OMERS ADMINISTRATION Corp Makes New Investment in DexCom, Inc. $DXCM

OMERS ADMINISTRATION Corp acquired a new stake in DexCom, Inc. (NASDAQ:DXCM) in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 64,845 shares of the medical device company’s stock, valued at approximately $4,367,000.

Several other large investors have also recently made changes to their positions in the business. Brighton Jones LLC increased its holdings in DexCom by 257.7% during the fourth quarter. Brighton Jones LLC now owns 16,582 shares of the medical device company’s stock worth $1,290,000 after buying an additional 11,946 shares during the last quarter. Integrated Wealth Concepts LLC grew its position in shares of DexCom by 6.3% during the 1st quarter. Integrated Wealth Concepts LLC now owns 3,329 shares of the medical device company’s stock valued at $227,000 after acquiring an additional 196 shares during the period. Empowered Funds LLC grew its position in shares of DexCom by 5.4% during the 1st quarter. Empowered Funds LLC now owns 8,446 shares of the medical device company’s stock valued at $577,000 after acquiring an additional 436 shares during the period. Focus Partners Wealth increased its stake in shares of DexCom by 13.2% during the 1st quarter. Focus Partners Wealth now owns 7,218 shares of the medical device company’s stock worth $493,000 after purchasing an additional 841 shares during the last quarter. Finally, NewEdge Advisors LLC increased its stake in shares of DexCom by 1.4% during the 2nd quarter. NewEdge Advisors LLC now owns 19,253 shares of the medical device company’s stock worth $1,681,000 after purchasing an additional 258 shares during the last quarter. 97.75% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at DexCom

In other DexCom news, EVP Michael Jon Brown sold 1,700 shares of the stock in a transaction on 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 owned 106,353 shares in the company, valued at $8,034,969.15. This represents a 1.57% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Kevin R. Sayer sold 26,756 shares of the firm’s stock in a transaction on Monday, July 20th. The stock was sold at an average price of $76.32, for a total value of $2,042,017.92. Following the completion of the transaction, the insider directly owned 328,970 shares of the company’s stock, valued at $25,106,990.40. The trade was a 7.52% 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. Over the last quarter, insiders sold 73,035 shares of company stock worth $5,446,673. 0.28% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

DXCM has been the topic of a number of research reports. 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. Barclays reissued an “underweight” rating and set a $64.00 price objective (down from $67.00) on shares of DexCom in a report on Monday, May 18th. Citigroup reissued a “buy” rating and issued a $88.00 target price (up from $84.00) on shares of DexCom in a research report on Friday, July 31st. Mizuho boosted their target price on DexCom from $90.00 to $95.00 and gave the company an “outperform” rating in a research note on Friday, July 31st. Finally, William Blair raised DexCom to a “strong-buy” rating in a research report on Friday, May 15th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, DexCom presently has a consensus rating of “Moderate Buy” and an average price target of $88.71.

DexCom Stock Performance

NASDAQ DXCM opened at $89.16 on Wednesday. The company’s 50 day moving average is $78.15 and its 200-day moving average is $71.19. DexCom, Inc. has a 12-month low of $54.11 and a 12-month high of $92.59. The company has a quick ratio of 1.43, a current ratio of 1.73 and a debt-to-equity ratio of 0.47. The firm has a market cap of $33.65 billion, a P/E ratio of 35.24, a price-to-earnings-growth ratio of 1.54 and a beta of 1.41.

DexCom (NASDAQ:DXCM) last released its quarterly earnings data on Thursday, July 30th. The medical device company reported $0.70 EPS for the quarter, topping the consensus estimate of $0.61 by $0.09. DexCom had a net margin of 20.12% and a return on equity of 35.94%. The company 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 firm earned $0.48 EPS. DexCom’s revenue for the quarter was up 13.1% on a year-over-year basis. Sell-side analysts predict that DexCom, Inc. will post 2.64 earnings per share for the current year.

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.