Argus Investors Counsel Inc. Buys New Shares in DexCom, Inc. $DXCM

Argus Investors Counsel Inc. bought a new position in DexCom, Inc. (NASDAQ:DXCM) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 18,348 shares of the medical device company’s stock, valued at approximately $1,152,000. DexCom comprises approximately 1.0% of Argus Investors Counsel Inc.’s portfolio, making the stock its 28th largest position.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in DXCM. Norges Bank purchased a new position in DexCom in the fourth quarter valued at approximately $483,356,000. AQR Capital Management LLC grew its stake in DexCom by 597.8% during the fourth quarter. AQR Capital Management LLC now owns 3,102,789 shares of the medical device company’s stock worth $205,932,000 after buying an additional 2,658,158 shares during the period. Holocene Advisors LP purchased a new position in DexCom in the third quarter valued at about $163,964,000. CIBC Private Wealth Group LLC grew its position in DexCom by 374.3% in the third quarter. CIBC Private Wealth Group LLC now owns 2,907,801 shares of the medical device company’s stock valued at $195,666,000 after acquiring an additional 2,294,709 shares in the last quarter. Finally, Employees Provident Fund Board acquired a new stake in DexCom in the fourth quarter valued at approximately $145,352,000. 97.75% of the stock is currently owned by institutional investors and hedge funds.

DexCom Price Performance

Shares of NASDAQ DXCM opened at $71.25 on Monday. The business’s fifty day moving average price is $68.31 and its two-hundred day moving average price is $68.19. The firm has a market capitalization of $27.49 billion, a PE ratio of 30.45, a P/E/G ratio of 1.17 and a beta of 1.45. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.95 and a quick ratio of 1.64. DexCom, Inc. has a 1-year low of $54.11 and a 1-year high of $89.98.

DexCom (NASDAQ:DXCM) last released its quarterly earnings data on Thursday, April 30th. The medical device company reported $0.56 earnings per share for the quarter, topping analysts’ consensus estimates of $0.47 by $0.09. The business had revenue of $1.19 billion for 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 company’s revenue for the quarter was up 15.0% compared to the same quarter last year. During the same quarter last year, the company earned $0.32 EPS. On average, research analysts expect that DexCom, Inc. will post 2.57 EPS for the current year.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on DXCM shares. Bank of America reduced their target price on shares of DexCom from $100.00 to $80.00 and set a “buy” rating on the stock in a research report on Monday, May 18th. Stifel Nicolaus set a $90.00 target price on DexCom and gave the company a “buy” rating in a research note on Friday, June 5th. Barclays reissued an “underweight” rating and set a $64.00 price target (down from $67.00) on shares of DexCom in a research report on Monday, May 18th. Weiss Ratings restated a “hold (c-)” rating on shares of DexCom in a research note on Monday, June 1st. Finally, TD Cowen reaffirmed a “buy” rating and issued a $95.00 price target (up from $75.00) on shares of DexCom in a report on Wednesday, June 10th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $84.88.

Insider Transactions at DexCom

In related news, Director Mark G. Foletta sold 4,000 shares of the firm’s stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $74.13, for a total value of $296,520.00. Following the sale, the director directly owned 52,852 shares in the company, valued at $3,917,918.76. This trade represents a 7.04% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available 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 DexCom stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $60.01, for a total value of $60,730.12. Following 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 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. Insiders sold 46,694 shares of company stock worth $3,343,977 over the last quarter. Insiders own 0.28% of the company’s stock.

DexCom 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.