California State Teachers Retirement System Increases Holdings in DexCom, Inc. $DXCM

California State Teachers Retirement System lifted its holdings in DexCom, Inc. (NASDAQ:DXCM) by 6,567.7% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 39,176,552 shares of the medical device company’s stock after acquiring an additional 38,588,991 shares during the period. California State Teachers Retirement System owned 0.10% of DexCom worth $2,638,541,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Reflection Asset Management purchased a new stake in DexCom during the fourth quarter valued at approximately $25,000. Ascentis Independent Advisors purchased a new position in shares of DexCom in the 1st quarter worth approximately $25,000. MCF Advisors LLC purchased a new position in shares of DexCom in the 4th quarter worth approximately $32,000. Wellington Grp LLC increased its position in shares of DexCom by 778.7% during the 1st quarter. Wellington Grp LLC now owns 536 shares of the medical device company’s stock valued at $34,000 after purchasing an additional 475 shares during the last quarter. Finally, DV Equities LLC bought a new position in shares of DexCom during the 4th quarter valued at approximately $36,000. Hedge funds and other institutional investors own 97.75% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on DXCM. William Blair upgraded DexCom to a “strong-buy” rating in a research report on Friday, May 15th. Truist Financial set a $93.00 price objective on shares of DexCom and gave the company a “buy” rating in a research report on Friday, July 31st. Barclays reissued an “underweight” rating and issued a $64.00 target price (down from $67.00) on shares of DexCom in a research note on Monday, May 18th. Benchmark raised their target price on shares of DexCom from $77.00 to $82.00 and gave the stock a “buy” rating in a report on Friday, July 31st. Finally, JPMorgan Chase & Co. raised their target price on shares of DexCom from $65.00 to $82.00 and gave the stock a “neutral” rating in a report on Friday, July 31st. Two analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $88.71.

Insiders Place Their Bets

In other news, EVP Michael Brown sold 1,700 shares of the business’s stock in a transaction on Monday, June 15th. The shares were sold at an average price of $75.55, for a total transaction of $128,435.00. Following the completion of the sale, the executive vice president directly owned 106,353 shares of the company’s stock, valued at approximately $8,034,969.15. The trade was a 1.57% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Sadie Stern sold 2,565 shares of the company’s stock in a transaction dated Thursday, August 27th. The stock was sold at an average price of $88.37, for a total transaction of $226,669.05. Following the completion of the transaction, the executive vice president owned 126,043 shares in the company, valued at approximately $11,138,419.91. The trade was a 1.99% decrease in their ownership of the stock. 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 have sold a total of 65,777 shares of company stock valued at $4,950,714 in the last three months. 0.28% of the stock is owned by company insiders.

DexCom Price Performance

Shares of DXCM stock opened at $84.51 on Friday. DexCom, Inc. has a 52-week low of $54.11 and a 52-week high of $92.59. 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 firm has a market capitalization of $31.89 billion, a P/E ratio of 33.40, a P/E/G ratio of 1.41 and a beta of 1.42. The stock has a 50 day moving average price of $82.51 and a 200 day moving average price of $72.73.

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

DexCom Company Profile

DexCom, Inc develops and commercializes continuous glucose monitoring (CGM) systems that measure glucose levels in real time. Its technology is designed to help people with diabetes monitor glucose trends and make more informed treatment and lifestyle decisions without relying solely on traditional fingerstick testing.

The company’s products include the Dexcom G7 and Dexcom G6 CGM systems, which use a small wearable sensor, transmitter or integrated sensor, and mobile applications to display glucose data.