Primecap Management Co. CA Purchases Shares of 192,000 DexCom, Inc. $DXCM

Primecap Management Co. CA purchased a new stake in DexCom, Inc. (NASDAQ:DXCM) during the second quarter, according to the company in its most recent filing with the SEC. The firm purchased 192,000 shares of the medical device company’s stock, valued at approximately $12,931,000.

Other institutional investors also recently made changes to their positions in the company. Norges Bank acquired a new stake in shares of DexCom during the 4th quarter worth $483,356,000. AQR Capital Management LLC boosted its holdings in 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 acquiring an additional 2,658,158 shares during the last quarter. Legal & General Group Plc purchased a new stake in DexCom during the second quarter valued at about $173,237,000. Deutsche Bank AG purchased a new stake in DexCom during the second quarter valued at about $164,035,000. Finally, Employees Provident Fund Board purchased a new stake in DexCom during the fourth quarter valued at about $145,352,000. 97.75% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on DXCM shares. UBS Group set a $96.00 price objective on DexCom and gave the stock a “buy” rating in a report on Tuesday, July 28th. Royal Bank Of Canada boosted their target price on DexCom from $85.00 to $90.00 and gave the stock an “outperform” rating in a report on Friday, July 31st. Stifel Nicolaus set a $95.00 target price on shares of DexCom and gave the stock a “buy” rating in a research report on Friday, July 31st. TD Cowen reissued a “buy” rating on shares of DexCom in a research report on Friday, July 31st. Finally, Wells Fargo & Company raised their price target on shares of DexCom from $85.00 to $90.00 and gave the company an “overweight” rating in a report on Friday, July 31st. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $88.71.

Insider Buying and Selling

In related news, insider Kevin R. Sayer sold 26,756 shares of the business’s stock in a transaction that occurred on Monday, July 20th. The stock was sold at an average price of $76.32, for a total transaction of $2,042,017.92. Following the transaction, the insider directly owned 328,970 shares of the company’s stock, valued at approximately $25,106,990.40. The trade was a 7.52% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through 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 the company’s stock in a transaction that occurred on Thursday, June 4th. The stock was 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 SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 73,035 shares of company stock valued at $5,446,673. Corporate insiders own 0.28% of the company’s stock.

DexCom Stock Down 0.2%

Shares of NASDAQ DXCM opened at $88.96 on Thursday. The stock has a fifty day moving average price of $78.50 and a 200 day moving average price of $71.33. The company has a current ratio of 1.73, a quick ratio of 1.43 and a debt-to-equity ratio of 0.47. DexCom, Inc. has a 12-month low of $54.11 and a 12-month high of $92.59. The company has a market cap of $33.57 billion, a P/E ratio of 35.16, a P/E/G ratio of 1.50 and a beta of 1.41.

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