DexCom, Inc. $DXCM Shares Purchased by Edgestream Partners L.P.

Edgestream Partners L.P. raised its position in DexCom, Inc. (NASDAQ:DXCM) by 320.2% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 47,727 shares of the medical device company’s stock after acquiring an additional 36,369 shares during the quarter. Edgestream Partners L.P.’s holdings in DexCom were worth $4,166,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of DXCM. Grandeur Peak Global Advisors LLC lifted its position in shares of DexCom by 14.3% during the 2nd quarter. Grandeur Peak Global Advisors LLC now owns 35,799 shares of the medical device company’s stock worth $3,125,000 after purchasing an additional 4,483 shares during the last quarter. Berry Wealth Group LP acquired a new stake in DexCom in the second quarter valued at $251,000. Neuberger Berman Group LLC lifted its holdings in DexCom by 89.2% during the 2nd quarter. Neuberger Berman Group LLC now owns 780,881 shares of the medical device company’s stock worth $68,163,000 after buying an additional 368,103 shares during the last quarter. Silvant Capital Management LLC boosted its position in shares of DexCom by 71.7% during the 2nd quarter. Silvant Capital Management LLC now owns 57,406 shares of the medical device company’s stock worth $5,011,000 after acquiring an additional 23,978 shares in the last quarter. Finally, Norges Bank purchased a new position in shares of DexCom in the 2nd quarter valued at about $453,279,000. 97.75% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on DXCM shares. Oppenheimer cut DexCom from an “outperform” rating to a “market perform” rating in a research note on Monday, September 8th. Evercore ISI began coverage on shares of DexCom in a research report on Tuesday, November 25th. They set an “in-line” rating and a $68.00 price objective for the company. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of DexCom in a research report on Monday. Stifel Nicolaus started coverage on shares of DexCom in a research report on Tuesday, October 21st. They issued a “buy” rating and a $85.00 price target for the company. Finally, Morgan Stanley upgraded shares of DexCom from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $63.00 to $75.00 in a research note on Tuesday. Three investment analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, DexCom currently has a consensus rating of “Moderate Buy” and an average price target of $87.27.

DexCom Trading Up 0.6%

Shares of DexCom stock opened at $64.85 on Thursday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.38 and a current ratio of 1.56. The company has a market capitalization of $25.29 billion, a P/E ratio of 36.03, a PEG ratio of 1.36 and a beta of 1.51. DexCom, Inc. has a 1 year low of $54.11 and a 1 year high of $93.25. The company’s fifty day moving average is $64.06 and its two-hundred day moving average is $75.38.

DexCom (NASDAQ:DXCM) last announced its earnings results on Thursday, October 30th. The medical device company reported $0.61 earnings per share for the quarter, topping the consensus estimate of $0.57 by $0.04. DexCom had a net margin of 15.96% and a return on equity of 30.65%. The business had revenue of $1.21 billion during the quarter, compared to the consensus estimate of $1.18 billion. During the same quarter in the prior year, the firm earned $0.45 earnings per share. The business’s quarterly revenue was up 21.6% compared to the same quarter last year. Analysts forecast that DexCom, Inc. will post 2.03 earnings per share for the current year.

Insider Buying and Selling

In related news, COO Jacob Steven Leach purchased 18,200 shares of the firm’s stock in a transaction that occurred on Monday, November 10th. The stock was purchased at an average cost of $55.04 per share, with a total value of $1,001,728.00. Following the completion of the acquisition, the chief operating officer directly owned 331,697 shares in the company, valued at $18,256,602.88. This trade represents a 5.81% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Bridgette P. Heller sold 1,012 shares of DexCom stock in a transaction on Wednesday, November 12th. The shares were sold at an average price of $58.07, for a total transaction of $58,766.84. Following the completion of the transaction, the director owned 27,031 shares in the company, valued at approximately $1,569,690.17. This trade represents a 3.61% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 8,533 shares of company stock valued at $502,111. Company insiders own 0.32% of the company’s stock.

About DexCom

DexCom, Inc, a medical device company, focuses on the design, development, and commercialization of continuous glucose monitoring (CGM) systems in the United States and internationally. The company provides its systems for use by people with diabetes, as well as for use by healthcare providers. Its products include Dexcom G6 and Dexcom G7, integrated CGM systems for diabetes management; Dexcom Share, a remote monitoring system; Dexcom Real-Time API, which enables authorized third-party software developers to integrate real-time CGM data into their digital health apps and devices; and Dexcom ONE, that is designed to replace finger stick blood glucose testing for diabetes treatment decisions.