474,310 Shares in DexCom, Inc. $DXCM Purchased by Eventide Asset Management LLC

Eventide Asset Management LLC bought a new position in shares of DexCom, Inc. (NASDAQ:DXCM) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund bought 474,310 shares of the medical device company’s stock, valued at approximately $31,482,000.

Several other hedge funds and other institutional investors have also modified their holdings of DXCM. Norges Bank bought a new stake in shares of DexCom during the 4th quarter worth about $483,356,000. Holocene Advisors LP bought a new stake in shares of DexCom during the 3rd quarter worth about $163,964,000. CIBC Private Wealth Group LLC boosted its holdings in shares of DexCom by 374.3% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 2,907,801 shares of the medical device company’s stock worth $195,666,000 after buying an additional 2,294,709 shares during the period. Soleus Capital Management L.P. bought a new stake in shares of DexCom during the 4th quarter worth about $86,088,000. Finally, Neuberger Berman Group LLC boosted its holdings in shares of DexCom by 111.6% during the 4th quarter. Neuberger Berman Group LLC now owns 2,340,199 shares of the medical device company’s stock worth $155,319,000 after buying an additional 1,234,469 shares during the period. Institutional investors own 97.75% of the company’s stock.

Analyst Ratings Changes

Several analysts have weighed in on DXCM shares. William Blair upgraded shares of DexCom to a “strong-buy” rating in a research note on Friday, May 15th. TD Cowen reiterated a “buy” rating and issued a $95.00 price objective (up from $75.00) on shares of DexCom in a research note on Wednesday. Raymond James Financial reiterated a “strong-buy” rating and issued a $91.00 price objective on shares of DexCom in a research note on Monday, June 8th. Citigroup reiterated a “buy” rating and issued a $84.00 price objective (up from $79.00) on shares of DexCom in a research note on Thursday, May 28th. Finally, Mizuho set a $85.00 price objective on shares of DexCom and gave the stock an “outperform” rating in a research note on Tuesday. Three equities research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $84.29.

Insider Activity

In other news, EVP Jon Coleman sold 4,911 shares of the company’s 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 completion of the sale, the executive vice president owned 95,450 shares of the company’s stock, valued at approximately $7,075,708.50. This represents a 4.89% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible 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 company’s stock in a transaction that occurred on Friday, May 15th. The stock was sold at an average price of $59.91, for a total transaction of $101,847.00. Following the sale, the executive vice president directly owned 109,504 shares of the company’s stock, valued at approximately $6,560,384.64. This trade represents a 1.53% 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 90 days, insiders sold 42,694 shares of company stock worth $3,029,267. Insiders own 0.28% of the company’s stock.

DexCom Stock Performance

Shares of DexCom stock opened at $75.37 on Friday. The company has a 50 day moving average of $66.13 and a 200-day moving average of $67.56. DexCom, Inc. has a 1-year low of $54.11 and a 1-year high of $89.98. The company has a current ratio of 1.95, a quick ratio of 1.64 and a debt-to-equity ratio of 0.42. The company has a market cap of $29.08 billion, a PE ratio of 32.21, a price-to-earnings-growth ratio of 1.18 and a beta of 1.45.

DexCom (NASDAQ:DXCM) last issued its quarterly 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. DexCom had a net margin of 19.31% and a return on equity of 33.33%. The company had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.17 billion. During the same quarter in the prior year, the firm posted $0.32 EPS. The firm’s quarterly revenue was up 15.0% on a year-over-year basis. As a group, equities research analysts forecast that DexCom, Inc. will post 2.58 earnings per share for the current fiscal year.

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.