Flputnam Investment Management Co. Makes New $1.06 Million Investment in DexCom, Inc. $DXCM

Flputnam Investment Management Co. purchased a new position in shares of DexCom, Inc. (NASDAQ:DXCM) during the second quarter, Holdings Channel.com reports. The fund purchased 15,705 shares of the medical device company’s stock, valued at approximately $1,058,000.

A number of other hedge funds have also bought and sold shares of DXCM. Reflection Asset Management acquired a new position in shares of DexCom in the 4th quarter valued at $25,000. Ascentis Independent Advisors purchased a new stake in shares of DexCom in the first quarter worth about $25,000. MCF Advisors LLC purchased a new stake in shares of DexCom in the fourth quarter worth about $32,000. Wellington Grp LLC grew its holdings in DexCom by 778.7% during the first quarter. Wellington Grp LLC now owns 536 shares of the medical device company’s stock worth $34,000 after acquiring an additional 475 shares during the period. Finally, DV Equities LLC acquired a new stake in DexCom during the fourth quarter worth about $36,000. Institutional investors and hedge funds own 97.75% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. Stifel Nicolaus set a $95.00 price target on DexCom and gave the company a “buy” rating in a report on Friday, July 31st. William Blair raised shares of DexCom to a “strong-buy” rating in a research note on Friday, May 15th. Benchmark lifted their target price on shares of DexCom from $77.00 to $82.00 and gave the company a “buy” rating in a report on Friday, July 31st. Deutsche Bank Aktiengesellschaft initiated coverage on shares of DexCom in a research note on Tuesday, June 23rd. They issued a “buy” rating and a $86.00 target price for the company. Finally, Truist Financial set a $93.00 price target on shares of DexCom and gave the stock a “buy” rating in a report on Friday, July 31st. Two investment analysts have rated the stock with a Strong Buy rating, twenty-one 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, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $88.71.

DexCom Stock Performance

NASDAQ DXCM opened at $88.76 on Tuesday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.43 and a current ratio of 1.73. The stock’s fifty day moving average is $76.32 and its two-hundred day moving average is $70.44. The firm has a market capitalization of $33.49 billion, a P/E ratio of 35.08, a price-to-earnings-growth ratio of 1.51 and a beta of 1.41. DexCom, Inc. has a fifty-two week low of $54.11 and a fifty-two week high of $91.96.

DexCom (NASDAQ:DXCM) last issued its 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. DexCom had a return on equity of 35.94% and a net margin of 20.12%.The business had revenue of $1.31 billion during the quarter, compared to the consensus estimate of $1.29 billion. During the same period last year, the company earned $0.48 EPS. The company’s revenue for the quarter was up 13.1% on a year-over-year basis. On average, research analysts anticipate that DexCom, Inc. will post 2.64 earnings per share for the current year.

Insider Activity

In related news, insider Kevin R. Sayer sold 26,756 shares of the firm’s stock in a transaction dated Monday, July 20th. The shares were sold at an average price of $76.32, for a total transaction of $2,042,017.92. Following the completion of the sale, the insider directly owned 328,970 shares in the company, valued at approximately $25,106,990.40. This trade represents a 7.52% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Mark G. Foletta sold 2,000 shares of DexCom stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $85.32, for a total transaction of $170,640.00. Following the transaction, the director directly owned 48,852 shares in the company, valued at $4,168,052.64. This trade represents a 3.93% 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. Over the last three months, insiders sold 99,794 shares of company stock worth $7,373,321. Company insiders own 0.28% of the company’s stock.

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.