William Blair Investment Management LLC Takes Position in DexCom, Inc. $DXCM

William Blair Investment Management LLC purchased a new position in DexCom, Inc. (NASDAQ:DXCM) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 173,453 shares of the medical device company’s stock, valued at approximately $11,682,000.

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

DexCom Trading Up 2.3%

NASDAQ DXCM opened at $92.34 on Friday. 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 stock’s 50-day simple moving average is $77.49 and its two-hundred day simple moving average is $70.94. DexCom, Inc. has a twelve month low of $54.11 and a twelve month high of $92.56. The company has a market capitalization of $34.85 billion, a price-to-earnings ratio of 36.50, a PEG ratio of 1.56 and a beta of 1.41.

DexCom (NASDAQ:DXCM) last posted its quarterly earnings data 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. The firm had revenue of $1.31 billion during the quarter, compared to analysts’ expectations of $1.29 billion. DexCom had a return on equity of 35.94% and a net margin of 20.12%.The company’s revenue for the quarter was up 13.1% compared to the same quarter last year. During the same period in the prior year, the business earned $0.48 EPS. Research analysts forecast that DexCom, Inc. will post 2.64 EPS for the current fiscal year.

Insider Transactions at DexCom

In other DexCom news, EVP Jon Coleman sold 4,911 shares of the stock in a transaction that occurred on Thursday, June 4th. The shares were sold at an average price of $74.13, for a total transaction of $364,052.43. Following the transaction, the executive vice president directly owned 95,450 shares in the company, valued at $7,075,708.50. This trade represents a 4.89% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Michael Jon Brown sold 1,700 shares of DexCom stock in a transaction that occurred 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 transaction, the executive vice president directly owned 106,353 shares in the company, valued at $8,034,969.15. This trade represents a 1.57% 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 90 days, insiders have sold 73,035 shares of company stock worth $5,446,673. 0.28% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. JPMorgan Chase & Co. lifted their price target on DexCom from $65.00 to $82.00 and gave the company a “neutral” rating in a research report on Friday, July 31st. Royal Bank Of Canada upped their price objective on shares of DexCom from $85.00 to $90.00 and gave the stock an “outperform” rating in a research report on Friday, July 31st. Weiss Ratings raised shares of DexCom from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, August 11th. BTIG Research reaffirmed a “buy” rating and issued a $90.00 target price (up from $80.00) on shares of DexCom in a research note on Friday, July 31st. Finally, Wall Street Zen lowered shares of DexCom from a “strong-buy” rating to a “buy” rating in a research report on Sunday, May 10th. Two 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 given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $88.71.

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.