of company stock valued at $5,446,673. Insiders own 0.28% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on DXCM shares. Robert W. Baird set a $105.00 target price on DexCom in a report on Friday, July 31st. TD Cowen reissued a “buy” rating on shares of DexCom in a research report on Friday, July 31st. Wall Street Zen cut shares of DexCom from a “strong-buy” rating to a “buy” rating in a research note on Sunday, May 10th. Citigroup reaffirmed a “buy” rating and issued a $88.00 price objective (up from $84.00) on shares of DexCom in a report on Friday, July 31st. Finally, BTIG Research reiterated a “buy” rating and issued a $90.00 price objective (up from $80.00) on shares of DexCom in a research note on Friday, July 31st. Two investment analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $88.71.

DexCom Stock Up 2.3%

Shares of DXCM stock opened at $92.34 on Friday. DexCom, Inc. has a twelve month low of $54.11 and a twelve month high of $92.56. The stock has a market cap of $34.85 billion, a P/E ratio of 36.50, a P/E/G ratio of 1.52 and a beta of 1.41. The stock has a 50 day moving average of $77.49 and a 200 day moving average of $70.94. The company has a current ratio of 1.73, a quick ratio of 1.43 and a debt-to-equity ratio of 0.47.

DexCom (NASDAQ:DXCM) last announced its quarterly earnings results on Thursday, July 30th. The medical device company reported $0.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.61 by $0.09. The firm had revenue of $1.31 billion for the quarter, compared to the consensus estimate of $1.29 billion. DexCom had a net margin of 20.12% and a return on equity of 35.94%. The firm’s quarterly revenue was up 13.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.48 earnings per share. As a group, sell-side analysts expect that DexCom, Inc. will post 2.64 EPS for the current year.

DexCom Company Profile

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.