Caisse de depot et placement du Quebec Buys Shares of 151,149 DexCom, Inc. $DXCM

Caisse de depot et placement du Quebec purchased a new position in DexCom, Inc. (NASDAQ:DXCM) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 151,149 shares of the medical device company’s stock, valued at approximately $10,180,000.

Several other institutional investors and hedge funds have also bought and sold shares of DXCM. Geode Capital Management LLC boosted its position in shares of DexCom by 0.4% in the 4th quarter. Geode Capital Management LLC now owns 11,006,183 shares of the medical device company’s stock worth $727,842,000 after purchasing an additional 42,411 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of DexCom by 6.9% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 7,999,057 shares of the medical device company’s stock valued at $530,897,000 after purchasing an additional 516,526 shares during the last quarter. Norges Bank purchased a new position in shares of DexCom in the 4th quarter valued at approximately $483,356,000. Invesco Ltd. raised its position in shares of DexCom by 14.8% in the 4th quarter. Invesco Ltd. now owns 5,315,367 shares of the medical device company’s stock valued at $352,781,000 after purchasing an additional 686,228 shares during the last quarter. Finally, CIBC Private Wealth Group LLC boosted its stake in DexCom by 7.6% in the 4th quarter. CIBC Private Wealth Group LLC now owns 3,128,114 shares of the medical device company’s stock worth $207,613,000 after purchasing an additional 220,313 shares in the last quarter. 97.75% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have issued reports on DXCM shares. Argus upped their price target on shares of DexCom from $86.00 to $96.00 and gave the company a “buy” rating in a research note on Tuesday, August 4th. Bank of America lowered their price objective on shares of DexCom from $100.00 to $80.00 and set a “buy” rating for the company in a research note on Monday, May 18th. Wall Street Zen lowered shares of DexCom from a “buy” rating to a “hold” rating in a report on Saturday. Weiss Ratings raised DexCom from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday, August 11th. Finally, Mizuho raised their target price on DexCom from $90.00 to $95.00 and gave the stock an “outperform” rating in a research note on Friday, July 31st. Two research analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, DexCom currently has a consensus rating of “Moderate Buy” and an average price target of $88.71.

DexCom Price Performance

Shares of NASDAQ DXCM opened at $90.82 on Friday. The business’s 50 day moving average price is $79.21 and its 200 day moving average price is $71.60. The firm has a market cap of $34.27 billion, a P/E ratio of 35.90, a P/E/G ratio of 1.53 and a beta of 1.41. DexCom, Inc. has a 52 week low of $54.11 and a 52 week 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.

DexCom (NASDAQ:DXCM) last posted its quarterly earnings results on Thursday, July 30th. The medical device company reported $0.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 analyst estimates of $1.29 billion. During the same period last year, the firm posted $0.48 EPS. DexCom’s revenue for the quarter was up 13.1% compared to the same quarter last year. On average, sell-side analysts expect that DexCom, Inc. will post 2.64 earnings per share for the current year.

Insiders Place Their Bets

In related news, EVP Michael Jon 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 transaction, the executive vice president directly owned 106,353 shares in the company, valued at $8,034,969.15. The trade was a 1.57% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Kevin R. Sayer sold 26,756 shares of the company’s stock in a transaction on Monday, July 20th. The shares were sold at an average price of $76.32, for a total transaction of $2,042,017.92. Following the completion of the sale, the insider directly owned 328,970 shares in the company, valued at approximately $25,106,990.40. The trade was a 7.52% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 75,600 shares of company stock worth $5,673,342. Company insiders own 0.28% of the company’s stock.

About DexCom

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.