Nippon Life Global Investors Americas Inc. Buys Shares of 53,400 DexCom, Inc. $DXCM

Nippon Life Global Investors Americas Inc. bought a new position in DexCom, Inc. (NASDAQ:DXCM) in the second quarter, according to the company in its most recent disclosure with the SEC. The fund bought 53,400 shares of the medical device company’s stock, valued at approximately $3,596,000.

Other hedge funds have also added to or reduced their stakes in the company. Brighton Jones LLC lifted its stake in shares of DexCom by 257.7% in the 4th quarter. Brighton Jones LLC now owns 16,582 shares of the medical device company’s stock worth $1,290,000 after purchasing 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 valued at $227,000 after buying an additional 196 shares during the period. Empowered Funds LLC increased its holdings in DexCom by 5.4% during the first quarter. Empowered Funds LLC now owns 8,446 shares of the medical device company’s stock valued at $577,000 after buying an additional 436 shares during the last quarter. Focus Partners Wealth increased its holdings in DexCom by 13.2% during the first quarter. Focus Partners Wealth now owns 7,218 shares of the medical device company’s stock valued at $493,000 after buying an additional 841 shares during the last quarter. Finally, NewEdge Advisors LLC raised its position in DexCom by 1.4% in the second quarter. NewEdge Advisors LLC now owns 19,253 shares of the medical device company’s stock worth $1,681,000 after acquiring an additional 258 shares during the period. 97.75% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, EVP Jon Coleman sold 4,911 shares of the stock in a transaction that occurred on Thursday, June 4th. The stock was sold at an average price of $74.13, for a total transaction of $364,052.43. Following the transaction, the executive vice president owned 95,450 shares in the company, valued at $7,075,708.50. This trade represents a 4.89% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Mark G. Foletta sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $85.32, for a total value of $170,640.00. Following the sale, the director owned 48,852 shares of the company’s stock, valued at $4,168,052.64. The trade was a 3.93% 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. Insiders have sold 99,794 shares of company stock valued at $7,373,321 over the last ninety days. 0.28% of the stock is owned by corporate insiders.

DexCom Price Performance

Shares of NASDAQ:DXCM opened at $89.75 on Monday. The business’s 50 day moving average is $76.08 and its 200 day moving average is $70.34. The stock has a market cap of $33.87 billion, a P/E ratio of 35.47, a price-to-earnings-growth ratio of 1.51 and a beta of 1.41. DexCom, Inc. has a 52-week low of $54.11 and a 52-week high of $91.96. The company has a quick ratio of 1.43, a current ratio of 1.73 and a debt-to-equity ratio of 0.47.

DexCom (NASDAQ:DXCM) last issued 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. DexCom had a net margin of 20.12% and a return on equity of 35.94%. The firm had revenue of $1.31 billion for the quarter, compared to the consensus estimate of $1.29 billion. During the same quarter in the previous year, the firm earned $0.48 EPS. The company’s quarterly revenue was up 13.1% compared to the same quarter last year. Sell-side analysts predict that DexCom, Inc. will post 2.64 EPS for the current year.

Analyst Ratings Changes

Several brokerages have recently weighed in on DXCM. Barclays reiterated an “underweight” rating and set a $64.00 price target (down from $67.00) on shares of DexCom in a research note on Monday, May 18th. JPMorgan Chase & Co. upped their price target on DexCom from $65.00 to $82.00 and gave the stock a “neutral” rating in a research report on Friday, July 31st. Mizuho lifted their target price on shares of DexCom from $90.00 to $95.00 and gave the company an “outperform” rating in a research note on Friday, July 31st. TD Cowen reaffirmed a “buy” rating on shares of DexCom in a report on Friday, July 31st. Finally, Citigroup reiterated a “buy” rating and set a $88.00 target price (up from $84.00) on shares of DexCom in a research report on Friday, July 31st. Two investment 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 issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price 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.