Northwestern Mutual Wealth Management Co. Invests $639,000 in DexCom, Inc. $DXCM

Northwestern Mutual Wealth Management Co. acquired a new stake in DexCom, Inc. (NASDAQ:DXCM) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 9,487 shares of the medical device company’s stock, valued at approximately $639,000.

A number of other institutional investors have also modified their holdings of DXCM. Norges Bank purchased a new position in shares of DexCom in the 4th quarter valued at approximately $483,356,000. AQR Capital Management LLC increased its holdings in shares of DexCom by 597.8% in 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 purchasing an additional 2,658,158 shares during the period. 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 purchased a new position in shares of DexCom in the fourth quarter worth 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 other news, EVP Michael Jon Brown sold 1,700 shares of the firm’s stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $75.55, for a total transaction of $128,435.00. Following the sale, the executive vice president directly owned 106,353 shares in the company, valued at $8,034,969.15. This trade represents a 1.57% decrease in their position. The transaction was disclosed in a legal filing 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 Jon Coleman sold 4,911 shares of DexCom stock in a transaction dated Thursday, June 4th. The shares were 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 of the company’s stock, valued at approximately $7,075,708.50. This represents a 4.89% decrease in their position. The disclosure for this sale is available in the SEC filing. 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.

Wall Street Analyst Weigh In

A number of brokerages recently commented on DXCM. Robert W. Baird set a $105.00 target price on DexCom in a research report on Friday, July 31st. 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. Benchmark increased their price objective on shares of DexCom from $77.00 to $82.00 and gave the stock a “buy” rating in a research note on Friday, July 31st. Barclays reissued an “underweight” rating and set a $64.00 target price (down from $67.00) on shares of DexCom in a report on Monday, May 18th. Finally, Raymond James Financial reaffirmed a “strong-buy” rating and issued a $94.00 price target on shares of DexCom in a report on Friday, July 31st. Two 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 given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $88.71.

DexCom Price Performance

NASDAQ:DXCM opened at $88.96 on Thursday. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.73 and a quick ratio of 1.43. The company has a 50 day moving average price of $78.50 and a 200-day moving average price of $71.33. DexCom, Inc. has a 1-year low of $54.11 and a 1-year high of $92.59. The firm has a market cap of $33.57 billion, a price-to-earnings ratio of 35.16, a price-to-earnings-growth ratio of 1.50 and a beta of 1.41.

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. DexCom had a net margin of 20.12% and a return on equity of 35.94%. The firm had revenue of $1.31 billion for the quarter, compared to the consensus estimate of $1.29 billion. During the same period in the prior year, the firm posted $0.48 earnings per share. The firm’s quarterly revenue was up 13.1% compared to the same quarter last year. Equities research analysts forecast that DexCom, Inc. will post 2.64 EPS for the current year.

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.