Rock Springs Capital Management LP Acquires 8,300 Shares of DexCom, Inc. $DXCM

Rock Springs Capital Management LP boosted its holdings in shares of DexCom, Inc. (NASDAQ:DXCM) by 2.4% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 355,600 shares of the medical device company’s stock after buying an additional 8,300 shares during the quarter. DexCom makes up approximately 1.3% of Rock Springs Capital Management LP’s investment portfolio, making the stock its 24th largest position. Rock Springs Capital Management LP owned approximately 0.09% of DexCom worth $22,332,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of DXCM. Trust Co. of Vermont boosted its stake in shares of DexCom by 14.8% during the 4th quarter. Trust Co. of Vermont now owns 1,122 shares of the medical device company’s stock worth $74,000 after acquiring an additional 145 shares during the period. V Square Quantitative Management LLC raised its stake in DexCom by 1.8% in the 1st quarter. V Square Quantitative Management LLC now owns 9,618 shares of the medical device company’s stock valued at $604,000 after acquiring an additional 172 shares during the period. Essex Financial Services Inc. raised its stake in DexCom by 5.7% in the 1st quarter. Essex Financial Services Inc. now owns 3,256 shares of the medical device company’s stock valued at $204,000 after acquiring an additional 175 shares during the period. IFP Advisors Inc lifted its holdings in DexCom by 24.7% during the 3rd quarter. IFP Advisors Inc now owns 900 shares of the medical device company’s stock valued at $61,000 after purchasing an additional 178 shares during the last quarter. Finally, Keel Point LLC lifted its holdings in DexCom by 3.1% during the 4th quarter. Keel Point LLC now owns 6,473 shares of the medical device company’s stock valued at $430,000 after purchasing an additional 193 shares during the last quarter. Institutional investors own 97.75% of the company’s stock.

DexCom Stock Up 2.6%

DXCM stock opened at $73.37 on Tuesday. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.95 and a quick ratio of 1.64. The stock has a market capitalization of $28.31 billion, a price-to-earnings ratio of 31.35, a PEG ratio of 1.18 and a beta of 1.45. The business’s fifty day moving average price is $72.63 and its two-hundred day moving average price is $68.97. DexCom, Inc. has a fifty-two week low of $54.11 and a fifty-two week high of $89.98.

DexCom (NASDAQ:DXCM) last posted its earnings results on Thursday, April 30th. The medical device company reported $0.56 earnings per share for the quarter, topping analysts’ consensus estimates of $0.47 by $0.09. The company had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.17 billion. DexCom had a return on equity of 33.33% and a net margin of 19.31%.The company’s revenue was up 15.0% on a year-over-year basis. During the same quarter last year, the firm earned $0.32 earnings per share. On average, equities analysts anticipate that DexCom, Inc. will post 2.57 earnings per share for the current year.

Insider Buying and Selling at DexCom

In other DexCom news, Director Mark G. Foletta sold 4,000 shares of the business’s stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $74.13, for a total value of $296,520.00. Following the completion of the sale, the director owned 52,852 shares of the company’s stock, valued at $3,917,918.76. The trade was a 7.04% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Kevin R. Sayer sold 26,759 shares of the stock in a transaction that occurred on Thursday, May 21st. The stock was sold at an average price of $72.00, for a total transaction of $1,926,648.00. Following the transaction, the insider owned 382,482 shares in the company, valued at approximately $27,538,704. The trade was a 6.54% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 71,750 shares of company stock valued at $5,163,241 in the last quarter. Company insiders own 0.28% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have commented on DXCM. William Blair upgraded shares of DexCom to a “strong-buy” rating in a report on Friday, May 15th. Raymond James Financial reaffirmed a “strong-buy” rating and set a $91.00 target price on shares of DexCom in a report on Monday, June 8th. Stifel Nicolaus set a $90.00 price target on shares of DexCom and gave the company a “buy” rating in a research note on Friday, June 5th. Bank of America lowered their price target on shares of DexCom from $100.00 to $80.00 and set a “buy” rating on the stock in a report on Monday, May 18th. Finally, Citigroup reissued a “buy” rating and issued a $84.00 price target (up from $79.00) on shares of DexCom in a report on Thursday, May 28th. Two equities 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 given a Sell rating to the company’s stock. According to MarketBeat.com, DexCom has an average rating of “Moderate Buy” and an average price target of $85.36.

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.