Flputnam Investment Management Co. Invests $1.06 Million in DexCom, Inc. $DXCM

Flputnam Investment Management Co. purchased a new stake in DexCom, Inc. (NASDAQ:DXCM) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 15,705 shares of the medical device company’s stock, valued at approximately $1,058,000.

A number of other institutional investors also recently modified their holdings of the business. Norges Bank purchased a new position in DexCom in the 4th quarter valued at approximately $483,356,000. AQR Capital Management LLC lifted its position in shares of DexCom by 597.8% during the fourth quarter. AQR Capital Management LLC now owns 3,102,789 shares of the medical device company’s stock worth $205,932,000 after acquiring an additional 2,658,158 shares in the last quarter. Legal & General Group Plc bought a new position in shares of DexCom in the second quarter worth $173,237,000. Deutsche Bank AG bought a new position in shares of DexCom in the second quarter worth $164,035,000. Finally, Employees Provident Fund Board purchased a new position in shares of DexCom in the fourth quarter valued at $145,352,000. 97.75% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at DexCom

In other DexCom news, insider Kevin R. Sayer sold 26,756 shares of DexCom stock in a transaction that occurred 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 $25,106,990.40. The trade was a 7.52% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through 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 the business’s 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 completion of the transaction, the executive vice president directly owned 106,353 shares of the company’s stock, valued at approximately $8,034,969.15. This represents a 1.57% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 75,600 shares of company stock valued at $5,673,342 in the last ninety days. Insiders own 0.28% of the company’s stock.

DexCom Price Performance

NASDAQ:DXCM opened at $91.06 on Tuesday. DexCom, Inc. has a 52-week low of $54.11 and a 52-week high of $92.59. The stock has a fifty day moving average of $79.64 and a 200 day moving average of $71.77. 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 $34.36 billion, a price-to-earnings ratio of 35.99, a P/E/G ratio of 1.53 and a beta of 1.41.

DexCom (NASDAQ:DXCM) last announced its earnings results on Thursday, July 30th. The medical device company reported $0.70 earnings per share 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 business had revenue of $1.31 billion for the quarter, compared to analyst estimates of $1.29 billion. During the same period in the prior year, the company earned $0.48 EPS. The company’s quarterly revenue was up 13.1% compared to the same quarter last year. On average, research analysts expect that DexCom, Inc. will post 2.64 EPS for the current fiscal year.

Analyst Ratings Changes

DXCM has been the topic of a number of analyst reports. UBS Group set a $96.00 price objective on DexCom and gave the company a “buy” rating in a research note on Tuesday, July 28th. Mizuho lifted their target price on DexCom from $90.00 to $95.00 and gave the company an “outperform” rating in a report on Friday, July 31st. TD Cowen reiterated a “buy” rating on shares of DexCom in a research report on Friday, July 31st. Wells Fargo & Company increased their price target on shares of DexCom from $85.00 to $90.00 and gave the stock an “overweight” rating in a report on Friday, July 31st. Finally, Robert W. Baird set a $105.00 price objective on shares of DexCom in a research report on Friday, July 31st. Two analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $88.71.

DexCom Company 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.