Commerce Bank Buys Shares of 21,120 DexCom, Inc. $DXCM

Commerce Bank bought a new stake in shares of DexCom, Inc. (NASDAQ:DXCM) in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor bought 21,120 shares of the medical device company’s stock, valued at approximately $1,422,000.

Other hedge funds have also made changes to their positions in the company. Norges Bank acquired a new position in DexCom in the fourth quarter worth about $483,356,000. AQR Capital Management LLC raised its stake in 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 valued at $205,932,000 after buying an additional 2,658,158 shares in the last quarter. Deutsche Bank AG acquired a new stake in DexCom during the second quarter valued at approximately $164,035,000. Employees Provident Fund Board bought a new position in DexCom during the 4th quarter worth approximately $145,352,000. Finally, J. Stern & Co. LLP lifted its holdings in DexCom by 2,114.8% during the 4th quarter. J. Stern & Co. LLP now owns 1,601,973 shares of the medical device company’s stock worth $106,323,000 after buying an additional 1,529,641 shares during the last quarter. Institutional investors and hedge funds own 97.75% of the company’s stock.

DexCom Stock Down 2.1%

NASDAQ:DXCM opened at $89.16 on Wednesday. The firm has a market capitalization of $33.65 billion, a PE ratio of 35.24, a price-to-earnings-growth ratio of 1.54 and a beta of 1.41. The stock has a 50 day moving average of $78.15 and a 200-day moving average of $71.19. DexCom, Inc. has a 52 week low of $54.11 and a 52 week high of $92.59. The company has a current ratio of 1.73, a quick ratio of 1.43 and a debt-to-equity ratio of 0.47.

DexCom (NASDAQ:DXCM) last announced its quarterly 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 analysts’ expectations of $1.29 billion. During the same period in the prior year, the firm earned $0.48 EPS. The business’s quarterly revenue was up 13.1% on a year-over-year basis. Analysts predict that DexCom, Inc. will post 2.64 EPS for the current year.

Analysts Set New Price Targets

DXCM has been the subject of a number of research analyst reports. William Blair upgraded DexCom to a “strong-buy” rating in a report on Friday, May 15th. Argus raised their price objective on DexCom from $86.00 to $96.00 and gave the stock a “buy” rating in a research note on Tuesday, August 4th. Citigroup reaffirmed a “buy” rating and issued a $88.00 price objective (up from $84.00) on shares of DexCom in a report on Friday, July 31st. BTIG Research reiterated a “buy” rating and set a $90.00 target price (up from $80.00) on shares of DexCom in a research note on Friday, July 31st. Finally, Benchmark increased their target price on shares of DexCom from $77.00 to $82.00 and gave the stock a “buy” rating in a report on Friday, July 31st. Two research analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $88.71.

Insider Buying and Selling

In other news, insider Kevin R. Sayer sold 26,756 shares of the business’s stock in a transaction 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 transaction, the insider owned 328,970 shares of the company’s stock, valued at approximately $25,106,990.40. The trade was a 7.52% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through 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 company’s stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $85.32, for a total transaction of $170,640.00. Following the transaction, the director owned 48,852 shares of the company’s stock, valued at $4,168,052.64. This represents a 3.93% 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 73,035 shares of company stock valued at $5,446,673 over the last three months. Corporate insiders own 0.28% of the company’s stock.

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.