DexCom, Inc. $DXCM Shares Purchased by SummitTX Capital L.P.

SummitTX Capital L.P. raised its holdings in DexCom, Inc. (NASDAQ:DXCM) by 1,125.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 43,560 shares of the medical device company’s stock after buying an additional 40,006 shares during the period. SummitTX Capital L.P.’s holdings in DexCom were worth $2,736,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of DXCM. ABS Direct Equity Fund LLC purchased a new stake in DexCom during the 1st quarter worth about $150,000. Weiss Asset Management LP purchased a new position in shares of DexCom in the 1st quarter valued at about $7,584,000. OMERS ADMINISTRATION Corp increased its holdings in shares of DexCom by 0.7% in the 1st quarter. OMERS ADMINISTRATION Corp now owns 158,311 shares of the medical device company’s stock valued at $9,942,000 after acquiring an additional 1,110 shares during the last quarter. Van Diest Capital LLC acquired a new stake in shares of DexCom during the 1st quarter worth about $365,000. Finally, Aristotle Atlantic Partners LLC raised its position in shares of DexCom by 6.7% during the 1st quarter. Aristotle Atlantic Partners LLC now owns 251,485 shares of the medical device company’s stock worth $15,793,000 after acquiring an additional 15,874 shares in the last quarter. 97.75% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at DexCom

In other news, EVP Michael Jon Brown sold 1,700 shares of DexCom stock in a transaction on Monday, June 15th. The shares were sold at an average price of $75.55, for a total value of $128,435.00. Following the transaction, the executive vice president directly owned 106,353 shares of the company’s stock, valued at $8,034,969.15. The trade was a 1.57% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Jon Coleman sold 4,912 shares of the company’s stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of $73.00, for a total transaction of $358,576.00. Following the completion of the sale, the executive vice president owned 100,361 shares of the company’s stock, valued at approximately $7,326,353. This trade represents a 4.67% 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. In the last quarter, insiders sold 98,506 shares of company stock valued at $7,205,258. 0.28% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on DXCM. Deutsche Bank Aktiengesellschaft began coverage on DexCom in a research note on Tuesday, June 23rd. They set a “buy” rating and a $86.00 target price for the company. Barclays reissued an “underweight” rating and set a $64.00 price objective (down from $67.00) on shares of DexCom in a report on Monday, May 18th. Weiss Ratings upgraded shares of DexCom from a “hold (c-)” rating to a “hold (c)” rating in a research report on Wednesday, July 8th. Mizuho upped their target price on shares of DexCom from $85.00 to $90.00 and gave the company an “outperform” rating in a report on Wednesday, July 15th. Finally, Raymond James Financial reaffirmed a “strong-buy” rating and issued a $91.00 target price on shares of DexCom in a research report on Monday, June 8th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, DexCom has an average rating of “Moderate Buy” and an average price target of $85.40.

DexCom Trading Up 2.0%

NASDAQ:DXCM opened at $74.85 on Wednesday. The stock’s 50 day moving average price is $72.79 and its 200 day moving average price is $69.01. The company has a market capitalization of $28.88 billion, a PE ratio of 31.99, a P/E/G ratio of 1.21 and a beta of 1.45. The company has a quick ratio of 1.64, a current ratio of 1.95 and a debt-to-equity ratio of 0.42. DexCom, Inc. has a 52-week low of $54.11 and a 52-week high of $89.98.

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